By Uday Sampath Kumar (Reuters) – Best Buy Co Inc said on Thursday it expects annual sales to surpass peak pandemic levels in 2024, offsetting a disappointing holiday quarter when the top U.S. electronics retailer was shackled by product shortages. Shares of Best Buy, a big beneficiary from pandemic-era remote-working, rose 5% in premarket trading,…
WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week reflecting a low number of layoffs across the economy. Jobless claims fell by 18,000 to 215,000 for the week ending February 26, from 233,000 the previous week, the Labor Department reported Thursday. The four-week average for claims, which compensates for weekly volatility, fell by…
The Guns of August is a historical non-fiction novel penned by Barbra Tuchman. It centers around the developments in the month leading up to World War I. It studies the French and German 1914 preparations for a war based on assumptions around the Franco-Prussian War in 1870. What they did not consider was how the…
FRANKFURT, Germany (AP) — Europe is scrambling to reduce its dependence on Russia for energy and bracing for potential disruption to critical natural gas supplies as Russia’s war in Ukraine sends prices to new highs. Natural gas prices hit a record Thursday for a second day in a row as restrictions on oil and gas…
(Reuters) – Kroger Co forecast annual same-store sales and profit above market expectations on Thursday, betting on strong demand for groceries as the pandemic-induced home-cooking trend holds strong, sending shares up about 4% in premarket trading. Despite the reopening of restaurants and bars, Americans have stuck to cooking and eating more at home as they…
By Tommy Wilkes LONDON (Reuters) – Oil prices soared again on Thursday as the Ukraine war triggered a dash for commodities that could be in short supply, while stock markets slipped as investors worried about higher inflation and slowing economic growth. Brent crude oil rose more than 5% to within a whisker of $120 per…
(Reuters) – Best Buy Co Inc forecast downbeat full-year revenue and fell short of holiday quarter sales estimates on Thursday, with the top U.S. electronics retailer shackled by product shortages and an Omicron-caused staffing crunch. Shortages in appliances, mobile phones and gaming consoles due to a global lack of semiconductor chips and supply-chain bottlenecks have…
(Corrects profit figure in last paragraph) By Lawrence White LONDON (Reuters) – Russian stocks and bonds are now “in the realms of utterly uninvestable,” the chief executive of Schroders Peter Harrison told Reuters on Thursday, as Western sanctions squeeze Russia’s economy after its invasion of Ukraine. Russia’s Ukraine invasion has roiled markets worldwide, sending oil…
MOSCOW (Reuters) – Russia has decided to stop supplying rocket engines to the United States in retaliation for its sanctions against Russia over Ukraine, Dmitry Rogozin, head of the state space agency Roscosmos, said on Thursday. “In a situation like this we can’t supply the United States with our world’s best rocket engines. Let them…
By Helen Reid JOHANNESBURG (Reuters) – Disruptions to automotive supply chains in the wake of Russia’s invasion of Ukraine could impact demand for platinum group metals (PGMs), the CEO of South African miner Sibanye-Stillwater said on Thursday. CEO Neal Froneman said supply chain disruptions were his biggest concern as carmakers – key consumers of PGMs…
