(Reuters) – Shares in U.S. retailers slid in premarket trade on Wednesday after Target Corp warned of a gloomy outlook for crucial holiday quarter sales and announced plans to save up to $3 billion in cost cutting to shore up profits. Target shares were forecast to open nearly 14% lower, dragging down other retailers. Macy’s…
LONDON (AP) — Britain’s inflation rate rose to a 41-year high in October, fueling demands for the government to do more to ease the nation’s cost-of-living crisis when it releases new tax and spending plans Thursday. Consumer prices jumped 11.1% in the 12 months through October, compared with 10.1% in September, the Office for National…
NEW YORK (AP) — An unexpected and potentially ominous pullback in customer spending ahead of the holiday shopping season pushed third-quarter profits at Target down 52% after it was forced to slash prices with Americans feeling the squeeze of inflation. The Minneapolis retailer voiced caution about its sales and profit during the fourth quarter because…
By Amanda Cooper LONDON (Reuters) – Global stocks pared losses and the dollar fell on Wednesday after U.S. President Joe Biden told G7 and NATO partners that a missile blast in Poland was caused by a Ukranian defence missile, dispelling fears that it originated from Russia. Initial relief among investors was enough to encourage some…
By Josh Ye HONG KONG (Reuters) – Tencent Holdings on Wednesday reported a second straight quarterly revenue drop, as China’s economic slowdown and regulatory crackdown hit its ad and gaming businesses. Tencent, the world’s largest video game company and the operator of the WeChat messaging platform, said revenue fell 2% to 140 billion yuan ($19.8…
NUSA DUA, Indonesia (AP) — Members of the Group of 20 leading economies ended their summit Wednesday with a declaration of firm condemnation of the war in Ukraine and a warning that the conflict is making an already delicate world economy worse. The summit’s closing statement was noteworthy because world leaders managed to highlight a…
By Satoshi Sugiyama TOKYO (Reuters) – Toyota Motor Corp rolled out a 2-litre plug-in version of its Prius on Wednesday, in an attempt to reboot the 25-year-old hybrid that was once at the cutting edge of low-emissions technology and appeal more widely to cost-conscious drivers. Toyota billed the new Prius, with its shark-like front and…
TOKYO (AP) — The new Toyota gas-electric Prius hybrid not only comes with more power, acceleration and driving range. It’s also more stylish, scrapping the rather stodgy angular body for a sleekly futuristic look. Simon Humphries, senior general manager of Global Toyota design who unveiled the car in Tokyo on Wednesday, stressed that the company…
TOKYO (AP) — Asian shares mostly declined Thursday amid concerns about the impact of China’s “zero-COVID” strategy mixed with hopes for economic activity and tourism returning to normal. Benchmarks fell in Tokyo, Seoul, Hong Kong and Shanghai, while gaining in Sydney. Oil prices fell. Market watchers noted worries about how the Federal Reserve might not…
By Kevin Buckland and Ankur Banerjee TOKYO (Reuters) – The safe-haven U.S. dollar’s early gains fizzled following volatile trading on Wednesday as traders took comfort from U.S. President Joe Biden’s remarks that a missile that caused a explosion in Poland may not have been fired from Russia. NATO-member Poland and Ukraine say the blast that…
