By Lucia Mutikani WASHINGTON (Reuters) -The number of Americans filing new claims for jobless benefits unexpectedly rose last week, but remained below pre-pandemic levels as labor market conditions continue to tighten. The first increase in a month reported by the Labor Department on Thursday did not change economists’ expectations for another month of solid employment…
By Richa Naidu LONDON (Reuters) – European retailers are locked in extended price negotiations with giant food companies – including the world’s biggest, Nestle – as they fight to retain shoppers and protect their profits. Major consumer products companies across the world have announced plans to boost prices at a faster pace than last year…
By Joseph White DETROIT (Reuters) – Nissan Motor Co said on Thursday it will invest $500 million to retool its U.S. assembly plant near Canton, Miss. to build two new electric vehicles, part of the Japanese automaker’s $18 billion program to expand its electric vehicle fleet through 2030. Nissan said it plans to assemble electric…
By Mimosa Spencer and Silvia Aloisi PARIS (Reuters) – Gucci owner Kering said on Thursday it was on the hunt for possible acquisitions and might expand in more U.S. cities, after a sales surge showed resilience in demand for luxury goods even as inflation soars. The luxury industry has fast recovered from the fallout of…
By Joseph White and Kannaki Deka (Reuters) -No. 1 U.S. auto retailer AutoNation Inc beat Wall Street estimates for fourth-quarter profit and revenue on Thursday on robust demand for used vehicles boosted by consumer preference for personal transportation due to the COVID-19 pandemic. Shares of the company were up as much as 5% in premarket…
WASHINGTON (AP) — Applications for U.S. unemployment benefits rose last week but remain near historically low levels, reflecting relatively few layoffs across the economy. Jobless claims rose by 23,000 to 248,000 for the week ending Feb. 12, the Labor Department reported Thursday. Claims were revised upward to 225,000 the previous week. Yet the four-week average…
(Reuters) – Shares of DoorDash Inc surged 26% in premarket trade on Thursday after the food-delivery company beat estimates for quarterly revenue, a rare bright spot among stay-at-home darlings that have seen their stocks languish post results. The company’s 34% revenue rise, although slower than the blistering pace recorded a year earlier, still indicated that…
BERLIN (Reuters) – German sportswear company Adidas said on Thursday it would grow in its key market of China in 2022 even after it was hit by renewed pandemic restrictions and the aftermath of a consumer boycott of Western brands. The comments come after Manager Magazin reported Adidas expects sales in China to be down…
ANKARA, Turkey (AP) — Turkey’s central bank on Thursday kept its key interest rate unchanged for a second consecutive month despite soaring inflation that has left many in the country struggling to purchase food and basic goods. A statement from the bank’s Monetary Policy Committee said it will keep its policy rate “constant” at 14%….
NEW YORK (AP) — Walmart muscled through rising inflation, a snarled global supply chain and surging costs related to COVID-19 sick leave among its workers to deliver strong fourth quarter results Thursday. The nation’s largest retailer, based in Bentonville, Arkansas, also delivered on Thursday an upbeat outlook for this year and boosted its dividend. Shares…
