By Bansari Mayur Kamdar (Reuters) -Futures tracking the technology-heavy Nasdaq 100 index slumped almost 2% on Tuesday as traders returned from a long holiday weekend to position for a more hawkish Federal Reserve ahead of a policy meeting next week. Rate-sensitive tech stocks came under pressure as two-year Treasury yields, which track short-term rate expectations,…
By Akriti Sharma, Ross Kerber and Simon Jessop BOSTON/LONDON (Reuters) -Larry Fink, chief executive of the world’s biggest asset manager BlackRock Inc, has defended its focus on the interests of society as well as on profits as business sense, but drew criticism from campaigners for not going far enough. Asset managers increasingly analyse corporate performance…
(Reuters) – Activist hedge fund Macellum Advisors GP LLC said on Tuesday Kohl’s Corp should explore strategic alternatives, including a sale, if the department store chain’s board is “unwilling to pursue improvements.” Macellum also said there were well-capitalized strategic and financial buyers that could pay a meaningful premium to acquire Kohl’s. (Reporting by Praveen Paramasivam…
By Silke Koltrowitz ZURICH (Reuters) -Swiss chocolate maker Lindt & Spruengli expects sales of its upmarket chocolates to grow less in 2022 than last year, it said on Tuesday, and blamed supply chain bottlenecks for a slowdown in late 2021 in North America. The maker of the best-selling Lindor chocolate balls, which has maintained spending…
(Reuters) – Futures tracking the tech-heavy Nasdaq 100 index slumped almost 2% on Tuesday as traders returned from a long holiday weekend to position for a more hawkish Federal Reserve ahead of a policy meeting next week. Rate-sensitive technology stocks came under pressure in Europe and Asia as two-year Treasury yields, which track short-term rate…
BERLIN (Reuters) – Hugo Boss said on Tuesday that it had exceeded its full year sales targets after fourth quarter earnings helped propel the German fashion house back to nearly pre-pandemic levels. The company said revenue rose 43% in 2021 to 2.786 billion euros ($3.17 billion), on a preliminary basis after adjusting for currency effects….
By Farah Master HONG KONG (Reuters) – Macau’s Legislative Assembly published the draft of a highly anticipated gaming bill on Tuesday that gave details on the Chinese territory’s goal of tightening its grip on casino firms and reining in so-called junket operators. The proposed changes, which need legislators’ approval to become law, mark the biggest…
(Reuters) – Newly spun-off commercial vehicle maker Daimler Truck sold 455,000 units in 2021, the company reported on Tuesday, a fifth more than last year but still 13% below pre-pandemic levels. Supply chain bottlenecks slowed production particularly in the second half in the United States and Europe, the company said in a statement. Trucks Asia…
BERLIN (Reuters) – New car registrations in Europe fell 1.5% in 2021, even further below the previous record low of 2020 sales, industry data showed on Tuesday. A global semiconductor shortage and other supply chain issues have dampened deliveries of cars globally, with many carmakers sitting on half-finished goods and unable to meet demand. Germany…
LONDON (Reuters) -Britain’s payments regulator on Tuesday fined five payments companies including Mastercard a total of 33 million pounds ($45.01 million) for cartel behaviour involving prepaid cards issued to vulnerable people on welfare benefits. Mastercard received the largest fine of 31.56 million pounds ($43.04 million). The other companies fined were allpay, Advanced Payment Solution, Prepaid…
