(Reuters) – Online furniture retailer Wayfair Inc said on Friday it would cut about 870 jobs, or 5% of its global workforce, as it looks to bring down operating expenses and realign investment priorities. (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Anil D’Silva)
(Reuters) – Deere & Co reported a rise in quarterly profit on Friday as higher equipment demand coupled with a robust pricing environment helped the world’s largest farm equipment maker to offset inflationary cost pressures. Gaps between the supply and demand for grains increased amid the Ukraine crisis while growing consumer demand spiked prices, putting…
Stocks are broadly lower on Wall Street in afternoon trading Friday, putting major indexes on track for losses that will end a solid run of weekly gains. The S&P 500 fell 1.3% as of 3:29 p.m. Eastern. The benchmark index is now on pace to break a four-week winning streak. The Nasdaq fell 2% and…
SHANGHAI (Reuters) – Chinese smartphone maker Xiaomi Corp posted a 20% drop in second quarter revenue on Friday, as the world’s biggest smartphone market shrank, hit by strict COVID restrictions. Xiaomi reported 70.17 billion yuan ($10.31 billion) in revenue for the quarter ended on June 30, down from 87.8 billion a year earlier but slightly…
By Shadia Nasralla LONDON (Reuters) -Oil prices slipped on Friday after two days of gains and are heading for weekly losses as a strong dollar and worries about a global economic slowdown weigh. Brent crude futures were down 97 cents, or 1%, at $95.62 a barrel by 0826 GMT. U.S. West Texas Intermediate crude was…
CHONGQING, China (AP) — Ships crept down the middle of the Yangtze on Friday after China’s driest summer in six decades left one of the mightiest rivers barely half its normal width and set off a scramble to contain the damage to a weak economy in a politically sensitive year. Factories in Sichuan province and…
LONDON (AP) — A strike by London Underground workers brought the British capital’s transit network to a grinding halt on Friday, a day after a nationwide walkout by railway staff. Another rail strike is scheduled for Saturday as the U.K. endures a summer of action by workers demanding pay increases to offset soaring food and…
By William Schomberg LONDON (Reuters) -Britain borrowed more than expected in July, official data showed, underscoring the challenge facing the country’s next prime minister over how to provide more support to consumers hit by rocketing energy costs. The Office for National Statistics said on Friday that public sector borrowing excluding state-owned banks stood at 4.944…
By William Schomberg LONDON (Reuters) -Britain borrowed more than expected in July, official data showed, underscoring the challenges facing the country’s next prime minister to provide more support to consumers hit by sky-rocketing energy costs. The Office for National Statistics said on Friday that public sector borrowing excluding state-owned banks stood at 4.944 billion pounds…
ZOLOCHIV, Ukraine (AP) — Dr. Ilona Butova almost looks out of place in her neatly pressed lavender scrubs as she walks through a door frame that hangs from a crumbled wall into what used to be an administrative office of her hospital in Zolochiv. Not one building in the facility in the northeastern Ukrainian town…
