By Uday Sampath Kumar (Reuters) -Capri Holdings Ltd raised its profit forecast for the full year on Wednesday, as Versace dresses and Michael Kors handbags come back in vogue for higher-income consumers returning to their lavish shopping routines. Shares of Capri, which also owns Jimmy Choo, rose 4.6% to $50.98 as the company announced a…
By Paul Lienert (Reuters) -General Motors Co’s Buick brand, once one of America’s pioneer auto companies, said Wednesday that its future North American lineup will be all-electric by 2030. That target will make Buick one of GM’s lead brands, along with Cadillac, in pursuing the corporate goal of phasing out internal combustion engines by 2035….
(Reuters) – BlackBerry Ltd said on Wednesday it was exploring other options to sell its patents as the planned deal with Catapult IP Innovations Inc was taking longer than usual to close, leading to a loss in exclusivity. The Canadian company had earlier this year agreed to sell its patents primarily related to mobile devices,…
(Reuters) – Futures tracking the Dow and the S&P 500 edged higher on Wednesday after Salesforce posted robust quarterly results, while investors awaited factory activity data for cues on the strength of the U.S. economy. Shares of Salesforce jumped 8.6% in premarket trading after the enterprise software firm raised its full-year adjusted profit outlook and…
(Reuters) – Delta Air Lines Inc said on Wednesday it expects second-quarter adjusted revenue at pre-pandemic levels due to the easing of COVID-19 curbs and bottled-up travel demand. The company’s shares were up 2.4% at $42.50 in premarket trading after the airline raised its operating margin outlook for the current quarter to 13%-14%, compared with…
TOKYO (Reuters) -Panasonic Holdings Corp, which makes batteries for Tesla, said on Wednesday it had shipped samples of its more powerful 4680 format electric car battery to the U.S electric vehicle maker as it prepares for a surge in North American power pack production. Panasonic said mass production of the new battery is set to…
COPENHAGEN, Denmark (AP) — Denmark’s largest energy company said Russia cut off its gas supply Wednesday because it refused to pay in rubles, the latest escalation over European energy amid the war in Ukraine. Russia previously halted natural gas supplies to Finland, Poland and Bulgaria for refusing a demand to pay in rubles. And on…
(Reuters) – Michael Kors owner Capri Holdings Ltd raised its full-year profit forecast on Wednesday, signaling robust demand for its luxury goods as higher-income consumers return to their old shopping routines. Shares of the company, which owns Versace and Jimmy Choo, rose about 6% to $51.51 in premarket trading. The effects of 40-year-high inflation has…
(Reuters) – Binance Labs, the venture capital arm of cryptocurrency exchange Binance, said on Wednesday it had raised $500 million for its investment fund focused on companies involved in the blockchain and Web3 spaces. The fund is supported by investment firms DST Global Partners, Breyer Capital and Whampoa Group as well as by other private…
By Lisa Richwine LOS ANGELES (Reuters) – Cinemark Holdings Inc has signed up 1 million paying subscribers to its Movie Club monthly subscription plan, the company said on Wednesday, hailing a rebound in moviegoing after disruptions from the coronavirus pandemic. The third-largest movie theater chain in the United States said it was the first cinema…
