(Reuters) – McDonald’s Corp said on Thursday it has agreed to sell its Russian business to current licensee Alexander Govor, days after announcing it would exit the country. Govor will acquire McDonald’s entire restaurant portfolio and operate them under a new brand, McDonald’s said. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Arun Koyyur)
(Reuters) -Canada Goose Holdings Inc forecast annual earnings and revenue above Wall Street expectations after reporting a surprise quarterly profit on Thursday, encouraged by strong demand for its luxury parkas and jackets. U.S.-listed shares of the Toronto, Ontario-based company rose 10% before the bell, a day after a broad market sell-off triggered by poor results…
(Reuters) – Kohl’s Corp cut its full-year earnings forecast on Thursday, joining some of America’s biggest retailers in warning that a four-decades high inflation is starting to take a toll on profit margins and consumer spending power. Kohl’s shares have fallen about 11% this week as profit warnings from Walmart Inc and Target Corp added…
By David Shepardson WASHINGTON (Reuters) -Ford Motor Company said Thursday https://media.ford.com/content/fordmedia/fna/us/en/news/2022/05/19/ford-motor-company-recalls-expedition-navigator.html it was recalling 39,000 SUVs after reports of 16 fires, and has advised owners to park their vehicles outdoors and away from structures until a fix is completed. The recall, which covers some 2021 model year Ford Expedition and Lincoln Navigator vehicles, was prompted…
By Bernadette Christina and Fransiska Nangoy JAKARTA (Reuters) – Indonesian lawmakers on Thursday requested the government review a ban on palm oil exports after industry groups warned that one of the country’s leading sectors could grind to a halt in coming weeks as storage nears full capacity. Indonesia, the world’s top palm oil producer, has…
(Reuters) – Russia’s economy will contract by no more than 5% in 2022, presidential adviser Maxim Oreshkin said on Thursday, giving a much more optimistic forecast than the economy ministry. The ministry said this week it expected gross domestic product (GDP) to contract by 7.8% in 2022. Previously, it had said the economy was on…
KOENIGSWINTER, Germany (AP) — Finance ministers for the Group of Seven leading economies grappled Thursday with deepening inflation concerns and the immediate effects of Russia’s war in Ukraine, with U.S. Treasury Secretary Janet Yellen promising that the allies would put together enough additional aid to help Ukraine “get through this.” “All of us pledged to…
By Paul Sandle LONDON (Reuters) -Low-cost carrier easyJet said it was “in the right place” to meet pent-up demand for summer flights, with bookings above pre-pandemic levels in the last 10 weeks and sold ticket yields for the fourth quarter 15% higher than in 2019. Chief Executive Johan Lundgren said easyJet was “absolutely focused” on…
By Sonali Paul BRISBANE (Reuters) -Woodside Petroleum’s shareholders on Thursday voted for a merger with BHP Group’s petroleum arm to create a top 10 global independent oil and gas producer worth $40 billion, according to a vote count at the company’s annual meeting. Of the total final votes, 98.66% were in favour of the deal….
By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) – Sri Lanka’s central bank governor said on Thursday he will stay on as head of the bank given an improvement in political stability in the midst of an economic crisis, and he would not step down as he had earlier said he would. Governor P. Nandalal…
