(Reuters) – Under Armour Inc on Friday forecast full-year profit below Wall Street estimates, as the sportswear maker grapples with higher costs related to supply chain disruptions and a hit to its business from renewed COVID-19 curbs in China. Shares of Under Armour were down about 3% in premarket trading after the company reported bleak…
(Reuters) -Russia’s Rosneft sold 700,000 tonnes of Urals oil loading from Baltic ports of Primorsk and Ust-Luga in May to Indian Oil Corp (IOC), the country’s top refiner, two traders familiar with the matter told Reuters on Friday. State-owned Rosneft allocated seven 100,000-tonne cargoes loading between May 15 and 31 to IOC, according to the…
SHANGHAI (Reuters) -Tesla is aiming to increase output at its Shanghai plant to 2,600 cars a day from May 16, it said in an internal memo seen by Reuters, as it seeks to restore production to levels before the city locked down to control COVID-19. Tesla, which is now only running one shift, plans to…
By Xie Yu HONG KONG (Reuters) -U.S. regulatory officials have arrived in Beijing seeking to settle a long-running dispute over the auditing compliance of U.S.-listed Chinese firms, three people familiar with the matter told Reuters. The stand-off, if not resolved, could see Chinese firms kicked off New York bourses. This week the U.S. Securities and…
BERLIN (Reuters) – Adidas’ Chief Executive Kasper Rorsted said nothing had changed on the German sportswear company’s 2025 goals, after first-quarter results were dogged by lockdowns in Greater China. Rorsted said that a double-digit sales drop in that market is possible in 2022, as a sudden recovery in China is unlikely, but he predicted strong…
By Alex Lawler, Julia Payne and Ron Bousso LONDON/LAGOS (Reuters) – Almost half the shortfall in planned oil supply by OPEC and its allies is down to Nigeria and Angola, data seen by Reuters shows, reflecting a number of factors including moves by Western oil majors away from African projects. OPEC and its allies, known…
FRANKFURT (Reuters) – The European Central Bank should raise its deposit rate back into positive territory this year, French central bank chief Francois Villeroy de Galhau said on Friday, comments that point to his support for at least three rate hikes in 2022. The ECB has been moving slowly to remove support this year but…
LONDON (Reuters) -Martin Sorrell said his S4 Capital would strengthen its financial controls as he published delayed full-year results that showed 2021 gross profit growth up 44% for the digital advertising group. Sorrell’s 4-year-old company hit its first major hurdle in late March when it was forced to delay its results because the auditor was…
(Reuters) – Holiday Inn owner IHG on Friday signalled a sharp rebound in the hospitality sector as people gradually resume travel after countries eased pandemic-related restrictions, with the United States, its largest market, leading the recovery. IHG’s RevPAR, or revenue per available room, was up 61% over last year, reaching 82% of pre-pandemic levels in…
(Reuters) – Intercontinental Hotels Group on Friday signalled a sharp recovery in the hospitality sector as people gradually resume leisure and business travel after countries eased pandemic-related restrictions. Holiday Inn owner’s RevPAR, or revenue per available room, was up 61% for the three months ended March 31, as the group saw improved trading in its…
