By Siddharth Cavale (Reuters) -Walmart Inc struck a cautious note in its economic outlook for 2023 on Tuesday as the retail bellwether forecast full-year earnings below estimates and warned that cautious spending by consumers could pressure profit margins. Shares of the world’s largest retailer rose 0.5%. The company continues to battle price-hikes from many of…
By Dietrich Knauth (Reuters) – Revlon Inc on Tuesday announced a deal with a holdout faction of lenders, removing the largest remaining roadblock to a plan that would allow the cosmetics maker to exit from bankruptcy by April. With the latest settlement in place, Revlon now has the support of all of its major creditor…
(Corrects typo in penultimate paragraph) By Stephen Nellis (Reuters) -Amazon Web Services (AWS), the cloud computing arm of Amazon.com Inc, on Tuesday said it is collaborating with startup Hugging Face, a software development hub, to make it easier to carry out artificial intelligence work (AI) in Amazon’s cloud. While new generative AI services like chat-based…
WASHINGTON (Reuters) -U.S. existing home sales dropped to the lowest level in more than 12 years in January, but the pace of decline slowed, raising cautious optimism that the housing market slump could be close to reaching a bottom. The report from the National Association of Realtors on Tuesday also showed the smallest increase in…
SHANGHAI (Reuters) -Chinese fintech giant Ant Group said on Tuesday it had entered a strategic partnership with the NBA league in China that would see the two cooperate in areas such as video content, programme broadcasting and membership. Fans in China would have access to NBA video content on Alipay, the hugely popular payments app…
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) – Canada’s annual inflation rate eased more than expected to 5.9% in January, data showed on Tuesday, backing up the Bank of Canada’s declared aim to keep rates on hold at its next meeting to let previous rate hikes sink in. Analysts had expected inflation to edge…
Feb 21 (Reuters) – Canadian retail sales rose by 0.5% in December from November at C$62.12 billion ($46.19 billion), on higher sales at motor vehicles and parts dealers, as well as general merchandise stores, Statistics Canada said on Tuesday. Sales were seen to rise by 0.7% in January, the agency said in a flash estimate….
JOHANNESBURG (Reuters) – South Africa’s biggest food producer Tiger Brands said on Tuesday its four-month revenue to end January rose 17% year-on-year as it raised prices to manage soaring input costs. Consumer goods producers globally have lifted prices to cope with surging costs for almost all raw materials, energy and packaging after Russia’s invasion of…
(Reuters) -Home Depot Inc forecast annual profit below Wall Street expectations on Tuesday as demand for home improvement products dwindle due to soaring inflation, while it grapples with higher costs and a tighter labor market. The No. 1 U.S. home improvement chain posted a surprise drop in fourth-quarter comparable sales, sending its shares down more…
By Radhika Anilkumar (Reuters) -Holiday Inn owner IHG missed full-year revenue expectations as it was impacted by COVID-19 curbs in China, while a $750 million share buyback did little to cushion a drop in its share price on Tuesday. While the tourism industry is gradually recovering from the aftermath of the pandemic, hotel chains have…
