DETROIT (Reuters) – Ford Motor Co plans “dramatic reductions” in the complexity of its product lineup starting in the 2024 model year, Jim Baumbick, the automaker’s product development chief, said Wednesday at a conference hosted by Bank of America. At the same time, Ford plans to develop more variations of certain model lines, such as…
By Siddharth Cavale (Reuters) -Walmart Inc on Wednesday said inflation would continue to pressure its business this year, and that it would slow its pace of hiring as it builds out automation technology amid a tight labor market. “We believe, over time, the number of associates will grow, but at a slower pace than in…
By Lisa Baertlein and Kannaki Deka LOS ANGELES (Reuters) -FedEx Corp said on Wednesday it will consolidate its separate delivery companies into a single entity, as the group slims its bloated infrastructure to compete better with United Parcel Service and Amazon. The move to integrate FedEx Ground, its outsourced package delivery arm, with the FedEx…
(Reuters) – Cleveland Federal Reserve Bank President Loretta Mester said on Wednesday it was too early to know if the U.S. central bank would need to raise its benchmark interest rate at its next policy meeting in early May. Her comments, in an interview with Bloomberg TV, came a day after she gave a speech…
(Reuters) -Conagra Brands Inc raised its full-year profit forecast on Wednesday, as the Slim Jim beef jerky maker bets on price increases to shield its margins at a time when demand for its frozen foods and snacks showed signs of weakening. Packaged food companies have been raising product prices to limit margin pressures from elevated…
(Reuters) – Conagra Brands Inc raised its full-year profit forecast on Wednesday, as the Slim Jim beef jerky maker bets on price increases and resilient demand for its frozen foods, snacks and other packaged meals. Shares of the company rose about 3% before the bell, after it also edged past analysts’ estimates for third-quarter sales….
BERLIN (Reuters) -Germany’s antitrust regulator has opened the door for measures to curb Apple after deciding that the U.S. tech giant’s market dominance makes it worthy of such measures, the body said in a statement on Wednesday. The Bundeskartellamt regulator has designated Apple a “company of paramount significance for competition across markets”, it said. “The…
By Medha Singh and Lisa Pauline Mattackal (Reuters) – Even as bitcoin flies high, investors are keeping their options open, judging by a record race to derivatives. Open interest for bitcoin options and futures has spiked over the past month as fear has stalked global banking, hitting an all-time high of 433,540 contracts on March…
(Reuters) – Exxon Mobil Corp has ended a major campaign to find oil in Brazil, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The oil and gas giant has stopped current drilling at the offshore acreage it started snapping up with partners for $4 billion in 2017, after failing for…
By Dhara Ranasinghe LONDON (Reuters) – World stock markets stumbled on Wednesday as signs that the economic outlook is weakening spurred caution, while a bigger-than-expected interest-rate hike from New Zealand lifted the kiwi dollar. European stocks fell with the broad STOXX 600 index pulling away from Tuesday’s one-month highs. U.S. equity futures dipped and Japan’s…
