By Emilio Parodi and Mimosa Spencer MILAN/PARIS (Reuters) -Europe’s flourishing luxury goods industry was under scrutiny on Thursday after European Union antitrust regulators inspected Gucci’s Milan headquarters this week as part of an investigation spanning several countries and companies. The European Commission said on Tuesday that antitrust regulators had raided companies in the fashion sector…
(Reuters) – The unprecedented speed at which depositors pulled their money from Silicon Valley Bank outpaced the ability of the Federal Reserve to act as lender of last resort, underscoring the need for faster processing of emergency loans, Fed Governor Christopher Waller said on Thursday. Since the run on SVB that forced regulators to shut…
By Kanishka Singh WASHINGTON (Reuters) -The U.S. Justice Department said on Thursday it reached a settlement with memory chipmaker Micron Technology Inc to resolve an allegation of immigration-related employment discrimination. “The settlement resolves the department’s determination that Micron violated the Immigration and Nationality Act (INA) by discriminating against a U.S. citizen when it failed to…
By Nandita Bose WASHINGTON (Reuters) -Republican U.S. lawmakers on Thursday criticized President Joe Biden’s nominee for U.S. labor secretary, Julie Su, saying she dismantled the gig economy, hurting companies such as Uber and DoorDash Su, a civil rights lawyer and former California labor commissioner, found unequivocal support from several Democrats on the committee. She needs…
By Andrew MacAskill and Alistair Smout LONDON (Reuters) -British Prime Minister Rishi Sunak will delay until at least Friday the publication of a report into claims that his deputy bullied staff, two government officials said, despite having had hours to review the findings and reach a conclusion. Sunak spent much of Thursday considering the findings…
By Mike Spector NEW YORK (Reuters) -A U.S. judge on Thursday halted most of the tens of thousands of lawsuits alleging Johnson & Johnson’s baby powder and other talc products caused cancer and stopped any trials as part of a company subsidiary’s second attempt to settle cases in bankruptcy proceedings. U.S. Bankruptcy Judge Michael Kaplan…
By Helen Reid LONDON (Reuters) – IKEA stores owner Ingka Group will spend 2 billion euros ($2.2 billion) expanding in the United States over the next three years, its biggest investment in a single country, in a bet to win American customers as other big-box retailers close stores. Sweden’s IKEA, which opened its first U.S….
MILAN (Reuters) -Sales at Italian luxury group Salvatore Ferragamo declined by 6.5% at constant exchange rates in the first quarter hit by a slowdown in the U.S. market, the company said on Thursday. Revenues totalled 278 million euros ($305 million), broadly in line with analyst expectations of 280 million euros, according to a Refinitiv consensus….
WASHINGTON (Reuters) – The Senate Judiciary Committee’s chairman called on U.S. Chief Justice John Roberts to testify at a May 2 hearing on Supreme ethics reform after earlier urging him to investigate ties between Justice Clarence Thomas and a wealthy Republican donor. Democratic Senator Dick Durbin, the panel’s chairman, said the hearing follows “a steady…
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased moderately last week, suggesting the labor market was gradually slowing as the Federal Reserve’s year-long interest rate hiking campaign dampens demand. Though measured, the loss of labor market momentum added to slumping retail sales and manufacturing activity in…
