(Reuters) -Apparel retailer Gap Inc is eliminating hundreds of jobs from its global workforce, the Wall Street Journal reported on Tuesday, citing people familiar with the situation. The company joins a growing number of American firms, including tech giant Facebook-parent Meta Platforms Inc and consumer companies Clorox Co and Wayfair Inc, to downsize its workforce…
By Daina Beth Solomon MEXICO CITY (Reuters) – An impending change in U.S. border policy could put increased pressure on Mexico’s migrant detention system and lead to more reports of rights violations, migrant advocates have warned, in the wake of a fire that killed 40 people. On May 11 the U.S. is slated to lift…
TOKYO (Reuters) – U.S. Trade Representative Katherine Tai said on Tuesday the Biden administration’s signature Asian engagement project called the IPEF is designed to create no conflict with other trade agreements in the region, where China is expanding its clout. The Indo-Pacific Economic Framework (IPEF), which U.S. President Joe Biden launched last May, is aimed…
By James Davey LONDON (Reuters) – In April 2020, budget fashion chain Primark was on its knees, unable to sell hundreds of millions of pounds of stock with its entire store network shut in COVID-19 lockdowns and no online capability. Fast forward three years and the retailer, unlike several former competitors, is starting to thrive…
By Jonathan Stempel NEW YORK (Reuters) -Here is a timeline of former Elle magazine advice columnist E. Jean Carroll’s civil lawsuit accusing former U.S. President Donald Trump of rape and defamation, which goes to trial on Tuesday. June 2019 – Carroll publishes an excerpt from her memoir, “What Do We Need Men For? A Modest…
By Andrea Shalal and Trevor Hunnicutt WASHINGTON (Reuters) -President Joe Biden’s campaign launch video promises to protect Americans’ personal freedoms, seizing a theme often embraced by Republicans, as he attacked “MAGA extremists” for targeting women’s reproductive choice, Social Security and voting rights. Closely watched for clues as to what shape Biden’s 2024 presidential re-election campaign…
By Doyinsola Oladipo NEW YORK (Reuters) -Major global consumer-facing companies like McDonald’s, General Motors and Nestle posted steady first-quarter results built on higher prices, showing how consumers across major economies are still spending despite slowed economic activity. Shoppers have absorbed price increases for soda, appliances and other goods, bolstering company profits. However, sales volumes declined…
By Priyamvada C (Reuters) -United Parcel Service Inc on Tuesday pegged annual revenue at the lower end of its prior forecast and warned of persistent pressure on parcel volumes, sending shares of the world’s largest parcel delivery firm sharply down. The commentary from the freight bellwether could mean a delayed recovery in volumes for the…
By Raghav Mahobe and Nandhini Srinivasan (Reuters) -Centene Corp on Tuesday maintained its long-term profit growth targets allaying investor concerns over a blow to its business from competition in the fast-growing Medicare Advantage segment, sending the health insurer’s shares up 4%. Centene received a lower “Star Rating” for its Medicare Advantage health offerings in October,…
By Kannaki Deka (Reuters) – 3M Co will cut about 6,000 positions globally in a second round of lay-offs this year, as the U.S. industrial conglomerate looks to rein in costs amid waning demand for consumer electronics. The diversified manufacturer said on Tuesday it will shift its focus to high-growth businesses, including automotive electrification and…
