(Reuters) – Canadian companies across industries have laid off thousands in recent months as a post-pandemic spending splurge fades and rising interest rates fan fears of a possible recession. The cuts mirror the tens of thousands of layoffs seen in the United States, where major companies such as Meta Platforms have carried out multiple rounds…
(Reuters) – Oreo-maker Mondelez International said on Thursday it has scaled down operations in Russia and plans to make it a stand-alone business with a self-sufficient supply chain before the end of the year. The Chicago-based snack maker, which has faced a widening corporate boycott in the Nordic region over its presence in Russia, said…
By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) -European shares slipped on Thursday after the European Central Bank (ECB) raised borrowing costs as expected and signalled more policy tightening in its fight against sticky inflation. The continent-wide STOXX 600 index closed 0.1% lower after falling as much as 0.8% earlier in the day. The ECB…
By Granth Vanaik (Reuters) – Supermarket chain Kroger in a cautious move on Thursday reaffirmed its annual forecasts after it beat Wall Street estimates for first-quarter profit and same-store sales on steady demand for essentials and easing supply chain costs. Shares of the retailer, which had consistently raised its outlook over the past two years,…
By Nafisa Eltahir and Khalid Abdelaziz CAIRO/DUBAI (Reuters) – The conflict in Sudan hit the two-month mark on Thursday with no sign of a resolution as diplomatic peace efforts hit roadblocks and the risk of a broader ethnic war rises. Fighting between the army and paramilitary Rapid Support Forces (RSF), which a U.S. diplomat earlier…
LIMA (Reuters) – Peru’s gross domestic product (GDP) expanded 0.31% in April compared with the same month last year, the government’s INEI statistics agency said on Thursday, nevertheless landing below analysts’ expectations. Analysts polled by Reuters had forecast growth of 1.5% increase, after a 0.22% rise recorded in March. The increase marks the second consecutive…
By Scott DiSavino NEW YORK (Reuters) -Oil prices rose over 2% to a one-week high on Thursday as the U.S. dollar weakened and data showed a jump in refinery runs in top crude importer China. Brent futures rose $1.76, or 2.4%, to $74.96 a barrel by 11:21 a.m. EDT (1521 GMT). U.S. West Texas Intermediate…
By Andrew Gray and Sabine Siebold BRUSSELS (Reuters) -Top U.S. defence officials said on Thursday Ukraine faces a tough fight in its counter-offensive against Russian forces and urged Kyiv’s allies to “dig deep” to provide more arms and ammunition. “Ukraine has begun their attack and they are making steady progress. This is a very difficult…
ROME (Reuters) -Generali will buy out the Spanish unit of U.S. insurer Liberty Mutual for 2.3 billion euros ($2.51 billion), in a move aimed at strengthening its property and casualty segment, Italy’s top insurer said on Thursday. “Generali is acquiring a profitable insurance business in three growing European markets with very attractive characteristics, that will…
By Victoria Waldersee BERLIN (Reuters) -Tesla will hire fewer temporary workers at its plant outside Berlin than it did in its ramp-up phase and refrain from Saturday shifts, but it is still on track to achieve its production targets, the company said on Thursday. The comments followed a report by Business Insider earlier on Thursday…
