By Katherine Masters NEW YORK (Reuters) – A gulf in spending patterns between wealthy Americans and so-called “aspirational” shoppers is driving luxury retailers to search out new sources of revenue and, in some cases, to shift their merchandise strategies, several retailers said. Jewelry company Signet , which owns brands including Kay, Jared and Zales, was the…
By Shariq Khan BENGALURU (Reuters) – Oil prices fell more than a dollar a barrel on Friday to record a second straight weekly decline, as disappointing Chinese data added to doubts about demand growth after Saudi Arabia’s weekend decision to cut output. Brent crude futures fell $1.17, or 1.5%, to settle at $74.79 a barrel,…
By Elizabeth Howcroft, Hannah Lang and Rae Wee (Reuters) -The U.S. affiliate of Binance said it was halting dollar deposits, while trading platform Robinhood Markets said it was delisting some crypto tokens, after the U.S. securities regulator stepped up its crackdown on the crypto sector. Binance.US, the purportedly independent partner of Binance, said in a…
By Jonathan Stempel NEW YORK (Reuters) – Indicted U.S. Representative George Santos on Friday appealed a ruling requiring that the identities of two people who guaranteed his $500,000 bail be disclosed, saying that releasing their names could threaten their safety. In a letter to U.S. District Judge Joanna Seybert, Santos’ lawyer Joseph Murray said the…
By Julie Steenhuysen and Michael Erman (Reuters) – The U.S. Food and Drug Administration said on Friday it is seeking new suppliers to ease shortages of methotrexate, one of the most commonly used cancer drugs, building on its push to shore up two other scarce chemotherapy medicines. An FDA spokesperson told Reuters the agency is…
(Reuters) – Traders who have sold Tesla Inc shares short have lost about $6.08 billion on a mark-to-market basis during the electric car maker’s current winning streak, according to the latest data from S3 Partners. Tesla’s current rally, which will span 11 sessions if it closes Friday’s session higher, has the stock up around 35%…
By Dietrich Knauth NEW YORK (Reuters) – A U.S. judge on Friday dismissed the bankruptcy of 3M subsidiary Aearo Technologies, rejecting an effort to resolve nearly 260,000 lawsuits alleging that 3M military earplugs caused hearing loss for veterans and U.S. service members. U.S. Bankruptcy Judge Jeffrey Graham ruled that Aearo, as a well-supported subsidiary of…
By Benoit Van Overstraeten and Leigh Thomas PARIS (Reuters) -French shoppers should pay less for their food from next month, Finance Minister Bruno Le Maire said on Friday, after he secured a pledge from 75 food companies including Unilever to cut prices on hundreds of products. The companies, which together make 80% of what the…
LONDON (Reuters) – Goldman Sachs said on Friday the appointments of Mehmet Simsek as Turkish finance minister and Hafize Gaye Erkan as central bank governor suggested a widespread understanding in the new administration that monetary and fiscal adjustments were needed. The Wall Street bank, in an overhaul to a number of its forecasts for Turkey,…
By David Ljunggren OTTAWA (Reuters) – Wildfires spread in the western Canadian province of British Columbia on Friday, while in the east, Quebec said it would start efforts to control blazes that have sent smoke billowing across North American cities. Canada is enduring its worst start to the wildfire season, with 2,392 fires so far…
