By Jonathan Cable, Leika Kihara and Lucia Mutikani LONDON/TOKYO/WASHINGTON (Reuters) – Sluggish global demand deepened the decline in manufacturing activity across Europe and the United States and remained a major challenge for many of Asia’s big exporters, business surveys for May showed on Thursday. Purchasing managers’ indexes (PMIs) for the euro zone moved further below…
By Gwladys Fouche and Sabine Siebold OSLO (Reuters) -NATO Secretary-General Jens Stoltenberg said on Thursday he would soon travel to Turkey to discuss Sweden’s NATO membership, in a bid to close a process that has been delayed due to objections from member countries Turkey and Hungary. Speaking during a two-day meeting of NATO foreign ministers…
(Reuters) – New England is expected to have enough resources this summer to meet consumer demand for power in normal weather conditions, the region’s independent electricity operator said on Thursday. ISO New England forecast electricity demand of about 24,605 megawatts (MW) this summer, compared to last year’s peak demand of 24,780 MW. Above-average summer weather,…
By Ananya Mariam Rajesh (Reuters) -Macy’s Inc on Thursday cut annual sales and profit forecasts, blaming an inflation-induced slowdown in demand for disrupting the department store chain’s plans to rein in margin-crushing discounts it has been offering to lure in customers. Higher rental and food prices have pushed upscale retailers such as Macy’s lower on…
By Jaiveer Shekhawat (Reuters) -Vanguard Group, the world’s largest issuer of mutual funds, was fined and censured by the Financial Industry Regulatory Authority (FINRA) for errors appearing in about 8.5 million customer account statements. FINRA, Wall Street’s self-regulatory organization, said in a filing signed last month by representatives of both parties that Vanguard overstated projected…
By Andrew Goudsward (Reuters) – Outdoor clothing retailer Patagonia Inc has settled its lawsuit accusing Gap Inc of illegally copying the “iconic” snapped flap pocket that the company has long featured on its fleece outerwear. The judge dismissed the case on Wednesday after the companies told the court that they had reached a settlement and…
By Andrew Goudsward (Reuters) – Outdoor clothing retailer Patagonia Inc has settled its lawsuit accusing Gap Inc of illegally copying the “iconic” snapped flap pocket that the company has long featured on its fleece outerwear. The judge dismissed the case on Wednesday after the companies told the court that they had reached a settlement and…
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased modestly last week and private employers hired more workers than expected in May, pointing to continued labor market tightness that could push the Federal Reserve to keep interest rates elevated. The labor market is slowing only marginally, keeping…
By Leigh Thomas PARIS (Reuters) – President Emmanuel Macron has loosened labour laws and cut taxes among other reforms to transform the economy, but has not broken France’s addiction to spending big to buy social peace. Eager to turn the page on months of protests against his plans to raise the retirement age by two…
(Reuters) – The Organization of the Petroleum Exporting Countries with Russia and other allies, or OPEC+, meet on June 4 to discuss whether additional oil production cuts should be implemented. The group in early April surprised markets with output cuts of around 1.16 million barrels per day, fuelling a rise in prices. Going into the…
