By Manas Mishra and Michael Erman (Reuters) -Walgreens Boots Alliance on Tuesday warned that lower spending by inflation-weary consumers and a hit from a larger-than-expected drop in COVID-19 product sales would likely persist into next year, sending its shares down by 9%. The end of the COVID emergency in May led to a steep drop…
By Abhirup Roy and Akash Sriram (Reuters) – Amazon.com Inc’s self-driving vehicle unit Zoox has grown its headcount by about 16% at a time when access to capital is tight and other large companies have exited the autonomous driving sector. Amazon’s shares were 1.2% higher at $128.84 in early afternoon trading. Based in California, Zoox,…
By Dietrich Knauth NEW YORK (Reuters) – A U.S. bankruptcy judge on Tuesday approved Overstock.com’s $21.5 million purchase of Bed Bath & Beyond’s brand name, intellectual property and ecommerce platform. U.S. Bankruptcy Judge Vincent Papalia approved the sale at a court hearing in Newark, New Jersey, saying that he was “gratified” to see a bidder…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices slumped over 2% on Tuesday on signals that central banks may not be done with interest rate hikes, while industry data showed lower U.S. crude and gasoline inventories during the peak summer driving season. Brent crude futures settled down $1.92, or 2.6%, at $72.26 a barrel. U.S….
(Reuters) – Harley-Davidson on Tuesday named insider Jonathan Root as its new chief financial officer to succeed Gina Goetter who stepped down in April. Root, who will take charge immediately, most recently served as senior vice president of Harley-Davidson Financial Services (HDFS) after joining it in 2011. He has previously held a variety of roles…
WASHINGTON (Reuters) -Sales of new U.S. single-family homes surged to the highest level in nearly 1-1/2 years in May, benefiting from a dearth of previously owned homes available for sale. New home sales jumped 12.2% to a seasonally adjusted annual rate of 763,000 units last month, the highest level since February 2022, the Commerce Department…
WASHINGTON (Reuters) – President Joe Biden said on Tuesday the United States economy is “strong now” and he does not expect a recession, a day before delivering an economic policy speech in Chicago. Biden delivered his remarks on Tuesday at a private fundraiser in Chevy Chase, Maryland. He will deliver a speech on Wednesday in…
WASHINGTON (Reuters) -The United States will provide Kyiv with a new military package worth up to $500 million, the Pentagon said on Tuesday, in a show of support for Ukraine’s fight against Russia as Moscow deals with the aftermath of a mutiny by mercenary fighters. The package will include ground vehicles including Bradley fighting vehicles…
By Jaiveer Shekhawat and Lananh Nguyen (Reuters) -Jefferies Financial Group Inc on Tuesday posted second-quarter profit that edged past analysts’ estimates as robust performance in the investment bank’s capital markets business cushioned a slump in dealmaking. The New York-based firm’s results are a precursor to earnings from Wall Street titans such as JPMorgan Chase &…
BRASILIA (Reuters) -Brazil’s planning and budget minister, Simone Tebet, said on Tuesday that the country’s central bank is causing “unnecessary noise” by publishing varying comments regarding its plans for the benchmark interest rate. Last week, the country’s central bank maintained its benchmark interest rate at 13.75% for the seventh consecutive time, but took a more…
