By Granth Vanaik (Reuters) -Gap has named Mattel’s chief operating officer, Richard Dickson, as its top boss after a year-long search, betting on the executive’s success in turning around the Barbie brand to revive the struggling apparel maker. The company’s shares rose as much as 9% in morning trade on Wednesday, with some analysts calling…
By Maria Alejandra Cardona KEY LARGO, Florida (Reuters) – The surface ocean temperature in and around the Florida Keys soared to typical hot tub levels this week, amid recent warnings from global weather monitors about the dangerous impact of warming waters on ecosystems and extreme weather events. A water temperature buoy located inside the Everglades…
(Reuters) -Ukraine’s allies have committed to allocating $244 million and providing special equipment for the purpose of humanitarian mine clearance, First Deputy Prime Minister Yulia Svyrydenko said on Tuesday. “Our task is not only to demine the entire territory in order to save people’s lives, but also to speed up this process,” Svyrydenko, who is…
By Steve Scherer and Fergal Smith OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau has fueled economic growth and plugged gaps in the labor market by ramping up immigration, but now new arrivals are straining public services and contributing to an overheating economy, economists say. Since taking power in 2015, Trudeau has brought in an…
(Reuters) – Insurance company Chubb beat estimates for quarterly profit on Tuesday as higher returns from its investments cushioned a hit from catastrophe-related claims. Investment income, which had slumped for most insurance firms that invest a chunk of their profits across classes, has recovered this year as markets rally. The benchmark S&P 500 Index has…
By Jessica DiNapoli NEW YORK (Reuters) – Global consumer products maker Procter & Gamble dropped its pledge from a corporate policy to not buy wood pulp from degraded forests, a company executive disclosed to investors in a previously-unreported July 18 briefing. The change drew the ire of several P&G investors. One of the world’s major…
SAO PAULO (Reuters) -Brazilian lender Santander Brasil on Wednesday reported a 45% drop in second quarter net profit, dragging on the performance of its Spanish parent. The bank, an unit of Spain’s Banco Santander, said in a securities filing its net income reached 2.26 billion reais ($475.76 million) in the period. That was 5.5% higher…
By Akash Sriram and Stephen Nellis (Reuters) -Artificial intelligence is expected to pay off big for tech giants including Microsoft and Alphabet someday. But expect deeper investments before gains trickle to the bottom line, the companies said on Tuesday. Microsoft said costs rose sharply as it built new data centers to support AI and that…
By Giulio Piovaccari MILAN (Reuters) – Stellantis CEO Carlos Tavares said a production target of one million vehicles in Italy it is discussing with Rome was well within reach but it could not be a one-sided commitment and the government must support it. Tavares and Italy’s Industry Minister Adolfo Urso agreed this month on an…
By Aditya Soni (Reuters) – Alphabet rallied more than 5% on Wednesday on signs its dominant Google Search business was faring well in an uncertain advertising market and remained unscathed in the face of competition from an AI-powered Microsoft Bing. The world’s fourth most valuable firm was on track to add more than $80 billion…
