By Helen Reid and Linda Pasquini LONDON (Reuters) – The trend for low-rise rubber-soled “terrace” sneakers could give Adidas and Puma an advantage over Nike this summer, but may not offset weakening U.S. and Chinese demand. German sportswear giants Adidas and Puma have trawled their archives to re-release old styles in new colours, driving renewed…
By Ruma Paul DHAKA (Reuters) -S&P Global Ratings on Tuesday lowered Bangladesh’s long-term rating outlook to negative from stable, citing risks the country’s external liquidity position could deteriorate in the next year while foreign exchange reserves remain under pressure. The ratings agency expects the economy to expand between 6% to 6.4% annually between 2024 and…
By Savyata Mishra (Reuters) -The fanfare around Margot Robbie-starrer “Barbie” could jolt the iconic Mattel doll’s sales out of a year-long slump, but Wall Street thinks the party in pink will be short-lived. While Mattel will report second-quarter results on Wednesday, days after the theatrical release of the movie, analysts say the boost for Barbie…
By Eric Beech and Kanishka Singh WASHINGTON (Reuters) -The U.S. Justice Department on Monday sued Texas over floating barriers installed by the state in the Rio Grande river to block migrants crossing from Mexico. Texas authorities began installing the string of buoys in the middle of the river near Eagle Pass, Texas, last week, part…
By Medha Singh and Lisa Pauline Mattackal XRP has become the unlikely white knight of crypto, thwarting its regulatory foes and dragging the market out of the doldrums. The price of XRP popped 78% after a U.S. judge ruled on July 13 that issuer Ripple Labs’ sales of the token on public exchanges didn’t violate…
(Reuters) – Australian retail conglomerate Wesfarmers said on Tuesday it will merge the business units of its budget department store Kmart and discount retailer Target as the group attempts to reduce losses amid persistently high inflation. The operations of the two flagship brands would be combined into one entity as market conditions worsen while customers…
A look at the day ahead in European and global markets from Tom Westbrook Earnings and hope for a turning in China’s markets are the prelude to this week’s big central bank decisions. Microsoft, Google parent Alphabet, Visa, recruiter Robert Half, General Electric, 3M, Dow, chipmaker Texas Instruments and grain dealer Archer-Daniel Midlands are among…
SHANGHAI/BEIJING (Reuters) -China’s major state-owned banks were seen selling U.S. dollars to buy yuan in both onshore and offshore spot markets in early Asian trade on Tuesday, three people with direct knowledge of the matter said, moves aimed at supporting the Chinese currency. China’s state banks usually trade on behalf of the central bank in…
By Khanh Vu HANOI (Reuters) – Vietnam aims to raise its rare earths production to 2.02 million tonnes of unprocessed minerals a year by 2030, according to a government plan reviewed by Reuters, as the Southeast Asian country seeks to tap one of the world’s largest reserves of key industrial metals. The rare earths will…
JAKARTA (Reuters) – Indonesia is finalising a new set of incentives to attract investment from manufacturers of electric vehicles (EVs), a senior minister said on Tuesday, adding the government is still in talks with major companies like Tesla and BYD. Speaking at a nickel industry conference hosted by CNBC Indonesia, Coordinating Minister of Maritime Affairs…
