WASHINGTON (Reuters) -U.S. existing home sales dropped to the lowest level in more than 12 years in January, but the pace of decline slowed, raising cautious optimism that the housing market slump could be close to reaching a bottom. The report from the National Association of Realtors on Tuesday also showed the smallest increase in…
SHANGHAI (Reuters) -Chinese fintech giant Ant Group said on Tuesday it had entered a strategic partnership with the NBA league in China that would see the two cooperate in areas such as video content, programme broadcasting and membership. Fans in China would have access to NBA video content on Alipay, the hugely popular payments app…
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) – Canada’s annual inflation rate eased more than expected to 5.9% in January, data showed on Tuesday, backing up the Bank of Canada’s declared aim to keep rates on hold at its next meeting to let previous rate hikes sink in. Analysts had expected inflation to edge…
Feb 21 (Reuters) – Canadian retail sales rose by 0.5% in December from November at C$62.12 billion ($46.19 billion), on higher sales at motor vehicles and parts dealers, as well as general merchandise stores, Statistics Canada said on Tuesday. Sales were seen to rise by 0.7% in January, the agency said in a flash estimate….
JOHANNESBURG (Reuters) – South Africa’s biggest food producer Tiger Brands said on Tuesday its four-month revenue to end January rose 17% year-on-year as it raised prices to manage soaring input costs. Consumer goods producers globally have lifted prices to cope with surging costs for almost all raw materials, energy and packaging after Russia’s invasion of…
(Reuters) -Home Depot Inc forecast annual profit below Wall Street expectations on Tuesday as demand for home improvement products dwindle due to soaring inflation, while it grapples with higher costs and a tighter labor market. The No. 1 U.S. home improvement chain posted a surprise drop in fourth-quarter comparable sales, sending its shares down more…
By Radhika Anilkumar (Reuters) -Holiday Inn owner IHG missed full-year revenue expectations as it was impacted by COVID-19 curbs in China, while a $750 million share buyback did little to cushion a drop in its share price on Tuesday. While the tourism industry is gradually recovering from the aftermath of the pandemic, hotel chains have…
By Radhika Anilkumar (Reuters) – Holiday Inn owner IHG missed full-year revenue expectations as it was impacted by COVID-19 curbs in China, while a $750 million share buy-back did little to cushion a drop in its share price on Tuesday. While the tourism industry is seeing a gradual recovery since the pandemic brought businesses to…
TOKYO (Reuters) – Japan kept its assessment of the economy unchanged in February as consumer spending remained on a recovery trend despite soft exports and factory output due to the global economic slowdown. The government also retained its caution over the impact of global monetary tightening, price hikes and supply constraint in its monthly report….
(Reuters) -Holiday Inn-owner IHG Plc reported higher full-year profit on Tuesday, helped by strong occupancy demand during the holidays and higher room prices, and said it would buyback shares worth an additional $750 million in 2023. Hotel operators have benefited as people are now spending more on travel and booking longer hotel stays after pandemic…
