(Reuters) – Walmart Inc plans to close three of its U.S. technology hubs and has asked hundreds of workers to relocate to keep their jobs, the Wall Street Journal reported on Monday citing an internal memo. The big-box retailer will close offices that house technology staff in Austin, Texas; Carlsbad, California; and Portland, Oregon, the…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Bath & Body Works named a veteran consumer products executive as a new director on Monday as the specialty retailer faces pressure from hedge fund Third Point LLC to cut costs and refresh its board. Lucy Brady, a senior executive at Conagra Brands, expands the board to 11 from…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Japanese GDP and Indian wholesale inflation provide investors in Asia with a couple of appetizers on Tuesday, before markets feast on the main course later in the day – U.S. inflation. Japan’s economy is expected to have grown…
By Michael S. Derby NEW YORK (Reuters) – NEW YORK, Feb 13 (Reuters) – Americans in January continued to expect high near-term inflation pressures and more modest ones on a longer-term basis, as they trimmed their expectations for future income gains, the New York Federal Reserve said on Monday. Respondents to the regional Fed bank’s…
By Rajesh Kumar Singh CHICAGO (Reuters) -Southwest Airlines Co is working on a series of updates and upgrades to its technology to avoid a repeat of the operational disruption the airline suffered in late December, a top executive said on Monday. Chief Information Officer Lauren Woods told Reuters that the carrier is working on improvements…
By Joseph White and David Shepardson ROMULUS, Michigan/WASHINGTON (Reuters) – Ford Motor Co on Monday announced plans to invest $3.5 billion to build an electric vehicle battery plant in Michigan, betting that making the batteries in the United States will help and Chinese partner CATL attract U.S. customers to embrace a lower-cost technology pioneered in…
BRUSSELS (Reuters) – EU antitrust regulators on Monday opened an in-depth investigation into U.S. company Viasat’s bid for British satellite rival Inmarsat on concerns the $7.3 billion deal may reduce competition in the aviation connectivity market. “At this stage, the (European) Commission is therefore concerned that by acquiring Inmarsat, Viasat may reduce competition in the…
By Blake Brittain (Reuters) – Alcon Vision LLC will pay Johnson & Johnson’s J&J Surgical Vision Inc $199 million to settle legal battles over intellectual property related to the companies’ laser eye-surgery devices, Alcon said in a press release on Sunday. Alcon said the one-time payment would resolve “various worldwide intellectual property disputes” and that…
By Alun John and Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) – The dollar rose to a one-week high against the rate-sensitive Japanese yen in choppy trading on Monday, on market expectations that the Federal Reserve will keep monetary policy tight for longer, sending U.S. Treasury yields at the short end of the curve higher. Those expectations…
(Reuters) -Cloud communications company Twilio Inc said on Monday it was eliminating about 17% roles and closing some offices as part of a restructuring effort to focus on profitability. The move, which is the second instance of job cuts in six months, sent the company’s share up 2%. As part of the restructuring, Twilio will…
