By Amruta Khandekar and Siddarth S (Reuters) -European shares rose on Tuesday supported by financials and luxury stocks as investors bet on further policy stimulus from China, while hawkish comments from European Central Bank President Christine Lagarde limited gains. The pan-European STOXX 600 index closed 0.1% higher, snapping its six-day losing streak. China’s Premier Li…
HAMBURG (Reuters) – Former Audi boss Rupert Stadler was handed a suspended sentence of one year and nine months by a German court on Tuesday for fraud over Volkswagen’s 2015 diesel scandal, becoming the first former board member to receive such a sentence. The fallout from the German auto group’s manipulation of diesel engine emissions…
By James Davey and Sarah Young LONDON (Reuters) -British supermarket executives rejected allegations they were profiteering through a cost of living crisis on Tuesday, telling lawmakers they had taken a hit to profit by not passing onto consumers the full force of pricing pressures they face. Food prices started rising well over a year ago,…
By Gabriel Araujo SAO PAULO (Reuters) -Annual inflation in Brazil slowed further in early June, hitting its lowest in nearly three years as the central bank signaled it may start cutting interest rates at its next meeting if consumer prices stay tame. In Latin America’s largest economy, 12-month inflation reached 3.4% in mid-June, data from…
(Reuters) – Shares of Xponential Fitness slumped nearly 34% on Tuesday after short-seller Fuzzy Panda Research alleged that the boutique gym chain has misled investors by “hiding” the losses of its brands and franchisees. Fuzzy Panda, in a report made public on Tuesday, revealed its short position on the company. It said more than half…
By Jacob Gronholt-Pedersen Copenhagen (Reuters) – The European Commission wants all planned regulations requiring fashion companies to produce clothes in a more sustainable way to be in place by 2028, the EU environment commissioner said on Tuesday. The Commission is looking to tackle textile consumption in Europe, which has the fourth highest impact on the…
By Abigail Summerville and Anirban Sen NEW YORK (Reuters) -The end of the COVID-19 pandemic has weighed not just on demand for Purell but also on efforts to sell the maker of the hand sanitizer. Gojo Industries Inc, which invented Purell in 1988, was hoping to be valued at more than $2 billion when it…
By Niket Nishant (Reuters) -Annuities provider American Equity Investment Life Holding said on Tuesday it has received a takeover offer from its biggest shareholder, valuing the long-sought merger candidate at nearly $4.3 billion. The offer from the reinsurance arm of Canadian investment firm Brookfield comes months after AEL rejected a nearly $4 billion bid from…
By Rajesh Kumar Singh and Shivansh Tiwary CHICAGO (Reuters) -Delta Air Lines on Tuesday lifted its second-quarter profit outlook and forecast full-year earnings at the high end of its prior guidance on sustained travel demand. Shares rose about 2% in morning trade as the company also revised upward estimates for free cash flow this year….
(Reuters) – The top U.S. consumer finance watchdog on Tuesday said it had fined the Nebraska payment processor ACI Worldwide $25 million for improperly processing more than $2 billion in mortgage payment transactions without customer authorization. The transactions occurred in April 2021 and affected nearly 500,000 homeowners with mortgages serviced by Mr. Cooper, exposing many…
