By Mike Scarcella (Reuters) – Amazon.com Inc on Thursday defeated a private lawsuit in Seattle federal court that accused the national retailer of a scheme to curb competition for shipping and fulfillment services, causing consumers to pay more for purchases in violation of U.S. antitrust law. U.S. District Judge Ricardo Martinez in his ruling said…
By Jessica DiNapoli and Ananya Mariam Rajesh (Reuters) -Procter & Gamble Co’s customers, particularly in the United States, continued to show little resistance to repeated price hikes helping the Tide detergent maker boost its sales forecast and third-quarter margins. The maker of Pampers diapers, Pantene shampoo and Oral-B toothpaste raised average prices across its categories…
By Kirstin Ridley, Jahnavi Nidumolu and John Revill LONDON (Reuters) -Investors representing more than 4.5 billion Swiss francs ($5 billion) of Credit Suisse bonds have sued the Swiss regulator after their investments were wiped out during last month’s government-orchestrated rescue. Law firm Quinn Emanuel Urquhart & Sullivan, which is representing the bondholders, said on Friday…
By Caroline Valetkevitch NEW YORK (Reuters) – Investors worried the U.S. could be on the brink of a recession may be relieved by some early comments from company executives this earnings season suggesting demand remains strong and any potential downturn will likely be mild. American Express Co’s chief financial officer was among the latest to…
By Svea Herbst-Bayliss BOSTON (Reuters) – Hedge funds pulled in $9.1 billion in new money during the first three months of 2023, data showed on Friday, after last year’s hefty outflows as pension funds and other investors navigated a banking crisis and faced fresh fears of an economic downturn. It was the first quarterly inflow…
By Aditya Samal and Leroy Leo (Reuters) -HCA Healthcare Inc said it expects a recovery in surgical procedures to persist through the year for the hospital operator as staffing almost reaches pre-pandemic levels and allows it to widen bed and surgical capacity. The industry bellwether on Friday reported better-than-expected results and raised its forecasts for…
By Valerie Insinna and Brenda Goh WASHINGTON/SHANGHAI (Reuters) -China’s aviation regulator has published a report that Boeing views as a key step for the U.S. planemaker to resume deliveries of its 737 MAX to Chinese airlines more than four years after they were halted following two deadly crashes. Boeing has more than 130 completed MAX…
JOHANNESBURG (Reuters) – Labour unions rejected a 3.75% pay rise offer from South Africa’s power utility Eskom as it is below the rate of inflation, union representatives said on Friday. Unions are demanding a 15% increase in wages at Eskom, which is implementing rolling blackouts of about 10 hours a day as it struggles to…
OTTAWA (Reuters) -Canadian retail sales dipped by 0.2% in February from January, and are expected to drop another 1.4% in March, according to data from Statistics Canada on Friday, indicating high interest rates may be starting to dent consumer spending. February’s decline, smaller than analysts’ forecast of a 0.6% fall, was led by lower sales…
(Reuters) – Alphabet Inc’s Google said on Friday it will update Bard, its generative artificial intelligence (AI) chatbot, to help people write code to develop software, as the tech giant plays catch-up in a fast-moving race on AI technology. Last month, the company started the public release of Bard to gain ground on Microsoft Corp. The…
