By Vansh Agarwal (Reuters) -Shares of Chewy Inc surged 27% in early trading on Thursday after the pet products e-retailer announced its first foray into international markets via Canada and raised its annual revenue forecast. Chewy, co-founded by activist investor Ryan Cohen, was one of the major gainers in the sector after the pandemic sparked…
By Fergal Smith TORONTO (Reuters) – Canadian manufacturing activity slowed in May as high inflation and inventory cutting held back customer demand, but in a silver lining the reduction in activity contributed to an easing of supply pressures, data showed on Thursday. The S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) fell to a seasonally…
By Fergal Smith and Steve Scherer TORONTO (Reuters) – Canada’s residential construction activity has slowed in recent months due to a tight labor market and higher borrowing costs, a factor that could thwart government plans to reduce a housing shortfall and add to the recovery in home prices. That would be bad news for the…
By Dominique Vidalon PARIS (Reuters) – French spirits group Remy Cointreau beat forecasts with record annual operating profits on Thursday, and reiterated its pledge to overcome a tough start to its new financial year, particularly in the United States. Chief Executive Eric Vallat told analysts he was confident about a second-half rebound as the company…
By David Kirton SHENZHEN, China (Reuters) – For the ambitious Chinese tech entrepreneur, expanding into the U.S. just keeps getting harder. Before 2019, there were few major impediments to having a Chinese company that did business in the U.S. from China. But amid escalating U.S.-Sino trade tensions, particularly after Washington slapped sanctions on telecom giant…
(Updates prices throughout story, adds analyst comment in paragraphs 7 and 8, recasts lede and paragraphs 2, 3 and 4 to reflect comments from Fed governor) By Hannah Lang WASHINGTON (Reuters) – The U.S. dollar retreated from a more than two-month high on Wednesday after a Federal Reserve official warned any decision by the central…
By Mehnaz Yasmin (Reuters) -Franklin Resources Inc, a global investment management firm that operates as Franklin Templeton, plans to acquire asset manager Putnam Investments from Great-West LifeCo Inc in a nearly $925 million deal. The deal, expected to close in the fourth quarter of this year, is part of a partnership with Power Corporation of…
(Reuters) – National Bank of Canada missed analysts’ earnings estimates on Wednesday, hurt by higher costs and money set aside for bad loans amid a meltdown in the U.S. banking sector and souring economy. Shares of the Montreal-based bank were down more than 1% in morning trading, tracking broader market declines. The results come after…
By Daniel Trotta and Steve Gorman LOS ANGELES (Reuters) – A California appeals court overruled Governor Gavin Newsom on Tuesday to find Leslie Van Houten, one of Charles Manson’s murderous “family” of followers, entitled to parole after more than 50 years in prison for her part in the cult’s 1969 killing spree. Van Houten, 73,…
By Allison Lampert and Clark Mindock (Reuters) – Delta Air Lines is facing a proposed class action lawsuit over advertising touting the U.S. carrier as carbon-neutral, according to a complaint filed on Tuesday in California federal court. The complaint, filed on behalf of a California resident who bought Delta tickets to engage in “more ecologically…
