By Granth Vanaik (Reuters) – Carnival is expected to post robust second-quarter revenue growth as new and younger customers, undeterred by high inflation, spend on novel experiences such as cruising. While Americans have cut back on purchasing big-ticket non-essential goods due to soaring costs, protracted confinement to their homes during the pandemic has whet their…
By Libby George LONDON (Reuters) -Foreign investors hoping for a game-changing rate hike from Turkey’s newly appointed central bank chief said Thursday’s disappointing move to a key rate of just 15% could keep some money on the sidelines. The appointment of U.S.-trained banker Hafize Gaye Erkan to lead the bank boosted expectations that it would…
By Gibran Naiyyar Peshimam KHUIRATTA, Pakistan-administered Kashmir (Reuters) – Hameed Iqbal Bhatti had prospered over two decades working in Saudi Arabia, but after returning to Pakistan three years ago, he was getting desperate. The economy had suffered in the pandemic and his restaurant business closed. With work avenues drying up and sky-high inflation blowing a…
By Lewis Jackson and Scott Murdoch SYDNEY (Reuters) -PricewaterhouseCoopers Australia is looking to sell its government, education and healthcare practice to private equity firm Allegro Funds, according to a person familiar with the matter, as the firm battles the fall out from a major scandal. The scandal, which first broke in January, centres around a…
COPENHAGEN (Reuters) -Danish brewer Carlsberg said on Friday it had signed an agreement to sell its Russian business but did not name the buyer or the agreed price for the transaction, which is subject to an extensive regulatory review by Moscow. Carlsberg, the Western brewer most exposed to Russia, said last year it expected a…
By Jonathan Stempel (Reuters) – Home Depot has agreed to pay $72.5 million to end a long-running class-action lawsuit alleging the largest U.S. home improvement retailer underpaid workers in California. The preliminary settlement was filed late Thursday in a San Francisco federal court, and requires a judge’s approval. Half of the settlement, after taking out…
By Richa Naidu and Sybille de La Hamaide LONDON/PARIS (Reuters) -Danone and Kellogg are among 75 consumer goods companies that French authorities have asked to cut prices, according to a list seen by Reuters that sources say the government is using for the initiative. Finance Minister Bruno Le Maire said on June 9 he had…
By Kylie MacLellan, Lawrence White and Muvija M LONDON (Reuters) -British banks agreed on Friday to give homeowners who miss mortgage payments a year of grace before foreclosing and to protect credit scores of borrowers who change loan terms, as the government sought to ease the strain of rising interest rates. Finance minister Jeremy Hunt…
(Reuters) – Southwest Airlines said on Friday it had reached a tentative agreement with the union representing the company’s mechanics and related employees. The Aircraft Mechanics Fraternal Association (AMFA), which represents more than 2800 Southwest employees, said the agreement, if ratified by members, will elevate salaries of aircraft maintenance technicians to “industry-leading” standards. Employees and unions…
By Dan Burns (Reuters) – U.S. business activity fell to a three-month low in June as services growth eased for the first time this year and the contraction in the manufacturing sector deepened, closely watched survey data out Friday showed. The overall picture, though, indicated U.S. economic growth ticked up a notch in the second…
