LONDON (Reuters) – The largest owner of IKEA stores has acquired supply chain software firm Made4Net as the Swedish furniture retailer plans a major expansion in the United States and aims to grow its online sales. Ingka Group’s investment arm Ingka Investments bought the company for an undisclosed sum, the company said, in order to…
By Alexander Marrow and Elena Fabrichnaya (Reuters) – Russia will hold its key lending rate at 7.5% next week, a Reuters poll showed on Thursday, with persistent inflation risks seen preventing the central bank from easing the cost of borrowing and limiting Russia’s growth this year to 0.7%. Last year, the Bank of Russia gradually…
By Medha Singh (Reuters) -Shares of C3.ai Inc dropped nearly 20% in early trade on Thursday after the AI software maker’s quarterly revenue forecast missed estimates, dampening some of Wall Street’s recent euphoria around small cap AI-linked stocks. Most other small-cap artificial intelligence (AI) related stocks also fell, with analytics firm BigBear.ai, conversation intelligence firm…
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 Samrhitha A (Reuters) – Salesforce Inc fell about 7% on Thursday after reporting quarterly revenue that increased at its slowest pace since 2010, with companies cutting back spending on cloud-based software offerings. The enterprise software maker was set to shed nearly $14 billion in market value, based on its share price of $208.40. The…
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…
(Reuters) – Ukrainian President Volodymyr Zelenskiy said on Thursday Kyiv wanted to receive a “clear” decision on its future in the NATO military alliance when the bloc’s leaders meet in Vilnius in July. At a summit of over 40 European leaders in Moldova, he also said he wanted progress on Ukraine’s path to the European…
By Nupur Anand NEW YORK (Reuters) – JPMorgan Chase & Co will shut 21 branches of First Republic Bank by the end of the year as it integrates the failed lender into its operations, a JPMorgan spokesperson said on Thursday. The locations account for about a quarter of First Republic’s 84 branches across eight states….
ISLAMABAD (Reuters) – Pakistan’s annual inflation rate rose to 37.97% in May, the statistics bureau said on Thursday, setting a national record for the second month in a row, adding to its problems of a balance of payment crisis and the risk of a sovereign default. Already in April, the bureau said Pakistan’s CPI at…
By Noele Illien and Stefania Spezzati ZURICH (Reuters) -Credit Suisse has repaid the liquidity backed by the Swiss government, Finance Minister Karin Keller-Sutter said in an interview with Swiss broadcaster SRF aired late on Wednesday. The bank so far has not disclosed how much it had borrowed under the so-called public facility backstop (PLB) –…
