By Dominique Vidalon PARIS (Reuters) -Carrefour, Europe’s largest food retailer, said on Tuesday it was confident of more profit and cash flow growth this year despite high inflation, after sales growth accelerated in the first quarter. Sales reached 22.071 billion euros ($24.24 billion), marking like-for-like growth of 12.3% and an acceleration from 10.9% sales growth…
By Helen Reid and Corina Pons BARCELONA (Reuters) -Europe’s cost of living crisis has benefited discount retailers but mid-market names are being squeezed as shoppers watch their spending, executives and analysts at an industry conference said on Tuesday. Luxury is also continuing to perform well, with hopes that China’s reopening will give fresh impetus as…
By Silvia Aloisi PARIS (Reuters) – Sales at French luxury group Kering rose by just 1% in the first quarter, as star label Gucci benefited less than rivals from a rebound in China and revenues fell sharply in the United States. Kering’s sales came in at 5.08 billion euros ($5.58 billion)for the three months to…
(Reuters) – Troubled lender First Republic Bank is exploring an asset sale of up to $100 billion, Bloomberg News reported on Tuesday, citing people familiar with the matter. A sales would help reduce the bank’s asset-liability mismatch, the report said. FRC did not immediately respond to Reuters request for comment. The news of the sale…
TOKYO (Reuters) – U.S. Trade Representative Katherine Tai said on Tuesday the Biden administration’s signature Asian engagement project called the IPEF is designed to create no conflict with other trade agreements in the region, where China is expanding its clout. The Indo-Pacific Economic Framework (IPEF), which U.S. President Joe Biden launched last May, is aimed…
By James Davey LONDON (Reuters) – In April 2020, budget fashion chain Primark was on its knees, unable to sell hundreds of millions of pounds of stock with its entire store network shut in COVID-19 lockdowns and no online capability. Fast forward three years and the retailer, unlike several former competitors, is starting to thrive…
By Jonathan Stempel NEW YORK (Reuters) -Here is a timeline of former Elle magazine advice columnist E. Jean Carroll’s civil lawsuit accusing former U.S. President Donald Trump of rape and defamation, which goes to trial on Tuesday. June 2019 – Carroll publishes an excerpt from her memoir, “What Do We Need Men For? A Modest…
By Priyamvada C (Reuters) – U.S. hotel operators are expected to post a rise in first-quarter profit even as they pour in money to lure travelers to make bookings directly through their websites, instead of turning to travel agencies. While bookings have been getting a boost from increased business and leisure travel, the investments hotels…
LONDON (Reuters) -Bank of England (BoE) Deputy Governor Ben Broadbent said on Tuesday that central banks should not ignore measures of money supply, but claims that their huge bond-buying programmes stoked the global surge in inflation are not backed up by evidence. Some politicians and analysts have blamed the waves of central bank money created…
(Reuters) – United Parcel Service Inc said on Tuesday it was confident of reaching an agreement over a new contract with the International Brotherhood of Teamsters union by the end of July. “We are aligned on several key issues like solving the staffing needs for weekend delivery and ways to mitigate the summer heat in…
