By Deborah Mary Sophia (Reuters) -Lululemon Athletica Inc said on Monday the Omicron coronavirus variant had dented its holiday-quarter performance, pushing the yoga-wear maker to cut staff and store hours during the busiest shopping period of the year, sending its shares down about 5%. Omicron has further hurt the retail sector that has been grappling…
By Lucia Mutikani WASHINGTON (Reuters) -U.S. wholesale inventories increased more than initially thought in November, suggesting that the restocking of warehouses likely contributed strongly to economic growth last quarter. The almost broad increase in inventories reported by the Commerce Department on Monday also offered more hope that supply bottlenecks were easing. It followed in the…
By Nivedita Balu and Tiyashi Datta (Reuters) -Take-Two Interactive said on Monday it would buy Zynga for $11.04 billion in a deal that will bring the smash-hit video game “Grand Theft Auto” and mobile-friendly “FarmVille” under one roof as demand for affordable on-the-go gaming surges. The deal, one of the biggest in the sector, will…
(Reuters) – U.S. Senator Elizabeth Warren sharpened her criticism of the Federal Reserve on Monday over its handling of an ethics scandal at the central bank ahead of the renomination hearing of Fed Chair Jerome Powell. Warren, a Democrat and member of the Senate Banking Committee, is one of the lawmakers Powell will appear before…
(Reuters) – Wall Street’s main indexes opened lower on Monday as heavyweight technology stocks dropped on expectations of a high interest rate environment, while big banks extended gains after U.S. Treasury yields climbed to new two-year highs. The Dow Jones Industrial Average fell 56.45 points, or 0.16%, at the open to 36,175.21. The S&P 500…
(Reuters) -Canadian cannabis producer Tilray Inc on Monday reported a surprise quarterly profit helped by savings achieved from its reverse-merger with Aphria and pledged more cost cuts, pushing its shares more than 12% higher in premarket trading. Tilray also pledged an additional $20 million in cost cuts over the $80 million originally planned from the…
(Reuters) -Take-Two Interactive is buying “Farmville” creator Zynga in an $11.04 billion deal, the “Grand Theft Auto” maker said on Monday, as it looks to tap into a surge in on-the-go gaming on smartphones. Take-Two, also known for “Red Dead Redemption”, offered $9.86 per share, representing a 64% premium to the last closing price of…
By Tom Sims and Alexander Hübner FRANKFURT (Reuters) – Marked by devastating hurricanes and cold snaps in the United States, 2021 proved the second-most costly year on record for the world’s insurers, Munich Re said on Monday, warning that extreme weather was more likely with climate change. Insured losses from natural catastrophes totalled around $120…
(Reuters) -Lululemon Athletica Inc said on Monday it expects the Omicron coronavirus variant to have dented holiday-quarter results as the yoga-wear maker cut down on staffing and store hours during the key shopping period, sending its shares down 7%. Omicron has further hurt the retail sector that has been grappling with shipping delays and product…
By Andrea Shalal WASHINGTON (Reuters) – Sixteen Democratic lawmakers are urging U.S. Treasury Secretary Janet Yellen to back a review aimed at ending the International Monetary Fund’s policy of charging countries significant surcharges on larger loans that are not repaid quickly. In a Jan. 10 letter to Yellen led by Representatives Jesus Garcia and Alexandria…
