(Reuters) -Amazon.com Inc said it would counter any disruptions due to the lockdowns in Chinese cities by diverting freight to warehouses in unaffected regions, as companies rush to comply with the country’s controls to curb the spread of COVID-19. The e-commerce giant said it had purchased more local inventory during the early outbreak of the…
By Victoria Waldersee and Christina Amann BERLIN (Reuters) -BMW cut its car division’s 2022 profit margin forecast on Wednesday and said it expected the chip crisis to drag on throughout the year, the latest automaker to warn of supply chain disruptions exacerbated by Russia’s invasion of Ukraine. The German carmaker, which sold a record 2.52…
By Devik Jain and Bansari Mayur Kamdar (Reuters) -Wall Street’s main indexes jumped on Wednesday, propelled by technology and financial stocks, as signs of progress in Ukraine-Russia peace talks lifted sentiment ahead of a widely expected interest rate hike by the Federal Reserve. New talk of compromise from both Moscow and Kyiv on a status…
By Hilary Russ NEW YORK (Reuters) -Starbucks’ longtime former Chief Executive Officer Howard Schultz will return temporarily after Kevin Johnson said on Wednesday that he will retire from the role on April 4, as a unionization drive at U.S. cafes heats up. Shares of the coffee chain surged 7% on the news. Schultz is practically…
By Lucien Libert LYON, France (Reuters) – When French company boss Laurent de la Clergerie decided to let his staff work a four-day week, on the same pay as before, he knew he risked hurting his bottom line. “Some people took me for a crazy person,” he recalled. But a year on, he says the…
By Jamie Freed, Allison Lampert and Tim Hepher (Reuters) – Russian airlines have weeks to orchestrate alternative supplies of banned aircraft parts or start grounding jets to avoid safety concerns as Western sanctions following Russian’s invasion of Ukraine threaten their post-Soviet revival. Moscow took a first step this week towards keeping its commercial fleet flying…
(Reuters) -Walmart Inc said on Wednesday it plans to hire more than 50,000 workers in the United States in its first quarter as the U.S. retailer giant expands its business in the country. The new hires will fill roles at its stores, clubs, campuses and supply chain facilities, with Walmart also hiring thousands of workers…
By Hilary Russ NEW YORK (Reuters) – Starbucks Chief Executive Officer Kevin Johnson will retire on April 4, the company said on Wednesday, and the coffee chain’s founder Howard Schultz will serve as interim CEO. Johnson had signaled to the board of directors a year ago that he might retire when the COVID-19 pandemic waned,…
By Simon Jessop LONDON (Reuters) – The majority of Britain’s top companies now have at least one ethnic minority board member, the government-backed Parker Review committee, set up to improve the diversity of UK boards, said on Wednesday. Improving boardroom diversity has become a hot topic for policymakers and investors in recent years, as many…
(Reuters) – Drugmaker Merck and Co said on Wednesday it would supply life-saving medicines and vaccines to Russia, but not make further investments in the country. The company does not have any research or production facilities in Russia, a company’s spokesperson said. (Reporting by Bhanvi Satija in Bengaluru; Editing by Anil D’Silva)
