By Tetsushi Kajimoto TOKYO (Reuters) – Growth in Japan’s merchandise exports slowed sharply in January amid weakening Chinese demand for cars and chipmaking machinery, stoking concern about a global slowdown and creating the country’s largest trade deficit on record. Trade figures issued on Thursday followed weaker-than-expected gross domestic product data, underscoring the challenge for the…
By Johann M Cherian and Noel Randewich (Reuters) – The S&P 500 ended higher on Wednesday after stronger-than-expected retail sales data offered evidence of resilience in the U.S. economy, but gains were capped as investors worried about more interest rate hikes by Federal Reserve in the months ahead. A Commerce Department report showed retail sales…
By Nivedita Balu (Reuters) -Shopify Inc on Wednesday forecast slowing revenue growth for the current quarter despite price hikes and new product launches, signaling that macroeconomic challenges were weighing on its merchants’ online businesses. U.S-listed shares of Shopify, which started 2022 as the most valuable Canadian company before losing three-quarters of its value, fell about…
By Kylie Madry MEXICO CITY (Reuters) – Mexican airline Aeromar announced the “definitive end” of operations on Wednesday, as the heavily indebted company failed to reach agreements with providers and a rumored potential investor. The struggling company is the latest in a string of Mexican airlines hit with major financial woes in recent years, following…
WASHINGTON (Reuters) -U.S. House Judiciary Committee Chairman Jim Jordan on Wednesday subpoenaed the chief executives of Alphabet, Amazon, Apple, Facebook and Instagram parent Meta Platforms, and Microsoft for documents and communications relating to free-speech issues. Jordan and other conservatives accused the companies of suppressing conservative speech during the Trump administration, and expanded that accusation to…
WASHINGTON (Reuters) – Chrysler-parent Stellantis is recalling 340,000 diesel Ram pickup trucks to replace an electrical connector after reports of six fires, and recommends parking the vehicles outside until repairs are made. The company’s U.S. unit FCA US discovered that a part on some trucks may overheat and in rare instances may pose a fire…
WASHINGTON (Reuters) – World Bank President David Malpass will step down on June 1 after more than four years at the helm of the multilateral development bank, the bank said on Wednesday. It was not immediately clear why Malpass, who was appointed by then-President Donald Trump, was departing before the end of his five-year term….
(Reuters) – Airbus said on Wednesday it appointed Thomas Toepfer as its new chief financial officer. He will join the group on Sept. 1, it said in a statement. The world’s largest planemaker said current CFO Dominik Asam will leave on March 3, and be replaced by Xavier Tardy – Executive Vice-President Finance for Airbus…
By Ilona Wissenbach and Hakan Ersen FRANKFURT (Reuters) -An IT failure at Lufthansa stranded thousands of passengers and forced flights to Germany’s busiest airport to be cancelled or diverted on Wednesday, with the airline blaming botched railway engineering works that damaged broadband cables. More than 200 flights were cancelled in Frankfurt, a vital international transit…
(Reuters) – Boeing Co’s finance chief said on Wednesday at a Cowen conference that the planemaker was still facing parts shortages as the supply chain was not stable and predictable. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Shinjini Ganguli)
