By Mimosa Spencer PARIS (Reuters) -Sales at the world’s top luxury group LVMH rose by 17% in the second quarter, with a sharp rebound in China helping to offset a decline in the United States, where inflation and economic turbulence have dented demand for high-end goods. The French company, whose 75 brands include fashion labels…
By Laura Gottesdiener and Daina Beth Solomon MEXICO CITY (Reuters) – Deep in the Panamanian jungle, Venezuelan migrant Franca Ramirez was scrambling to reach higher ground as a rushing river broke its banks, he said, when something caught his eye: a group of young men, snapping photos of the landscape. The former police officer, who…
LONDON (Reuters) – Global crude steel production fell 1.1% year on year to 943.9 million metric tons in the first half of 2023 due to lower output in Europe and the Americas, World Steel Association data showed on Tuesday. Output in China, the world’s top producer and consumer of the metal, rose 1.3% to 535.6…
By Ari Rabinovitch JERUSALEM (Reuters) -Israel’s parliament on Monday ratified the first bill of a judicial overhaul sought by Prime Minister Benjamin Netanyahu, after last-gasp compromise efforts collapsed and failed to ease a constitutional crisis convulsing the country for months. The amendment limiting the Supreme Court’s powers to void some government decisions if it deemed…
By Josephine Walker WASHINGTON (Reuters) – A group of 112 Democratic members of Congress on Monday called on U.S. President Joe Biden’s administration to establish heat safety regulations for indoor and outdoor workplaces as a persistent and deadly heatwave spreads across the country. The group asked the Occupational Safety and Health Administration to issue new…
(Reuters) -Amazon.com has slashed the price it will pay for iRobot by about 15% to around $1.42 billion after the maker of Roomba vacuum cleaners incurred fresh debt, the companies said on Tuesday. Under the amended deal, Amazon will pay $51.75 in cash for each share of iRobot, compared with the original price of $61.00….
By Timothy Aeppel (Reuters) – The U.S. economy may ultimately skirt a recession, but it’s felt like one for months at Jon Ferrando’s 103 RV dealerships. Retail sales of recreational vehicles are on track to be the lowest since 2015, said Ferrando, CEO and president of Fort Lauderdale, Florida-based Blue Compass RV, which operates in…
By Gary McWilliams HOUSTON (Reuters) – U.S. oil and gas deals rebounded in the second quarter as private equity firms shed shale portfolio investments and publicly traded oil firms grabbed smaller rivals. U.S. oil exploration and production deals last quarter soared to $24 billion – nearly three times that of the first quarter, energy analytics…
By David Milliken LONDON (Reuters) – The Bank of England forecast on Tuesday that it would make a net loss of just over 150 billion pounds ($193 billion) over the next 10 years as it unwinds its quantitative easing (QE) gilt purchases, up from 100 billion pounds projected in April. That loss will need to…
(Reuters) -Goodyear Tire & Rubber Co said it would add three directors in agreement with Elliott Investment Management, months after the activist investor disclosed a stake and called for changes to strengthen the company’s financial position. Elliott’s investment announced in May made it one of Goodyear’s biggest investors. The firm urged the company to refresh…
