(This July 21 story has been corrected to change references to Australian port from foreign port, in the headline and paragraph 1) SYDNEY (Reuters) – The United States commissioned a warship in Sydney on Saturday, the first time a U.S. Navy vessel joined active service at an Australian port, as the two close allies step…
COLOMBO (Reuters) – Sri Lanka plans to complete free trade talks with Thailand by February and sign an agreement in March, Sri Lanka’s cabinet spokesperson said on Tuesday, as part of an effort to expand trade as it emerges from economic turmoil. The island nation secured a nearly $3 billion International Monetary Fund bailout in…
PARIS (Reuters) -French spirits group Remy Cointreau on Tuesday reported a fall in first-quarter organic sales, reflecting weaker U.S. demand, high year-ago comparables and destocking, and said it was banking on a sharp rebound in sales in the U.S. from the third quarter. The maker of Remy Martin cognac and Cointreau also stuck to a…
By Navya Mittal and Rishav Chatterjee (Reuters) -Australian diversified miner South32 on Monday said it will take an about $1.3 billion one-off charge in fiscal 2023 against its Hermosa project in Arizona, even as the company restored output at most of its operations in the fourth quarter. Mining at South32’s Taylor sulphide deposit in Hermosa…
By Helen Reid and Linda Pasquini LONDON (Reuters) – The trend for low-rise rubber-soled “terrace” sneakers could give Adidas and Puma an advantage over Nike this summer, but may not offset weakening U.S. and Chinese demand. German sportswear giants Adidas and Puma have trawled their archives to re-release old styles in new colours, driving renewed…
By Ruma Paul DHAKA (Reuters) -S&P Global Ratings on Tuesday lowered Bangladesh’s long-term rating outlook to negative from stable, citing risks the country’s external liquidity position could deteriorate in the next year while foreign exchange reserves remain under pressure. The ratings agency expects the economy to expand between 6% to 6.4% annually between 2024 and…
By Savyata Mishra (Reuters) -The fanfare around Margot Robbie-starrer “Barbie” could jolt the iconic Mattel doll’s sales out of a year-long slump, but Wall Street thinks the party in pink will be short-lived. While Mattel will report second-quarter results on Wednesday, days after the theatrical release of the movie, analysts say the boost for Barbie…
By Eric Beech and Kanishka Singh WASHINGTON (Reuters) -The U.S. Justice Department on Monday sued Texas over floating barriers installed by the state in the Rio Grande river to block migrants crossing from Mexico. Texas authorities began installing the string of buoys in the middle of the river near Eagle Pass, Texas, last week, part…
By Medha Singh and Lisa Pauline Mattackal XRP has become the unlikely white knight of crypto, thwarting its regulatory foes and dragging the market out of the doldrums. The price of XRP popped 78% after a U.S. judge ruled on July 13 that issuer Ripple Labs’ sales of the token on public exchanges didn’t violate…
(Reuters) – Australian retail conglomerate Wesfarmers said on Tuesday it will merge the business units of its budget department store Kmart and discount retailer Target as the group attempts to reduce losses amid persistently high inflation. The operations of the two flagship brands would be combined into one entity as market conditions worsen while customers…
