(Reuters) – Amazon.com Inc’s investor-led proposal to review its use of plastic won 49% support even as shareholders voted down all the 15 resolutions at the e-commerce giant’s annual general meeting, a regulatory filing showed on Friday. It was the only proposal that came close to reaching the 51% mark for approval. Investors opposed resolutions…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales fell more than expected in March as consumers cut back on purchases of motor vehicles and other big-ticket items, suggesting that the economy was losing steam at the end of the first quarter because of higher interest rates. With the labor market cooling, retail sales are…
NEW YORK (Reuters) – The Federal Reserve will likely need to raise interest rates more than expected in response to recent strong data and is prepared to move in larger steps if the “totality” of incoming information suggests tougher measures are needed to control inflation, Fed Chair Jerome Powell told U.S. lawmakers on Tuesday. “The…
NEW YORK (AP) — Stocks tumbled on Wall Street Friday, leaving the S&P 500 with its biggest one-day loss in almost seven weeks, as worries deepen about a surge in interest rates and the U.S. central bank’s efforts to fight inflation. Several disappointing profit reports from companies also shook what’s been the market’s main pillar…
SHANGHAI (Reuters) – Chinese smartphone maker Xiaomi Corp on Wednesday reported quarterly revenue of 70.17 billion yuan, a 9.7% fall year-on-year and a touch below analyst expectations. Net income reached 2.12 billion yuan, down 59.1% year-on-year and slightly above analyst expectations. (Reporting by Josh Horwitz, Editing by Louise Heavens)
By David Gauthier-Villars and Aram Roston (Reuters) – U.S. technology company Extreme Networks Inc said last year it had suspended all business activities in Russia to show solidarity with the people of Ukraine “living under attack.” But Reuters has found that, as the publicly-traded U.S. firm was unwinding its Russia operations, its most senior manager…
MEXICO CITY (Reuters) -Walmart’s Mexico unit on Wednesday said its fourth-quarter net profit grew more than 5% from the year-earlier period with the gross margin helped by new business lines, even as higher expenses ate into earnings. Walmart de Mexico, the biggest retailer in Mexico, said its net profit rose to 13.3 billion pesos ($646.3…
By Sabrina Valle HOUSTON (Reuters) – Chevron Corp. Chief Executive Michael Wirth on Tuesday said a consolidation between the five top Western oil producers remains a possibility but would face regulatory hurdles. Soaring stock prices and cash levels at oil-focused U.S. energy majors has driven Wall Street talk of potential deals for European oil producers….
BERLIN (AP) — Hans-Christian Stroebele, a German lawyer who defended members of the far-left Red Army Faction and later became the Green party’s first directly elected constituency lawmaker, has died. He was 83. German news agency dpa quoted his attorney, Johannes Eisenberg, saying Wednesday that Stroebele died on Aug. 29 after a long illness. Stroebele,…
By Kevin Yao and Ellen Zhang BEIJING (Reuters) -A broad array of Chinese data on Tuesday highlighted intensifying pressure on the economy from multiple fronts, prompting Beijing to cut key policy rates to shore up activity but analysts say more support is needed to revitalise growth. Just before the release of a batch of July…
