By Dawn Chmielewski (Reuters) -Walt Disney Co will begin a second wave of layoffs on Monday involving thousands of jobs, as part of efforts to eliminate 7,000 positions and save $5.5 billion in costs, according to sources familiar with the matter. The company will cut “several thousand” jobs through Thursday, with the latest round of…
MILAN (Reuters) – Italian fashion house Valentino reported on Monday an 18% rise in core profit for 2022 as sales rose 10% at constant currencies, boosted by its directly operated shops and defying a weak Chinese market. Controlled by Qatari investment vehicle Mayhoola, Valentino reported preliminary revenue of 1.42 billion euros ($1.56 billion) last year….
BERLIN (Reuters) -Industrial action grounded dozens of flights at two major German airports on Monday as security workers and ground services employees in the capital, Berlin, and in Hamburg held a one-day strike over pay. Berlin-Brandenburg airport cancelled all departures and said some landings would also be affected after the Verdi union called security workers…
By Libby George LONDON (Reuters) -Brazil’s business and political leaders are pressing the case in Europe for investment in the Latin American oil producer as they seek to quell concerns over leftist President Luiz Inacio Lula da Silva’s high-priced spending wishlist. Rebounding commodity prices and a hawkish, independent central bank made Brazil an emerging market…
MEXICO CITY (Reuters) -Mexican inflation slowed in the first half of April and reached its lowest level in a year and a half, the national statistics agency said on Monday, fueling expectations the central bank may have completed a long cycle of interest rate hikes. Annual headline inflation through mid-April hit 6.24%, further declining from…
By Jamie McGeever ORLANDO, Florida (Reuters) -Hedge funds remain unconvinced by Wall Street’s recovery from the March banking shock and have instead amassed their biggest bet in over a decade that the S&P 500 will fall. Commodity Futures Trading Commission (CFTC) data for theweek ending Tuesday, April 18 show that funds and speculative accounts increased…
By Clyde Russell LAUNCESTON, Australia (Reuters) -The spot price of iron ore tumbled to a four-month low as Beijing once again talked down the key steel raw material, but as usual the question is whether the intervention will lead to sustained lower prices. The spot price for benchmark 62% iron ore for delivery to north…
By Ernest Scheyder SANTIAGO (Reuters) -Chilean President Gabriel Boric’s plan to nationalize his country’s immense lithium industry is putting the spotlight on an emerging crop of filtration technologies aimed at revolutionizing how the metal is produced for the electric vehicle industry. In a national prime time address, Boric said last Thursday a new state-owned company…
By Noele Illien ZURICH (Reuters) -Credit Suisse said on Monday that 61 billion Swiss francs ($68 billion) in assets left the bank in the first quarter and that outflows were continuing, underscoring the challenge faced by UBS Group in rescuing its rival. Customer deposits declined by 67 billion francs in the quarter and the bank noted…
By Maria Martinez BERLIN (Reuters) -German business morale rose slightly in April due to an improvement in companies’ expectations, adding to positive signs as Europe’s largest economy hopes to have dodged a winter recession, a survey showed on Monday. The Ifo institute said its business climate index stood at 93.6 following a revised reading of…
