Under Armour warns of margin hit as excess stock spurs discounts
By Uday Sampath Kumar (Reuters) -Under Armour Inc’s margins are set to face a squeeze as the sportswear maker increases discounts to shore up waning demand and clear a build-up…
By Uday Sampath Kumar (Reuters) -Under Armour Inc’s margins are set to face a squeeze as the sportswear maker increases discounts to shore up waning demand and clear a build-up…
MOSCOW -As the world’s biggest soft drinks makers cut their Russian ties, local producer Chernogolovka is aiming for a 50% share of the country’s near $9 billion market, its boss…
(Reuters) -The New York Times Co forecast a drop in advertising revenue for the third quarter on Wednesday, as brands cut back on ad spending in the face of a…
By Carolyn Cohn LONDON -Hiscox is committed to a planned insurance consortium providing cover for ships travelling through a safe passage from Ukraine, its chief executive said on Wednesday, as…
By Anshuman Daga SINGAPORE -Singapore’s second-largest lender Oversea-Chinese Banking Corp Ltd (OCBC) reported a stronger-than-expected 28% jump in quarterly profit and gave a robust outlook as rising interest rates pushed…
LIMA -Peruvian Prime Minister Anibal Torres suddenly resigned on Wednesday morning, amid widening criminal probes centered on President Pedro Castillo, who has grown increasingly isolated after one year in office.…
(Reuters) – The U.S. Federal Reserve will be steadfast in raising interest rates to bring inflation running at four-decade highs back to the central bank’s 2% target, St. Louis Fed…
By Philip Pullella VATICAN CITY -Pope Francis said on Wednesday he felt the pain of survivors of Canada’s residential school system “like slaps” and that the Catholic Church has to…
By Ashitha Shivaprasad and Peter Hobson (Reuters) – Gold will average $1,745 an ounce in 2023, slightly below current prices, as high interest rates and a strong dollar reduce its…
By Jacob Gronholt-Pedersen COPENHAGEN -Shipping group Maersk expects global container demand to fall this year as sales of durable goods come to a “standstill”, leaving flat-screen TVs and furniture piling…
By Sam Nussey TOKYO -Japan’s Nintendo Co Ltd sold 23% fewer Switch consoles in the April-June quarter than a year earlier following chip shortages, it said on Wednesday. The Kyoto-based…
By Jan Strupczewski BRUSSELS -Euro zone retail sales plunged in June and factory gate prices continued to rise, data showed on Wednesday, adding to fears the 19-country single currency zone…
BEIRUT – Lebanon on Thursday marks the second anniversary of the Beirut port explosion which killed at least 215 people, wounded thousands and damaged swathes of the capital. Despite the…
BERLIN – Siemens’ new supervisory board is committed to doing away with the portfolio policy of the past, said influential employee representatives on the board, who added that they were…
By Markus Wacket BERLIN – The German government will have to amend its energy security law again in September as its gas levy cannot yet be imposed on all consumers,…
By Nyasha Chingono HARARE – Shepherd Chowe pushes a cart filled with tins, iron rods and other metallic objects down a dusty pathway in Hopley, a poor settlement about 15…
By Victoria Waldersee BERLIN -BMW lowered its output forecast and warned of a highly volatile second half on Wednesday, pinpointing supplies of energy in Europe and chips worldwide as the…
By Mike Dolan LONDON -The post-pandemic inflation surge clearly persisted too long for central banks to ignore – but investors sceptical of some multi-year regime change or paradigm shift still…
(Reuters) -NortonLifeLock’s $8.6 billion purchase of rival Avast won provisional clearance from Britain on Wednesday, overcoming the final hurdle to creating a consumer security software giant and sending Avast shares…
(Reuters) – Pat Cipollone, a White House counsel to former President Donald Trump, has been subpoenaed by a federal grand jury investigating the Jan. 6, 2021, riot at the U.S.…
BERLIN -The value of German exports jumped by 4.5% in June to hit a record level, though economists cautioned that much of the increase was likely due to soaring prices.…
By Julien Ponthus PARIS -A buoyant second quarter and new three-year targets helped to boost Societe Generale’s shares on Wednesday, as the French bank weathered a 3.3-billion-euro ($3.4 billion) hit…
ISTANBUL – Turkish inflation rose to a fresh 24-year high of 79.6% in July, data showed on Wednesday as the lira’s continued weakness and global energy and commodity costs pushed…
By Moira Warburton WASHINGTON -A bill expanding healthcare coverage for veterans sickened by gases from military toxic burn pits passed the U.S. Senate on Tuesday night after unexpectedly getting held…
By Kitiphong Thaichareon BANGKOK – Thailand’s economy is still expected to grow 2.75% to 3.5% this year, helped by increased exports, more tourists, and government support, but faces rising inflationary…