By Ananya Mariam Rajesh (Reuters) -Birkenstock missed quarterly profit expectations on Thursday as the German sandal maker’s global expansion drive and production ramp-up compressed its margins, sending its shares down 12% in early trading. The company has been opening more stores in newer markets such as India and Japan amid robust global demand and to […]

By Heekyong Yang and David Shepardson SEOUL/WASHINGTON (Reuters) -South Korea’s Samsung SDI said on Wednesday it has completed an agreement with General Motors to build a joint electric vehicle (EV) battery factory in the U.S. state of Indiana. The two companies will invest about $3.5 billion to build a battery cell manufacturing plant with an […]

By John Biju and Sneha Kumar (Reuters) – Earnings of Australia’s top supermarket chains are likely to show constricted spending presenting a challenging outlook for Woolworths and Coles, as consumers deal with painfully high mortgage rates and sticky inflation. Decade-high interest rates and stubborn inflation still running above the central bank’s target range has prompted […]

By Erwin Seba HOUSTON (Reuters) -U.S. light crude oil gained more than 2% a barrel on Friday after comments by U.S. Federal Reserve Chair Jerome Powell indicated the central bank was preparing to cut interest rates. Brent crude futures settled up by $1.80, or 2.33%, at $79.02 a barrel. U.S. West Texas Intermediate (WTI) crude […]

(Reuters) -Off-price retailer TJX Cos raised annual profit forecast after quarterly results beat estimates on Wednesday, banking on gains from easing costs and strong demand for its affordable apparel and accessories. Shares of the company were up about 5% in early trading. Over the past six quarters, TJX has kept prices low to attract shoppers […]

By David Shepardson (Reuters) -General Motors said Monday it is laying off more than 1,000 salaried employees at its software and service units worldwide. GM, confirming the layoffs initially reported by CNBC, said in a statement that “as we build GM’s future, we must simplify for speed and excellence, make bold choices, and prioritize the […]

WASHINGTON (Reuters) – Production at U.S. factories fell in July amid a decline in motor vehicle output and disruptions from Hurricane Beryl. Factory output dropped 0.3% last month, the Federal Reserve said on Thursday. Data for June was revised lower to show production unchanged instead of rising 0.4% as previously reported. Economists polled by Reuters […]