Coty sees revenue improving as turnaround plan takes shape; shares rise
Cosmetics maker Coty Inc raised its annual revenue forecast on Wednesday, as it embarks on a multi-year turnaround plan that involves cost cuts and increased investment in advertising, sending shares up 5%.
Explainer: U.S. dollar intervention: What would it take?
The strength of the U.S. dollar has long been a thorn in President Donald Trump’s side. That has put the almost unthinkable scenario of currency intervention up for debate in global foreign exchange circles.
Tiffany profit tops Wall St. estimates even as sales fall on tourist spending drop
Luxury jeweler Tiffany & Co on Wednesday reported quarterly earnings that beat estimates on increased spending by local customers in mainland China and a cut-back on marketing costs, even as declines in tourist spending in the United States dragged on sales.
Citi raises minimum wage to $15 per hour
Citigroup Inc. raised its minimum wage to $15 per hour earlier this year following pressure from politicians and similar moves by other big banks.
Wall Street flat on recession fears, energy shares offer support
Wall Street treaded water on Wednesday after moves in the U.S. bond market brought back fears of a recession as a bruising U.S.-China trade war drags on, while a rise in energy shares offered support.
Tiffany sales fall on tourist spending drop in U.S., but earnings beat estimates
Luxury jeweler Tiffany & Co said on Wednesday declines in tourist spending in the United States dragged on sales, but it reported quarterly earnings that beat estimates on increased spending by local customers in mainland China and a cut-back on marketing costs.
Fitbit unveils Versa 2 smartwatch with Amazon’s Alexa
Fitbit Inc on Wednesday launched its latest smartwatch, Versa 2, adding Amazon.com Inc’s voice assistant Alexa, online payments and music storage in a bid to compete strongly with Apple Inc’s smartwatches.
United Airlines moving its Boeing 737 MAX jets to short-term storage in Arizona
United Airlines is starting to move its 14 Boeing 737 MAX jets to short-term storage in Phoenix, Arizona, which has better weather for stored aircraft and where it will be easier to prepare them for commercial flight again, the carrier said on Wednesd…
Wall Street opens lower as recession fears loom
Wall Street’s main indexes opened lower on Wednesday after moves in the U.S. bond market brought back fears of a recession as the U.S.-China trade war drags on.
China’s Fosun set to save Thomas Cook as key terms agreed
British travel operator Thomas Cook Group said on Wednesday it had agreed the main terms of a rescue package that will see China’s Fosun Tourism take over its tour operations and creditor banks and bondholders acquire its airline.
