Kering drops suit against Alibaba, to co-operate on counterfeits
PARIS (Reuters) – French luxury goods group Kering has dropped a lawsuit filed in New York against Alibaba and Alipay and agreed instead to co-operate with the two companies to safeguard intellectual property rights and fight counterfeiting.
Dow hits record high as Amazon, Apple pull down S&P 500
(Reuters) – The S&P 500 and the Nasdaq fell on Thursday, weighed down by Amazon.com, Apple and other top-shelf technology stocks, while the Dow Jones Industrial Average edged up to a seventh straight record high.
U.S. labor market tightening; services sector growth slowing
WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits fell last week, pointing to a tightening labor market that likely keeps the Federal Reserve on course to announce plans next month to start reducing its massive bond portfo…
U.S. planned layoffs fall; hiring picks up in July: Challenger
NEW YORK (Reuters) – The number of planned layoffs at U.S. companies dropped in July to its lowest since November while job-opening announcements notched up, a sign that businesses are confident that the economy will continue to expand, a report releas…
Rising losses, investor pressure push Avon CEO Sheri McCoy to quit
(Reuters) – Avon Products Inc , which has been under pressure from activist investor Barington Capital, said Sheri McCoy will step down as chief executive next year, and reported another surprise quarterly loss.
Yum Brands worldwide same-store sales miss estimates
(Reuters) – Yum Brands Inc , the owner of KFC and Taco Bell, reported a lower-than expected rise in quarterly sales at established restaurants worldwide as fewer diners ate at its Pizza Hut restaurants.
EU sends charge sheet to Visa over inter-regional fees
BRUSSELS (Reuters) – The European Commission said on Thursday it had sent a charge sheet to credit card group Visa over the fees merchants have to pay when customers from outside the bloc make purchases in the European Union.
Dish misses profit expectations but limits subscriber losses
(Reuters) – Dish Network Corp’s shares declined on Thursday after the satellite television provider’s quarterly results missed analysts’ estimates, and its chief executive declined to give specifics on merger discussions, saying that the company was f…
Amazon’s Hollywood spending soars, returns unclear
SAN FRANCISCO (Reuters) – Amazon.com Inc is quickly ramping up the billions of dollars a year it spends on creating and licensing TV shows and films, signaling the retailer plans to be in show business for the long haul.
Teva to proceed with Rimsa breach of contract suit after ruling
JERUSALEM (Reuters) – Teva Pharmaceutical Industries said on Thursday it would continue to pursue a breach of contract suit against the former owners of its Rimsa plant in Mexico after a New York judge rejected Teva’s claim of fraud.
