Tiffany’s lackluster sales sends shares down
(Reuters) – Tiffany & Co reported lower-than-expected quarterly sales and a surprise drop in comparable sales, underscoring the upscale jeweler’s struggles with a strong dollar that has crimped spending by tourists and weak demand at home.
‘Food revolution’: megabrands turn to small start-ups for big ideas
LONDON (Reuters) – Food and drink megabrands are seeing their sales chewed away by smaller, nimbler, cooler rivals. They can’t beat them – so now they’re joining them.
Trump tax reforms could push Israeli tech companies to the U.S.
JERUSALEM (Reuters) – U.S. President Donald Trump’s plans for sharp cuts to corporate taxes will lead Israeli technology companies, a lynchpin of Israel’s economy, to consider shifting their domicile to the United States, industry and accountancy execu…
Lowe’s quarterly comparable sales miss estimates
(Reuters) – Lowe’s Cos Inc , the No. 2 U.S. home improvement retailer, reported lower-than-expected quarterly comparable sales, sending shares down almost 6 percent in premarket trading on Wednesday.
General Electric signs 1 billion riyal deal to build gas turbines in Saudi Arabia
RIYADH (Reuters) – General Electric (GE) signed a one billion riyal ($267 million) joint venture agreement on Wednesday with Saudi Arabia’s state-backed Dussur industrial development company to manufacture gas turbines in the eastern city of Dammam.
OPEC, non-OPEC set for new oil cut, eye longer duration
VIENNA (Reuters) – OPEC and non-member oil producers are set to extend output cuts on Thursday, possibly by as long as 12 months, to help clear a global stocks overhang and prop up crude prices.
Judge gives RBS a week to end investor suit or face trial
LONDON (Reuters) – A judge has given Royal Bank of Scotland and thousands of investors until June 1 to agree a deal that would avert a trial over the bank’s 12 billion pound cash call in 2008.
Bunge says not in talks with Glencore following approach
CHICAGO (Reuters) – U.S. grains trader Bunge Ltd said on Tuesday it was not in talks with Swiss mining and commodities group Glencore Plc , after the latter said it had made an informal approach to discuss “a possible consensual business combination.”…
U.S. financial council reimagined as boon, not bane, for Wall Street
WASHINGTON (Reuters) – The Financial Stability Oversight Council (FSOC), which brings together all U.S. financial watchdogs, used to be the scourge of Wall Street but under Treasury Secretary Steven Mnuchin it can serve to ease its regulatory burdens.
U.S. appeals court hears arguments weighing on Wall Street policing
WASHINGTON (Reuters) – A U.S. appeals court panel questioned government lawyers at length on Wednesday in oral arguments on whether or not the Securities and Exchange Commission’s hiring of administrative law judges for in-house proceedings violated th…
