Ralph Lauren sales, profit beat as it reins in discounts
(Reuters) – Ralph Lauren Corp’s quarterly profit and sales topped estimates as the luxury apparel maker reined in discounts and cut inventories in a bid to boost margins.
Wal-Mart’s online sales, customer visits rise; shares hit 52-week high
CHICAGO (Reuters) – Wal-Mart Stores Inc on Thursday reported higher-than-expected quarterly sales at established U.S. stores, as a huge investment to bring more customers into the discount retailer paid off and a bigger push into e-commerce boosted onl…
Credit Suisse on track to achieve end-2018 cost target: chairman
ZURICH (Reuters) – Credit Suisse is on track to hit its targeted cost base by end-2018, Chairman Urs Rohner said on Thursday, part of a broad restructure of Switzerland’s second-biggest bank.
Deutsche Bank wants former bosses to share past misconduct costs
FRANKFURT (Reuters) – Deutsche Bank expects former board members to contribute substantial sums toward the costs of its past misconduct as Germany’s biggest lender seeks to rebuild its reputation, its chairman Paul Achleitner said.
GM will cut operations in India, South Africa
DETROIT (Reuters) – General Motors Co plans to quit selling vehicles in India by the end of this year and will sell operations in South Africa, the latest steps in a strategy of focusing cash and engineering effort on fewer, more profitable markets.
EU fines Facebook 110 million euros over WhatsApp deal
BRUSSELS (Reuters) – European Union antitrust regulators fined Facebook 110 million euros ($122 million) on Thursday for giving misleading information during a vetting of its deal to acquire messaging service WhatsApp in 2014.
Apple begins assembling iPhone SE in southern India plant
MUMBAI (Reuters) – Apple Inc has begun assembling its low-priced iPhone SE at its contract manufacturer’s plant in the technology hub of Bengaluru in southern India, the company said in a statement.
Trump storm strikes global stocks again, dollar steadies
LONDON (Reuters) – Swirling uncertainty over U.S. President Donald Trump’s political future saw world stocks extend their steepest fall in over six months on Thursday, though there were signs of stabilization elsewhere as the dollar and gold steadied.
Australian billionaire uses indigenous land laws to keep prospectors off farm
SYDNEY (Reuters) – Mining magnate Andrew Forrest has used laws designed to protect indigenous land rights to stop prospectors searching for minerals on his West Australian cattle farms, angering both traditional Aboriginal landowners and mining communi…
Senators from both parties try to ease banking for marijuana businesses
WASHINGTON (Reuters) – Republican and Democratic senators on Wednesday renewed their drive to make banking easier for marijuana-based businesses in those U.S. states where the drug is legal, undeterred by signals from the Trump administration about mai…
