Adidas CEO says fat China margins to stabilize as thin U.S. margins grow
SHANGHAI (Reuters) – German sports apparel brand adidas AG expects its huge operating margin in China to shrink slightly in the long term, while its small U.S. margin grows markedly in the near term, its new chief executive officer said on Thursday.
Pernod rides U.S and China growth, cautions on India highway ban
PARIS (Reuters) – Pernod Ricard’s third quarter sales beat forecasts on Thursday, lifting its shares, but the French spirits group cautioned that a ban on alcohol sales near Indian highways would slow growth in its second-largest market.
Saudi Arabia, Kuwait signal likely extension of oil output cut
ABU DHABI (Reuters) – Leading Gulf oil exporters Saudi Arabia and Kuwait gave a clear signal on Thursday that OPEC plans to extend into the second half of the year a deal with non-member producers to curb supplies of crude.
ConocoPhillips takes slow, steady route in race for oil profits
HOUSTON (Reuters) – ConocoPhillips has beaten its 2017 asset sales target less than four months into the year, after shedding $30.8 billion worth of energy assets in six years.
Trump administration, world financial officials clash over trade
WASHINGTON (Reuters) – The Trump administration had a simple but stark message for world financial leaders who gathered in Washington on Thursday amid worries about rising U.S. protectionism: fair trade means tit-for-tat tariffs.
Elliott releases private letters after Arconic CEO’s departure
(Reuters) – Activist hedge fund Elliott Management released the private letter written by Arconic Inc’s former chief executive, Klaus Kleinfeld, which consequently led to his resignation, and their response to the letter and Arconic’s statement on Apr…
Exclusive: Buffett likely voted shares to back Wells Fargo board
NEW YORK (Reuters) – Wells Fargo & Co’s largest investor, Warren Buffett, has likely already voted his shares to support the bank’s recommendations at its contentious annual shareholder meeting next week, a representative told Reuters on Wednesday, which include reinstating most of the board’s directors.
General Motors says Venezuela illegally seizes auto plant
CARACAS (Reuters) – General Motors said on Wednesday that Venezuelan authorities had illegally seized its plant in the industrial hub of Valencia and vowed to “take all legal actions” to defend its rights.
Oil prices claw back ground after sharp drop, buoyed by U.S. crude stock dip
SINGAPORE (Reuters) – Oil prices regained some ground on Thursday after steep losses the previous day, with a slight drop in U.S. crude inventories stoking hopes that a push to rein in global oversupply could be gathering at least some momentum.
Global stocks struggle as French elections loom, North Korea worries
LONDON (Reuters) – World stocks eked out small gains on Thursday as investors resisted risky bets ahead of the first round of the French presidential election over the weekend.
