Neiman Marcus’ same-store sales fall amid apparel slowdown
(Reuters) – U.S. luxury fashion retailer Neiman Marcus Group Ltd LLC [NMRCUS.UL] reported its third straight quarterly drop in sales at established stores and a nearly 81 percent fall in profit amid a slowdown in apparel spending.
VW’s controlling clan to discuss on Monday whether to block dividend: sources
BERLIN/HAMBURG (Reuters) – The company that controls Volkswagen will hold a board meeting on Monday to discuss its strategy for the German carmaker’s annual shareholder meeting and decide whether to block its plans to pay a dividend, two people familia…
Exclusive: ECB would pledge to backstop markets after a Brexit – sources
FRANKFURT (Reuters) – The European Central Bank would publicly pledge to backstop financial markets in tandem with the Bank of England should Britain vote to leave the European Union, officials with knowledge of the matter told Reuters.
Business inventories rise modestly as sales surge
WASHINGTON, June 14 (Reuters) – U.S. business inventories barely rose in April as sales recorded their biggest increase in more than two years, pointing to a slow pace of inventory accumulation that could weigh on economic growth in the second quarter….
Xerox names Ashok Vemuri as CEO of post-split BPO business
(Reuters) – Xerox Corp said on Tuesday Ashok Vemuri will become the chief executive of its business process outsourcing unit after the company splits into two publicly traded entities.
Exxon CEO back at Russia shindig after hiatus over Ukraine: sources
MOSCOW (Reuters) – Exxon Mobil Chief Executive Rex Tillerson is to attend a major investment forum in Russia this week, two industry sources said, ending a two year absence from the event that began when sanctions were imposed on Russia over the crisi…
Import prices post largest gain in four years in May
WASHINGTON, June 14 (Reuters) – – U.S. import prices recorded their biggest increase in more than four years in May on rising costs of petroleum and other products, pointing to firming inflation as the drag from a strong dollar and lower oil prices fad…
Exclusive: EU set to clear unconditionally Marriott, Starwood deal – source
BRUSSELS (Reuters) – U.S. hotel chain Marriott International is on track to win unconditional EU antitrust approval for its cash and share purchase of Starwood Hotels and Resorts Worldwide Inc , a person familiar with the matter said on Tuesday.
Quicken founder and Warren Buffett have ties beyond Yahoo deal
DETROIT (Reuters) – The connection between Quicken Loans Inc founder Dan Gilbert and billionaire magnate Warren Buffett became evident last month with news that Buffett was backing Gilbert’s surprise bid for Yahoo Inc.
Labor groups criticize Disney over worker conditions at China suppliers
SHANGHAI (Reuters) – China-based labor groups have criticized Walt Disney Co over conditions at a small number of its local suppliers, highlighting issues such as low wages, high rates of injury and health risks from exposure to chemicals and dust.
