J.C. Penney same-store sales rise 3.9 percent in November-December
(Reuters) – J.C. Penney Co Inc said same-store sales surged during the holiday shopping months of November and December due to strong demand for its private-label offerings and gift products and higher online sales.
China turmoil sends oil, stocks sliding
LONDON (Reuters) – Global shares tumbled for a sixth day on Thursday and oil prices slid to levels not seen since the early 2000s, after China guided the yuan lower and Shanghai shares tumbled by 7 percent, igniting fears of competitive devaluations ac…
A rebranded Saab at the center of China’s green car push
BEIJING (Reuters) – The Swedish automaker once known as Saab has emerged as part of China’s push to make electric vehicles a mass-market alternative to petrol cars, after getting a $12 billion order for EVs.
Airbus defense asset sale ‘progressing well’: strategy chief
PARIS (Reuters) – Airbus Group is making good progress in the sale of its defense electronics activities, a top executive said on Thursday.
M&S veteran Rowe to succeed Bolland as chief executive
LONDON (Reuters) – Marc Bolland will step down as the boss of Marks & Spencer in April, bringing an end to six difficult years at the British retailer following yet another weak Christmas.
Mitsubishi to close U.S. auto plant after failing to find buyer
TOKYO (Reuters) – Mitsubishi Motors said on Thursday it would close its sole production plant in the United States as the Japanese automaker cuts losses on dwindling sales in North America and a strong U.S. dollar, which has stymied returns.
Exclusive: Scotia in talks to sell part of commercial financing portfolio -sources
TORONTO (Reuters) – Bank of Nova Scotia , Canada’s third biggest lender, is in discussions to sell a C$1 billion ($715 million) vendor and equipment financing portfolio, according to four sources familiar with the matter.
Macy’s to cut jobs, shut stores amid weak holiday sales
(Reuters) – Macy’s Inc said it will eliminate more than 2,000 jobs and consolidate operations after reporting weak holiday sales, highlighting a downturn in apparel demand that has likely taken a similar toll on other department stores and clothing cha…
Apple paid CEO Tim Cook $10.3 million in 2015
(Reuters) – Apple Inc Chief Executive Tim Cook’s compensation rose 11.5 percent to $10.3 million in 2015, the company said on Wednesday, a year when its sales grew 28 percent and profits by 35 percent but its shares fell for the first time since 2008.
TransCanada sues U.S. over Keystone XL pipeline rejection
CALGARY/WASHINGTON (Reuters) – TransCanada Corp sued the U.S government on Wednesday to reverse President Barack Obama’s rejection of the Keystone XL pipeline, and also plans to seek $15 billion in damages from a trade tribunal.
