Adidas CEO vows to stay on, admits mistakes – paper
BERLIN (Reuters) – The long-serving chief executive of Adidas has no intention of stepping down despite criticism as the German sportswear company loses ground to U.S. rival Nike , he told a German newspaper.
Dollar steadies before Fed, Europe slips on Greece
LONDON (Reuters) – Stocks and the dollar retrenched on Wednesday amid speculation the Federal Reserve will take a dovish turn in its post-meeting statement later as signs emerge that the greenback’s strength is hurting company profits.
Shake Shack now expects IPO to be priced higher at $17-$19 a share
(Reuters) – Burger chain Shake Shack Inc now expects its initial public offering to be priced at $17-$19 per share, up from $14-$16 expected earlier, valuing the company at up to $674.5 million.
iPhone sales trample expectations as profit sets global record
(Reuters) – Apple Inc quarterly results smashed Wall Street expectations with record sales of big-screen iPhones in the holiday shopping season and a 70 percent rise in China sales, powering the company to the largest profit in corporate history.
Qatari-led group wins $4 billion battle for London’s Canary Wharf
LONDON (Reuters) – A Qatari-led consortium looked set to win its long-running battle to buy Songbird Estates on Wednesday after the owner of London’s Canary Wharf business district dropped its opposition to the $4 billion offer.
Exclusive: China plans to set 2015 growth target at ‘around 7 percent’ – sources
BEIJING (Reuters) – China plans to cut its growth target to around 7 percent in 2015, its lowest goal in 11 years, sources said, as policymakers try to manage slowing growth, job creation and pursuing reforms intended to make the economy more driven by…
Shares in Apple suppliers leap on record results
LONDON (Reuters) – Shares in European companies that supply parts to Apple Inc leapt on Wednesday after the tech giant reported the largest profit in corporate history, driven by record sales of iPhones and strong demand in China.
China regulator blasts Alibaba for illegal business on its websites
SHANGHAI (Reuters) – A China regulator has accused Alibaba Group Holding Ltd of failing to clean up what it called illegal business deals on the e-commerce titan’s platforms, in an unusually strong government criticism of one of the country’s biggest p…
Shell signs $11 billion deal to build petrochemicals plant in Iraq
BAGHDAD (Reuters) – Royal Dutch Shell has signed a deal with Iraq worth $11 billion (7 billion pounds) to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser al-Esawi said on Wednesday.
Alibaba finance arm sets up China consumer credit-scoring system
SHANGHAI (Reuters) – – The financial services affiliate of Alibaba launched on Wednesday a system that will use the e-commerce giant’s data trove to assess the creditworthiness of Chinese consumers and businesses with little or no history at traditiona…
