Online retailer Shein’s 2023 sales hit $2 billion in UK
By Helen Reid (Reuters) -Shein’s British business made 1.55 billion pounds ($2 billion) in revenue in 2023, a filing by the on..
Business
Business
Exclusive-Samsung Electronics says it is not interested in spinning off foundry business
By Neil Jerome Morales and Heekyong Yang MANILA/SEOUL (Reuters) – Samsung Electronics is not interested in spinning off i..
Business
Italgas sees double-digit income growth to 2030, ups minimum dividend rise
By Francesca Landini and Cristina Carlevaro MILAN (Reuters) -Italy’s biggest gas distributor Italgas expects double-digit..
Business
Exclusive-Online retailer Shein to hold roadshows soon ahead of London IPO, sources say
By Julie Zhu, Amy-Jo Crowley and Hadeel Al Sayegh HONG KONG/LONDON (Reuters) – Shein is set to hold informal investor meetings i..
Business
Levi Strauss shares fall on weak holiday-quarter forecast
(Reuters) – Levi Strauss’ shares fell about 7% on Thursday after a tepid forecast for holiday-quarter revenue underscored ..
Business
Britain’s Tesco lifts profit outlook after strong first half
By James Davey LONDON (Reuters) -Tesco, Britain’s biggest supermarket group, lifted its annual profit forecast on Thursday after..
Business
Britain’s Tesco lifts annual profit forecast after strong first half
By James Davey LONDON (Reuters) -Tesco, Britain’s biggest supermarket group, lifted its annual profit forecast on Thursda..
Business
Euro area long-dated yields rise after sharp drop, geopolitics in focus
By Stefano Rebaudo (Reuters) – Euro area government bond yields rose on Wednesday, a day after long-dated yields posted their ..
Business
Sainsbury’s boss looks to UK budget to lift spending gloom
By James Davey COBHAM, England (Reuters) – Britons bruised by a cost of living crisis will not start spending strongly again unt..
Business
UK house prices rise 0.7% in September, Nationwide says
LONDON (Reuters) -British house prices rose by a higher-than-expected 0.7% in September from August, with the annual growth rat..
Business
Exclusive-ByteDance plans new AI model trained with Huawei chips, sources say
(Reuters) – TikTok’s Chinese parent ByteDance plans to develop an AI model trained primarily with chips from compat..
Business
Discounter Pepco’s sales hurt by supply chain disruption
By James Davey LONDON (Reuters) -European discount retailer Pepco Group said its fourth-quarter underlying revenue was lower th..
Business
Miniso shares slump on plans to buy stake in Yonghui Superstores
HONG KONG (Reuters) -Shares of Miniso Group Holding plunged as much as 39.2% to HK$20 ($2.57) on Tuesday after the company said..
Business
Nike veteran Hill to replace Donahoe as CEO; shares jump
By Juveria Tabassum, Nicholas P. Brown (Reuters) -Nike said on Thursday that former senior executive Elliott Hill will rejoin the comp..
Business
Nike’s next CEO Hill brings a bootstraps mentality
By Nicholas P. Brown (Reuters) – Elliott Hill started at Nike as an intern in 1988 but steadily scaled its ranks, banking on v..
Business
UK supermarket sales growth slows after summer holidays
LONDON (Reuters) – British supermarket sales growth slowed over the last month as consumers trimmed spending after their summer ..
Business
French millers face long grind as rain-hit wheat harvest comes in
PARIS (Reuters) – Flour mills in France are facing higher costs and a long search for grain as they feel the effects of a dire w..
Business
UK’s Asda says retail veteran Stuart Rose to lead business
By James Davey LONDON (Reuters) -British supermarket group Asda, which has been losing market share, said its chairman, veteran..
Business
Daimler Truck eyes half of Europe sales from EVs in 2030
By Ilona Wissenbach and Andrey Sychev HANOVER, Germany (Reuters) -Daimler Truck, one of the world’s biggest commercial ve..
Business
BP to sell its US onshore wind business
(Reuters) -BP plans to sell its U.S. onshore wind energy business, it announced on Monday, saying the assets were not aligned with its..
Business
Central Europe factories and retailers shut in flood-hit areas
By Jan Lopatka PRAGUE (Reuters) -Factories and stores across central Europe shut down production lines and closed their doors on Monda..
Business
British ministers head to Gulf for talks on new trade deal
(Reuters) – Britain’s new trade ministers visited the Gulf region on Monday in a first joint visit for talks on a possible..
Business
UK’s Domino’s Pizza plans to hire 5,000 staff ahead of peak holiday season
(Reuters) – Britain’s Domino’s Pizza Group said on Monday that it plans to hire 5,000 staff across the UK and..
Business
Saipem wins $4 billion contract from QatarEnergy
(Reuters) – Italian energy engineering group Saipem said on Sunday it had won an offshore contract worth $4 billion from ..
Business
US locks in steep China tariff hikes, many to start Sept. 27
By David Lawder (Reuters) -The Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty o..
Business
Zara to offer its secondhand clothes service in US by October
MADRID (Reuters) – Zara will offer its service for selling, repairing or donating secondhand clothes in the United States by the..
Business
Scotland’s only oil refinery to close next year, 400 jobs to go
By Ron Bousso and Robert Harvey LONDON (Reuters) -Grangemouth, Scotland’s only oil refinery, is to close in 2025 with the loss o..
Business
Bank of England eyes growth with lighter bank capital reforms for UK lenders
By Sinead Cruise LONDON (Reuters) -The Bank of England aims to roll out revised new rules on how much capital UK banks must set aside ..
Business
Zara owner Inditex sees early autumn sales perk up after summer slowdown
By Corina Pons MADRID (Reuters) -Zara owner Inditex reported a jump in sales of its autumn/winter collection on Wednesday, boosting it..
Business
Services’ grip on UK economy tightens as manufacturing share ebbs further
By Andy Bruce (Reuters) – Britain’s shift towards a services-dominated economy is accelerating, pushing manufacturing̵..
Business
Etihad Airways plans IPO no earlier than 2025, sources say
By Hadeel Al Sayegh, Andres Gonzalez and Federico Maccioni DUBAI/LONDON (Reuters) -Abu Dhabi’s Etihad Airways plans to make its ..
Business
Key events at Nike under CEO John Donahoe
(Reuters) – Nike will hold its annual meeting virtually on Tuesday and a key issue to be voted on will be a workers’ right..
Business
UK pay growth cools, keeping BoE on track for another rate cut
By Andy Bruce and Suban Abdulla LONDON (Reuters) -British pay growth cooled in the three months to July to a more than two-year low an..
Business
Aldi UK says shoppers trading up as inflation eases
By Paul Sandle LONDON (Reuters) -Supermarket group Aldi UK said its prices this summer were on average lower than a year ago, easing s..
Business
South Africa’s SPAR sells Polish business to Specjal
JOHANNESBURG (Reuters) – South Africa’s second-biggest grocery group SPAR has sold its loss-making business in Pola..
Business
Malaysia central bank to hold rates at 3.0% until at least 2026: Reuters poll
By Pranoy Krishna BENGALURU (Reuters) – Bank Negara Malaysia (BNM) will leave its key interest rate unchanged on Thursday..
Business
Oil edges higher as halted Libyan exports balance expected OPEC+ supply boost
By Nia Williams and Arunima Kumar (Reuters) -Oil prices edged higher on Monday, recovering some losses from late last week, as ..
Business