Business News

Sears' same-store sales losses narrow but warns it may go out of business

(Reuters) - Sears Holdings Corp (SHLD.O) reported a smaller decline in quarterly same-store sales on Thursday, but warned again that there is doubt about the company’s continued operation as it awaits approval to sell some of its businesses to its chief executive’s hedge fund. “It is imperative that the Company reduce debt, adjust its debt maturity profile and eliminate the associated cash interest obligations,...

14 Sep 1:11 AM 0 Read More...

IKEA targets home delivery by electric vehicle in five major cities by 2020

STOCKHOLM (Reuters) - IKEA Group, the owner of most IKEA stores worldwide, said on Friday all its home deliveries in the inner cities of Amsterdam, Los Angeles, New York, Paris and Shanghai would be made by electric vehicles or through other zero-emission means by 2020. The world’s biggest furniture retailer said in a statement that that would mean 25 percent of its home deliveries would be zero-emission by 2020. ...

14 Sep 1:11 AM 0 Read More...

L Brands to close all Henri Bendel stores, website

(Reuters) - Victoria’s Secret owner L Brands Inc (LB.N) on Thursday said it would close all 23 of its Henri Bendel stores and the Henri Bendel e-commerce website in January. The company cut its full-year earnings forecast in August, blaming falling demand for its PINK line of lingerie amid competition from brands such as American Eagle Outfitter’s (AEO.N) Aerie. The company expects Henri Bendel, which sells women...

14 Sep 1:10 AM 0 Read More...

Atlanta Fed's Bostic: Rate hikes can continue for several more quarters

JACKSON, Miss. (Reuters) - There may be room for the U.S. jobs market to improve further without pressure on inflation, an argument for the Fed to be patient as it considers further rate increases, Atlanta Federal Reserve bank president Raphael Bostic said on Thursday. Bostic said he agreed the Fed should be gradually moving rates higher, toward an estimated “neutral” setting, and that the process could continue ...

13 Sep 8:09 PM 0 Read More...

Canadian PM says he wants a good NAFTA deal as soon as possible

SASKATOON, Saskatchewan (Reuters) - Canadian Prime Minister Justin Trudeau said on Thursday he wanted a good NAFTA deal as soon as possible, but did not answer directly when asked if he agreed with Washington that Sept. 30 was the final deadline for talks. Canada and the United States are struggling to settle differences over access to the Canadian dairy market and how to resolve trade disputes. The United States has...

13 Sep 8:09 PM 0 Read More...

Company veteran named Airbus sales chief after ex-Rolls executive quits

PARIS (Reuters) - Airbus (AIR.PA) named its second new sales chief in less than a year on Thursday after chief commercial officer Eric Schulz abruptly resigned nine months after being poached from Rolls-Royce (RR.L) to lead the battle for jet sales against Boeing. The European planemaker said Christian Scherer, head of turboprop maker ATR and an Airbus veteran who had been beaten to the job by Schulz in November last...

13 Sep 8:09 PM 0 Read More...

Wall Street gains with Apple, easing trade concerns

NEW YORK (Reuters) - Apple led a rebound in technology shares and boosted all three major U.S. stock indexes on Thursday, while trade worries eased after China said it was open to fresh talks with the United States. The technology sector .SPLRCT climbed 1.1 percent on the day, boosted by Apple’s (AAPL.O) 2.3 percent gain. Trade worries softened after the Trump administration invited Beijing for a new round of talks...

13 Sep 8:09 PM 0 Read More...

Exclusive: Airbus sales chief Eric Schulz expected to quit - sources

PARIS (Reuters) - Airbus Chief Commercial Officer Eric Schulz, recruited from engine maker Rolls-Royce nine months ago to oversee the battle for jetliner sales against Boeing, is expected to resign his position, three people familiar with the matter said. Airbus faces a slowdown in sales and is also battling against delays and reliability problems with engines that have left the Frenchman increasingly frustrated, the...

13 Sep 3:09 PM 0 Read More...

U.S. imposes North Korea-related sanctions on Russian, Chinese tech firms

WASHINGTON (Reuters) - The United States on Thursday imposed sanctions on a China-based tech firm, its North Korean CEO and a Russian subsidiary, accusing them of moving illicit funding to North Korea in violation of U.S. sanctions. The new sanctions target China-based Yanbian Silverstar Network Technology Co, its North Korean chief executive Jong Song Hwa, and a Russian-based sister company, Volasys Silver Star, the...

13 Sep 3:09 PM 0 Read More...

Trade hopes, Turkey rate hike feed the bulls

NEW YORK (Reuters) - Signs of movement in the U.S.-China trade stand-off and a rate hike in emerging market trouble spot Turkey sent an index of global stocks higher on Thursday as risk appetite returned. Wall Street [.N] opened higher, following broad gains in Europe [.EU] and Asia’s major markets [.SS], after news that U.S. President Donald Trump’s administration had put out feelers to Beijing for a new round o...

13 Sep 3:09 PM 0 Read More...