March 12 Reuters Industrial conglomerate 3M has tapped Bill Brown, the former top boss at L3Harris Technologies, as its next CEO, betting on an outsider to steer the company through a period of slowing sales and the fallout of multiple lawsuits. The company39;s shares jumped nearly 7 on Tuesday. They are down about 14 this year […]

March 12 Reuters Kohl39;s on Tuesday forecast annual sales and profit largely below market expectations, joining Macy39;s and Nordstrom to warn of a challenging year for U.S. department stores. Shares of Kohl39;s, which gained about 14 in 2023, fell 2 in early trading as it posted a steeperthanexpected drop in samestore sales in the fourth quarter. […]

CHICAGO, Reuters Tyson Foods will permanently close a pork plant in Perry, Iowa, the meatpacker said on Monday, eliminating jobs for about 1,200 workers. The company, which reaped big profits as meat prices soared during the COVID19 pandemic, has since confronted a decline and slowing demand for some products. Tyson has announced the closures of six U.S. […]

BEIJING, March 12 Reuters China39;s Xiaomi said on Tuesday it will start deliveries of its first electric vehicle EV model SU7 this month, venturing into the world39;s largest auto market amid a brutal price war. The smartphone maker, China39;s fifthlargest, said in a Weibo post it has 59 stores in 29 cities nationwide that will take […]

Reuters Oracle said on Monday it is set to make a joint announcement with chipgiant Nvidia, and it beat estimates for quarterly profit, riding on the generative AI demand boom, sending shares up nearly 14 in extended trading. The lateday rally in Oracle39;s shares added more than 40 billion to its stock market value. The 46yearold […]

BERLIN, March 12 Reuters German luxury carmaker Porsche expects profitability to tick downwards in 2024 as it focuses on launching four new models, the company said on Tuesday, posting fullyear results largely in line with expectations despite market volatility. The group, which is majorityowned by Volkswagen, is targeting an operating return on sales in the range […]