PARIS, July 19 Reuters Burberry39;s new boss Joshua Schulman faces an immediate strategy dilemma. On Monday, the former head of Coach was appointed to replace Jonathan Akeroyd, becoming the fourth CEO of the 2.6 billion pounds 3.36 billion British fashion house in 10 years. Chairman Gerry Murphy vowed on the same day to continue Burberry39;s upmarket push to compete […]

PARIS, July 19 Reuters France39;s champagne producers on Friday called for a cut in the number of grapes harvested this year after sales of the wine fell more than 15 in the first half of the year as customers tightened their belts due to an uncertain economy. Champagne shipments in the first half of 2024 […]

NEW YORK, July 19 Reuters Top U.S. asset manager Vanguard favors highrated corporate debt over riskier highyield companies39; bonds as it seeks protection against the possibility a sharperthananticipated U.S. economic downturn caused by high borrowing costs, it said in a report. After one year since the Federal Reserve last raised interest rates, investors largely expect […]

July 19 Reuters FedEx Corp said on Friday it faced substantial disruptions throughout its networks due to a global IT outage experienced by a third party software vendor. A global tech outage was disrupting operations in multiple industries on Friday, with airlines halting flights, some broadcasters going offair and everything from banking to healthcare hit by system problems. […]

BEIJING, July 19 Reuters A decision by the Trump administration to sanction Chinas Xiaomi Corp in early 2021 was the catalyst for the companys decision to build its first electric car, CEO Lei Jun said on Friday. Best known for its smartphones and home appliances, Xiaomi entered Chinas crowded EV market this year, part of its strategy to […]

BENGALURU, July 19 Reuters India39;s Paytm reported a wider firstquarter loss on Friday, its biggest since it went public in November 2021, hurt by weakness in its payments business after the central bank39;s directive to wind down its banking unit. The digital payments firm39;s consolidated net loss widened to 8.39 billion rupees 100.3 million for the […]

July 19 Reuters Britain39;s competition regulator said on Friday it has cleared Nationwide Building Society39;s proposed 2.9billionpound 3.75 billion allcash deal to buy Virgin Money UK. The deal, which was announced in March and is expected to close in the fourth quarter, could create the country39;s secondlargest savings and mortgage provider, after Lloyds Banking Group, the owner of […]

EDINBURGHLONDONSEOUL, July 19 Reuters Air passengers around the world faced delays, cancellations and problems checking in as airports and airlines were caught up in a massive IT outage that also affected industries ranging from banks to media companies. In Edinburgh, a Reuters witness said boarding pass scanners carried a server offline message, with the airport saying passengers […]

LONDON, July 19 Reuters Airbus has won European certification for the latest addition to its singleaisle family of jets, the longdistance A321XLR, a spokesperson said on Friday. The head of the European Union Aviation Safety Agency EASA handed over the approval on Friday, covering a version of the plane using engines from CFM. Certification of a […]