Rich Chinese return to Hong Kong as Singapore steps up scrutiny
Hong Kong is winning back wealthy Chinese by rolling out the red carpet for the rich while rival Singapore scrutinizes foreign money.
As 7Elevens Japan Owner Weighs Bid, U.S. Fans Crave Conbini Food
TOKYO, Aug 22 Reuters Seven i Holdings turned the humble 7Eleven store into a popular food destination in Japan by serving up fresh sandwiches, rice balls and rows of boxed lunches, changing how millions of people eat. Five decades after it opened the first store in its home market, the company is on a mission to […]
Walmart Partners with Burger King to Offer Discounted Deals to Members
Aug 22 Reuters Walmart said on Thursday it has partnered with Restaurant Brands39; Burger King to offer discounted meal benefits to its membership customers as the retail giant looks to make its services more attractive to compete better with Amazon39;s Prime. Starting September, Walmart39;s members can avail discounts at Burger King, including 25 off on any digital […]
Peloton Forecasts 2025 Subscriptions below Estimates
Aug 22 Reuters Peloton Interactive forecast 2025 subscriptions below analysts39; estimates on Thursday, anticipating weak demand for its exercise equipment and sluggish subscriber additions as sticky inflation keeps discretionary spending in check. The company said it expects paid connected fitness subscriptions for fiscal year 2025 to be between 2.68 million and 2.75 million, lower than FactSet […]
Germanys Deutsche Bahn seen Cutting DB Cargo Aid after EU Probe
BERLIN, Aug 22 Reuters Germany39;s stateowned Deutsche Bahn could be prevented from financially supporting its lossmaking freight operator DB Cargo following a decision by EU competition regulators, German government and supervisory board sources said. According to the Sueddeutsche Zeitung newspaper the aid would have to stop from next year. A spokesperson for the European Commission […]
Britains JD Sports Reports Sales Rise in Volatile Market
LONDON, Aug 22 Reuters British sportswear retailer JD Sports Fashion reported a 2.4 rise in secondquarter underlying sales, an improvement on the previous quarter, but said it was cautious on its outlook for the rest of the year with the overall market remaining volatile. The FTSE 100listed group, which sells Nike, Adidas, On, HOKA and […]
Ithaca Energy Profit Falls on Impairment Charges, Lower Natgas Prices
Aug 22 Reuters North Sea oil and gas company Ithaca Energy reported a lower net profit for the first half of the year on Thursday, hurt by impairment charges, lower production and a decline in natural gas prices. Ithaca, which in April agreed to buy nearly all Eni39;s UK oil and gas producing assets for about 754 million […]
Swiss Re Reports 17 Rise in net Profit, in Line with Expectations
FRANKFURT, Aug 22 Reuters Reinsurance company Swiss Re said on Thursday that net profit rose 17 in the first six months of the year, roughly in line with expectations, and it maintained its fullyear targets. Earnings got a lift from low claims for natural catastrophe and investment income, Swiss Re said, while its digital whitelabel business […]
Volvo Wins Order for 300 Electric Trucks from DSV
COPENHAGEN, Aug 22 Reuters Sweden39;s AB Volvo said on Thursday it had received an order for 300 electric trucks from Danish logistics firm DSV. The order, one of the largest electric ones for Volvo Trucks to date, represents about 8 of the total 3,800 electric trucks that the Volvo unit has delivered since 2019, it said […]
Deutsche Bank Shares Rise after Postbank Settlements
FRANKFURT, Aug 22 Reuters Deutsche Bank shares rose more than 2 on Thursday after the German lender39;s settlements with more than half the plaintiffs who accused it of underpaying them in its takeover of Postbank in 2010. Deutsche Bank said on Wednesday that it had reached settlements in about 60 of the claims from the plaintiffs, including the […]