Puma goes up-market to join forces with Porsche Design

Puma goes up-market to join forces with Porsche Design
A pair of shoes is displayed as sports retailer Puma launches their first sportswear collection in collaboration with Porsche Design in Berlin, Germany February 21, 2019. REUTERS/Annegret Hilse (This February 21 story refiles to give full name of Porsche Design in headline.) BERLIN (Reuters) – Sportswear firm Puma is launching a joint collection with Porsche Design, the fashion and accessories... Read More

Apple teams with Ant Financial, banks for interest-free iPhone financing in China

Apple teams with Ant Financial, banks for interest-free iPhone financing in China
SHANGHAI (Reuters) – Apple Inc has teamed up with Chinese payments giant Ant Financial Services Group and several local banks to offer interest-free financing, its first such move in the country as it looks to boost waning smartphone sales. FILE PHOTO: A new iPhone X is sold at an Apple Store in Beijing, China November 3, 2017. REUTERS/Damir Sagolj/File Photo... Read More

Kraft Heinz forecasts gloomy 2019, writes down value of iconic brands

Kraft Heinz forecasts gloomy 2019, writes down value of iconic brands
(Reuters) – Shares of Kraft Heinz Co slumped 20 percent on Thursday after the food company posted a quarterly loss, disclosed an SEC investigation and wrote down the value of its Kraft and Oscar Mayer brands as it highlighted the tough environment for the packaged food industry. FILE PHOTO – Bottles of Heinz tomato ketchup of U.S. food company Kraft... Read More

Kraft Heinz sees ‘step backwards’ in 2019, gets SEC subpoena

Kraft Heinz sees ‘step backwards’ in 2019, gets SEC subpoena
(Reuters) – Kraft Heinz Co reported disappointing quarterly results, including a $15 billion charge related to the value of its marquee Kraft and Oscar Mayer trade marks, and said it had received a subpoena from the U.S. Securities and Exchange Commission about its accounting practices. FILE PHOTO – Bottles of Heinz tomato ketchup of U.S. food company Kraft Heinz are... Read More

Nike stumbles into social media storm after basketball star’s shoe splits

Nike stumbles into social media storm after basketball star’s shoe splits
NEW YORK (Reuters) – A Nike Inc sneaker worn by a college basketball superstar split in half less than a minute into a highly anticipated game between Duke University and North Carolina, prompting an outcry on social media as the company sought to figure out what caused the malfunction. Zion Williamson, a 6-foot-7-inch freshman forward for the Duke Blue Devils... Read More

Puma goes up-market with joint collection with Porsche

Puma goes up-market with joint collection with Porsche
A pair of shoes is displayed as sports retailer Puma launches their first sportswear collection in collaboration with Porsche Design in Berlin, Germany February 21, 2019. REUTERS/Annegret Hilse BERLIN (Reuters) – Sportswear firm Puma is launching a joint collection with Porsche Design, the fashion and accessories brand owned by the German car company, tapping into demand for premium products just... Read More

Weak U.S. data underscore growing headwinds to economy

Weak U.S. data underscore growing headwinds to economy
WASHINGTON (Reuters) – New orders for key U.S.-made capital goods unexpectedly fell in December amid declining demand for machinery and primary metals, pointing to a sustained slowdown in business spending on equipment that could further crimp economic growth. People look at Deere equipment as they attend National Farm Machinery show in Louisville, Kentucky, February 11, 2016. With U.S. farmers bracing... Read More

Swedish and Estonian watchdogs open joint Swedbank probe

Swedish and Estonian watchdogs open joint Swedbank probe
STOCKHOLM (Reuters) – Sweden’s and Estonia’s financial watchdogs have opened a joint investigation following a media report linking Swedbank to a Baltic money laundering scandal involving Danske Bank, they said on Thursday. FILE PHOTO: Swedbank’s logo is pictured on its Lithuanian headquarters in Vilnius, Lithuania, in this May 10, 2014 file photo. REUTERS/Ints Kalnins/File Photo Danske is being investigated in... Read More

U.S. business spending on equipment weakening

U.S. business spending on equipment weakening
WASHINGTON (Reuters) – New orders for key U.S.-made capital goods unexpectedly fell in December amid declining demand for machinery and primary metals, pointing to a further slowdown in business spending on equipment that could crimp economic growth. People look at Deere equipment as they attend National Farm Machinery show in Louisville, Kentucky, February 11, 2016. With U.S. farmers bracing for... Read More

U.S. core capital goods orders unexpectedly fall in December

U.S. core capital goods orders unexpectedly fall in December
WASHINGTON, Feb 21 (Reuters) – New orders for key U.S.-made capital goods unexpectedly fell in December amid declining demand for machinery and primary metals, pointing to a further slowdown in business spending on equipment that could crimp economic growth. People look at Deere equipment as they attend National Farm Machinery show in Louisville, Kentucky, February 11, 2016. With U.S. farmers... Read More