Sainsbury’s says not talking to internal candidates for CEO succession

Sainsbury’s says not talking to internal candidates for CEO succession
FILE PHOTO: Shoppers walk past the first ’till-free’ Sainsbury’s store in London, Britain, May 1, 2019. REUTERS/Toby Melville (Reuters) – Sainsbury’s (SBRY.L) is not talking to internal candidates about succession plans to Chief Executive Officer Mike Coupe and he has the full support of company’s shareholders and the board, a company spokesperson told Reuters late on Saturday. The company’s response... Read More

U.S. removes some Chinese furniture, modems from planned 10% tariffs

U.S. removes some Chinese furniture, modems from planned 10% tariffs
FILE PHOTO: Containers are seen at the Yangshan Deep Water Port in Shanghai, China August 6, 2019. REUTERS/Aly Song WASHINGTON (Reuters) – The Trump administration is sparing some Chinese-made household furniture, baby items and internet modems and routers from its next rounds of 10% tariffs, it said on Friday. The U.S. Trade Representative’s office released a complete list of the... Read More

Dollar firms, global stocks soar on ECB rate cut expectations

Dollar firms, global stocks soar on ECB rate cut expectations
NEW YORK (Reuters) – U.S. and European stocks surged on Friday on expectations the European Central Bank will cut interest rates but the dollar pared gains against the euro after a report said the German government was prepared to take on new debt to lift the economy. The dollar hit a two-week high against the euro as expectations of ECB... Read More

U.S. housing market mired in weakness; consumer sentiment ebbs

U.S. housing market mired in weakness; consumer sentiment ebbs
WASHINGTON (Reuters) – U.S. homebuilding fell for a third straight month in July amid a steep decline in the construction of multi-family housing units, but a jump in permits to a seven-month high offered hope for the struggling housing market. FILE PHOTO: Development and construction continues on a large scale housing project of over 600 homes in Oceanside, California, U.S.,... Read More

Deere to slash costs after trade war hits earnings

Deere to slash costs after trade war hits earnings
CHICAGO (Reuters) – Deere & Co. (DE.N) on Friday announced a review of costs after quarterly profits yet again missed Wall Street’s estimates, hurt by bad weather and the U.S.-China trade war that have depressed sales of farm machines. FILE PHOTO: A John Deere combine harvester, with self-driving capabilities and an onboard neural network, is displayed during the 2019 CES... Read More

Take Five: Fed in a hole

Take Five: Fed in a hole
(Reuters) – FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis 1/FED IN A HOLE On Wednesday, the U.S. Federal Reserve releases the minutes of its last meeting, revealing what policymakers said about the flattening Treasury yield curve and the strength of support for July’s quarter-point rate cut. But given... Read More

Oil edges up as recession fears ease but OPEC outlook weighs

Oil edges up as recession fears ease but OPEC outlook weighs
MOSCOW (Reuters) – Crude oil prices rose on Friday, recovering from two days of declines, after data showing a rise in U.S. retail sales helped to ease recession concerns, although a bearish outlook from OPEC capped gains. FILE PHOTO: A wastewater injection well owned by Parsley Energy operates in the Permian Basin near Midland, Texas U.S. August 23, 2018. REUTERS/Nick... Read More

Deere trims earnings forecast on trade war effects

Deere trims earnings forecast on trade war effects
CHICAGO (Reuters) – Deere & Co. (DE.N) on Friday cut its earnings forecast and announced a review of costs after quarterly profits yet again missed Wall Street’s estimates, hurt by bad weather and the U.S.-China trade war that have depressed sales of its farm machines. FILE PHOTO: A John Deere combine harvester, with self-driving capabilities and an onboard neural network,... Read More