By Lisa Baertlein and Aishwarya Jain (Reuters) -FedEx narrowed its fiscal 2024 profit forecast on Thursday, raising the bottom end and lowering the top, as cost cuts take hold and share buybacks help[...]
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March 21, 2024
For Nike, ‘it’s gotta be the shoes’ is a thing of the past
By Katherine Masters and Ananya Mariam Rajesh (Reuters) -Nike has increasingly leaned on its iconic basketball shoes to boost sales, but as the sportswear giant bleeds market share to newer brands, so[...]
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Wary of new security law, foreign firms in Hong Kong bolster contingency plans
By James Pomfret and Greg Torode HONG KONG (Reuters) -Vague provisions in Hong Kong’s new national security law around state secrets and links to foreign entities have put on edge many global bu[...]
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Wall Street hits record closing highs on rate-cut optimism; chip sector rallies
By Sinéad Carew and Bansari Mayur Kamdar (Reuters) – Wall Street’s three major stock indexes on Thursday registered record closing highs for the second day in a row after the Federal Reser[...]
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Lululemon warns of slowing North America sales as spending falters
By Annett Mary Manoj (Reuters) -Lululemon Athletica forecast annual revenue and profit below expectations on Thursday as demand wanes for the apparel retailer’s premium athleisure mainly in the[...]
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Microsoft pays Inflection $650 million in licensing deal while poaching top talents, source says
By Krystal Hu and Harshita Mary Varghese (Reuters) -Microsoft has agreed to pay AI startup Inflection about $650 million in cash in an unusual deal that would allow Microsoft to use Inflection’s[...]
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US must speed permits to spur renewable energy growth, execs say
By Liz Hampton HOUSTON (Reuters) -The U.S. government needs to streamline permitting for renewable energy projects, including development of power transmission infrastructure and grid connectivity, to[...]
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Reddit shares end trading up 48% in market debut
By Niket Nishant and Echo Wang (Reuters) – Social media platform Reddit’s shares ended their first day of trading in New York up 48%, signaling that investor appetite for initial public of[...]
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Apple accused of monopolizing smartphone markets in US antitrust lawsuit
By Stephen Nellis, Andrew Goudsward and David Shepardson WASHINGTON (Reuters) -The U.S. Department of Justice and 15 states on Thursday sued Apple as the government cracks down on Big Tech, alleging t[...]
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