Business
Latest stories
Adidas earnings take beating on breakup with Ye, China slump

Adidas' breakup with the rapper formerly known as Kanye West and the inability to sell his popular Yeezy line of shoes helped batter earnings at the end of last year, leading to a net loss of 513 million euros ($540 million).

The fourth-quarter loss, also attributed to higher supply costs and slumping revenue in China, contrasts with a profit of 213 million euros in the same period a year ago, the German shoe and sportswear maker said Wednesday.

W140 Full Story
French strikers maintain pressure to reject pension plan

French train and metro drivers, refinery workers, garbage collectors and others were holding further strikes on Wednesday against President Emmanuel Macron's plan to raise the retirement age to 64, in efforts to keep up pressure on the government amid the ongoing parliamentary debate.

New protest actions focused on women — and the retirement reform's impact on working mothers — were expected Wednesday, to coincide with International Women's Day. Feminist activists see the pension reform as unfair to women, especially because they say it would further deepen gender inequalities faced during their career.

W140 Full Story
Germany cautious over Nord Stream pipeline attack reports

Germany's defense minister voiced caution Wednesday over media reports that a pro-Ukraine group was involved in blowing up the Nord Stream gas pipelines in the Baltic Sea last year.

German daily newspaper Die Zeit and public broadcasters ARD and SWR reported Tuesday that investigators were able to largely reconstruct how the pipelines from Russia to Germany were sabotaged on the night of Sept. 26, 2022.

W140 Full Story
Lego posts boost in profit, sales as it raised some prices

Lego said Tuesday that profits increased by 5% in 2022 from a year earlier and sales rose even as it raised prices on higher-ticket toys.

The Danish toy company said net profit rose to 13.8 billion kroner ($2 billion) from 13.3 billion kroner. Sales were up 12%, while revenue grew 17% to 64 billion kroner ($9.2 billion).

W140 Full Story
Global shares mixed as investors watch Fed moves, inflation

Global shares were mixed in muted trading Tuesday as investors tried to digest a slew of economic data and awaited moves by the U.S. Federal Reserve.

France's CAC 40 fell 0.1% in early trading to 7,363.24. Germany's DAX added nearly 0.1% to 15,659.63. Britain's FTSE 100 edged up less than 0.1% to 7,931.95. U.S. shares were set to drift higher with Dow futures up nearly 0.1% at 33,470.00. S&P 500 futures rose 0.1% to 4,057.75.

W140 Full Story
China's trade contracts as Western demand weakens

China's trade contracted again in January and February as U.S. and European demand weakened in the face of interest rate hikes, adding to pressure on official efforts to revive economic growth following the end of anti-virus controls.

Exports sank 6.8% from a year earlier to $506.3 billion, an improvement over December's 10.1% decline, customs data showed Tuesday. Imports fell 10.2% to $389.4 billion, deepening December's 7.3% contraction.

W140 Full Story
TotalEnergies says to begin drilling in Lebanon in late September

French oil giant TotalEnergies will begin drilling for potential gas reserves in Lebanon’s offshore Block 9 in late September, a company official said.

W140 Full Story
Oil CEO who will head 2023 climate talks calls for change

A top oil company CEO who will lead international climate talks later this year has told energy industry power players that the world must cut emissions 7% each year and eliminate all releases of the greenhouse gas methane — strong comments from an oil executive.

"Let me call on you to decarbonize quicker," Sultan al-Jaber, CEO of the Abu Dhabi National Oil Co., said at the Ceraweek conference, held in Houston.

W140 Full Story
Wall Street holds steady at the open as rate concerns linger

Stocks are holding relatively steady Monday as Wall Street's worries about higher interest rates and the bond market relax a little.

The S&P 500 was 0.4% higher early Monday after coming off its first winning week in the last four. The Dow and the Nasdaq also rose. Treasury yields eased lower.

W140 Full Story
Unions vow to shut France's economy down amid pension battle

Roads blocked, oil refineries disrupted, planes grounded and trains halted — unions are threatening to shut down France's economy this week in what they hope is their toughest riposte yet to President Emmanuel Macron's plan to raise the retirement age.

The first actions are expected Monday, as truckers are being urged to block major highway arteries and interchanges in go-slow actions dubbed ''escargot'' operations. Unions plan an open-ended strike on the national rail service starting Monday evening.

W140 Full Story