Category: Business

Michelin will cut fewer jobs in France than the 2,300 estimated in its initial voluntary redundancy plan in a bid to safeguard production. The French tyre maker said in Jan. 2021 it would cut the jobs, including 1,100 in the service sector and 1,200 in factories, over three years as part of a three-year collective […]

Paramount Global (PARA.O) expects its fourth-quarter advertising revenue to be lower than its third quarter advertising revenue, Chief Executive Officer Bob Bakish said at the UBS Global TMT conference on Tuesday.

For much of Wall Street, trading this year has been like riding a wild roller coaster. For thousands of employees of Citadel and Citadel Securities, the hedge fund and trading business founded by Ken Griffin, last weekend was spent riding the real things. Griffin paid out of his own deep pockets for about 10,000 staff […]

Kroger Co (KR.N) said on Tuesday it received a request for additional information from the U.S. Federal Trade Commission as part of the regulatory review process for its planned $25 billion merger with Albertsons Companies Inc (ACI.N). The deal, which was announced in mid-October, has drawn fire from lawmakers and consumer groups amid concerns the […]

Italian fashion group Prada (1913.F), confirmed on Tuesday that it would name former Luxottica chief Andrea Guerra as its new chief executive officer to ease a transition at the helm to the next generation of the founding family. Current CEO Patrizio Bertelli, 76, will be appointed chairman of the luxury company at annual shareholder meeting […]

Russia is considering setting a price floor for its international oil sales as a response to a cap imposed by G7 nations, Bloomberg News reported on Tuesday. Moscow is considering either imposing a fixed price for the nation’s barrels, or stipulating maximum discounts to international benchmarks at which they can be sold, the report added, […]

Canadian economic activity expanded at a faster pace in November and a measure of price pressures cooled, Ivey Purchasing Managers Index (PMI) data showed on Tuesday. The seasonally adjusted index rose to 51.4 in November from 50.1 in October. The Ivey PMI measures the month to month variation in economic activity as indicated by a […]