By Arriana McLymore, Casey Hall and Lisa Barrington NEW YORK/SHANGHAI (Reuters) - The rapid rise of fast-fashion e-commerce retailers such as Shein and Temu is upending the global air cargo industry, as they increasingly vie for limited air-cargo space to woo consumers with rapid transit times, more than ten industry sources said. Shein, PDD...
By Lisa Barrington SINGAPORE (Reuters) - Philippine budget airline Cebu Pacific will decide in May or June whether to choose Airbus or Boeing (NYSE:BA) for an order of more than 100 narrowbody aircraft flagged last year, the carrier\'s CEO Michael Szucs said. Cebu Pacific is deciding whether to choose a combination of Airbus\' A320neo and...
By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks ended lower on Tuesday, with the Nasdaq showing the largest declines as chipmaker Nvidia (NASDAQ:NVDA) stumbled ahead of its highly awaited earnings report, while gains in Walmart (NYSE:WMT) kept losses on the Dow Industrials in check. Shares of the chip designer Nvidia tumbled 4.35%, it\'s biggest daily...
(Reuters) - Copper miner First Quantum Minerals (OTC:FQVLF) reported a net loss for the fourth quarter on Tuesday, as production was hit by the closure of its Cobre Panama mine and it took a charge related to its nickel mining operations. The Cobre Panama project, one of the world\'s largest open-pit copper mines, was forced...
-- U.S. stock index futures fell slightly on late-Tuesday as markets awaited more cues on monetary policy from the minutes of the Federal Reserve’s late-January meeting. Tech stocks remained on the backfoot, with chipmaking heavyweight NVIDIA Corporation (NASDAQ:NVDA) extending losses into aftermarket trade in anticipation of its fourth-quarter earnings, which are due after the market...
By Sameer Manekar and Praveen Menon (Reuters) -Woolworths Group on Wednesday said CEO Brad Banducci will retire after more than eight years at the helm, just as Australia\'s biggest grocer prepares for a public inquiry into suspected price gouging and flags weaker second-half earnings. Banducci, who has been at Woolworths for 13 years, has in...
By Noel Randewich and Caroline Valetkevitch (Reuters) -Amazon is set to join the Dow Jones Industrial Average, replacing Walgreens Boots Alliance (NASDAQ:WBA) effective next week, S&P Dow Jones Indices said on Tuesday. Shares of Amazon (NASDAQ:AMZN) rose 1.3% in extended trade after the announcement, while Walgreens dipped 3%. Adding Amazon will increase consumer retail exposure...
(Reuters) -Qantas Airways said on Wednesday John Mullen (NASDAQ:MULN) will join the company board as chairman-elect from July 1, and replace its outgoing chair Richard Goyder ahead of the Australian flag carrier\'s annual general meeting in October. Mullen is currently the chairman at Treasury Wine Estate as well as independent and non-executive chair at logistics...
TAIPEI (Reuters) - Terry Gou, the billionaire founder of major Apple (NASDAQ:AAPL) supplier Foxconn, made his first high profile appearance in months on Tuesday at the firm\'s 50th birthday, following the ending of his bid for Taiwan\'s presidency late last year. Gou, who stepped down as Foxconn chief in 2019 and resigned as a board...
(Reuters) -Chesapeake Energy beat Wall Street estimates for fourth-quarter profit on Tuesday as the U.S. natural gas producer tackled weak commodity prices with lower operating expenses. Chesapeake shares fell about 2% in aftermarket trading as the company forecast a 20% drop in spending on baseline production this year. Its fourth-quarter shareholder returns also fell sharply...