Tuesday 24 September 2019

Nike profit, revenue beat as direct selling gains momentum

Nike profit, revenue beat as direct selling gains momentum

Nike Inc's first-quarter revenue and profit beat Wall Street estimates on Tuesday as the sportswear maker's strategy to sell sneakers and apparel directly to consumers through its own stores and online retailers powered growth.

UAW-GM picket lines become 2020 U.S. presidential campaign battleground

Democratic presidential candidate Bernie Sanders is scheduled to join United Auto Workers members on a picket line in Detroit on Wednesday, underscoring the extent to which the longest auto worker strike in nearly 30 years has become a political event.

S&P 500 posts biggest drop in month amid Trump impeachment calls

U.S. stocks fell in volatile trade on Tuesday, giving the S&P 500 its biggest daily drop in a month, as a push for the impeachment of U.S. President Donald Trump gained momentum among Democrats in the U.S. Congress.

As Thomas Cook customers return home, blame game begins

Prime Minister Boris Johnson and unions questioned the part played by Thomas Cook's richly rewarded bosses in the company's demise on Tuesday, and asked why the state had to foot the bill for bringing tens of thousands of tourists home.

Germany offers Thomas Cook's Condor 380 million euro bridging loan

Germany will guarantee a 380 million euro ($418.6 million)bridging loan for Condor, the German airline owned by insolvent British travel operator Thomas Cook, to enable it to continue flying and save jobs, the economy minister said on Tuesday.

Chipotle faces more labor complaints at New York City stores

Chipotle Mexican Grill Inc is facing fresh claims that it violated New York City's labor laws after the city sued the fast casual restaurant chain two weeks ago.

WeWork's Neumann surrenders control, CEO role following investor revolt

WeWork co-founder Adam Neumann agreed on Tuesday to resign as chief executive and give up majority voting control, after SoftBank Group Corp and other shareholders turned on him over a plunge in the U.S. office-sharing start-up's estimated valuation.

Stocks fall as Trump impeachment talk grows; sterling up after Brexit ruling

A gauge of global stocks fell for a third day on Tuesday as a push by some Democrats for the impeachment of U.S. President Donald Trump gained momentum, and the British pound strengthened after the UK Supreme Court ruled Prime Minister Boris Johnson's decision to suspend parliament was unlawful.

Sprint probed over U.S. low-income subsidies; shares slide 3.3%

Sprint Corp received tens of millions of dollars in government subsidies for 885,000 low-income subscribers who were not using the service, the Federal Communications Commission said on Tuesday.

FCA manager charged with lying about emissions even after VW scandal

A grand jury indicted a senior manager at Fiat Chrysler Automobiles NV (FCA) on charges he lied to regulators about diesel emissions, alleging the deception continued even after a scandal over cheating on government environmental tests had engulfed rival Volkswagen AG .

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