Business

Telecom Italia shares boosted by brighter signs for business

Telecom Italia (TIM) (TLIT.MI) shares rose more than 5% to hit a four-month high on Thursday after the former phone monopoly flagged some improvement in its battered domestic business despite tough operating conditions. The future shape of TIM, which needs to cut its 25 billion euro of debt, is still to be settled, with boss […]

Business

Chile’s Falabella says looking for suppliers outside China

Chile’s Falabella is looking to expand its supplier network outside China, eying Bangladesh and Vietnam, a top executive for the company said Thursday during a call to discuss third-quarter results. The Chilean retailer on Tuesday reported a third-quarter net loss of 24.87 billion pesos ($25.7 million), down from the 183 billion peso profit seen one […]

Business

Russian weekly consumer prices edge up slightly

Consumer prices in Russia rose slightly for the seventh consecutive week at the start of November, data published on Wednesday showed, as the central bank tries to balance competing inflationary pressures across the economy. Russia’s consumer price index rose 0.01% in the week to Nov. 7, the Rosstat federal statistics service said. That was down […]

Business

Trafigura names new heads of crude, U.S. gasoline

Global commodities and energy trader Trafigura last week named a new head of crude and a head of U.S. gasoline trading, sources familiar with the matter said. Daniel Yuen is moving from Singapore to Trafigura’s main office in Geneva to become head of crude in Europe, replacing Conor McFadden. McFadden is in turn moving to […]

Business

FTX’s Bankman-Fried: Seeking capital raise, talked to Justin Sun

FTX’s Sam Bankman-Fried told staff in a memo that he was seeking a capital raise and had held talks with Justin Sun, founder of the crypto token Tron, although did not want to imply anything about his chances of success. Bankman-Fried said for the next week he would be “conducting a raise” to do right […]

Business

Early holiday shopping boosts October online spending

U.S. consumer spending rose in October as inflation-weary consumers took advantage of early holiday shopping discounts and deals offered by retailers including Amazon.com Inc and Walmart Inc (WMT.N), according to a report. Adobe Analytics reported online spending rose 10.9% to $72.2 billion in October compared with the prior month, but was on par with $72.4 […]

Business

Ralph Lauren beats sales estimates as demand holds up

Ralph Lauren Corp (RL.N) on Thursday topped market estimates for quarterly revenue, as wealthier shoppers unaffected by inflation splurged on the company’s high-end clothing and footwear. Net revenue rose to $1.58 billion for the second quarter, from $1.50 billion a year earlier, compared to analysts’ forecast of $1.56 billion according to Refinitiv IBES data.