Walmart cuts annual earnings outlook after drop in second-quarter profits
World’s largest retailer is facing challenges as low-income shoppers struggle in the slowly recovering economy and Amazon becomes increasing competition Walmart Stores cut its annual earnings outlook Tuesday because its profits are being squeezed by currency fluctuations, higher wages and investments in overhauling its US stores. The world’s largest retailer also reported an 11.4% drop […]
Five things sandalwood lovers should know about their favorite fragrance
We like it in our perfumes and household products. But where does sandalwood come from? Long hailed as a remedy for stress as well as skin and digestive disorders, sandalwood oil has been in demand for centuries. People in India and throughout Asia have used sandalwood powder in incense sticks and the wood itself for […]
The stick shift: a love letter to a fun but fading American driving style
A manual transmission may seem demanding for drivers used to automatics, but it boasts real benefits – including a barrier against distracted driving Last August, I flew from Philadelphia to Ft Worth to buy my dream car: a 2002 Jeep Wrangler. TJ model, soft top, cherry red, no rust and, of course, a manual transmission. […]
UK inflation has increased – but don't bank on a rate rise just yet
Though the cost of living figures were stronger than expected, an acceleration in wage growth is far more likely to trigger a hike in borrowing costs The Bank of England says interest rates are going up. Not quite yet, but at some time in the not too distant future, the monetary policy committee thinks the […]
New China stock market plunge prompts global jitters
Devaluation of yuan and Beijing’s moves to halt shares sell-off fails to prevent biggest one-day fall in three weeks for Shanghai Composite Index China’s Shanghai Composite Index plunged more than 6% in its biggest drop in three weeks, amid fears that the recent change in exchange rate policy may accelerate flows of capital out of […]
Wood Group cuts 5,000 jobs amid oil price slump
Services group says conditions challenging with first half profits down 7% The knock on effects of the slump in oil prices has seen more than 5,000 workers at Wood Group lose their jobs since December. Continue reading… Source: The Guardian Circular Economy RSS
Global economy on course for muted growth this year and next, says Moody's
Slowdown in China a major factor but ratings agency says UK growth is ‘robust and broad-based’ despite forecasting pace of expansion slowing to 2.4% The global economy is on course for muted growth this year and next as it faces risks from a slowdown in China, the prospect of higher interest rates in the US […]
Petco looks to harness millennials' pet obsession in third IPO attempt
Company aims to ride ‘pet parent’ wave all the way to Wall Street, saying spending on furry family members is projected to reach $76.6bn this year Petco is hoping pet-loving millennials will fuel its return to the stock market. The pet supplier filed for an IPO on Monday, announcing its third attempt to woo Wall […]
Trouble at the mill threatens Jeff Bezos and Amazon's reputation
The company’s chief executive acted quickly to refute allegations of a brutal work environment, but maybe what his employees need is a trade union A company’s reputation is precious. Once lost, it is mightily hard to recover. Think Gerald Ratner, who once famously described the jewellery he was selling as “crap”. Think BP after the […]
TV shopping giant QVC buys Zulily for one easy payment of $2.4bn
The channel has bought mom-focused online retailer, which started off very strong in 2010 but whose stock was downgraded in recent months QVC, the television shopping channel, has bought the mom-focused online retailer Zulily for $2.4bn. Zulily is a “flash-sale” retailer that sells toys, onesies, lotions and women’s apparel at a steep discount from traditional […]