By Bloomberg and Sapa-AP
United States job losses mounted on Friday as employers in nearly every sector slashed 40 000 positions.
Circuit City Stores, a speciality retailer, said that it was liquidating, closing all its US stores and cutting 30 000 jobs, while rental car company Hertz Global said it was eliminating 4 000 jobs across the world, as families and business travellers forgo trips.
Starbucks will close 600 US coffee shops and eliminate as many as 12 000 jobs, the most in its history, as chief executive Howard Schultz slows the chain’s expansion after it doubled in size in four years.
Filed under: International Company News
Tesco delivered a record £2.8 billion (R43.4 billion) annual profit and had made a strong start to its new financial year, driving up its shares, the world’s third-biggest food retailer said yesterday.
Filed under: International Company News
Iliad Africa has bought a chain of nine tile retail outlets, the building materials distributor’s first foray into a market dominated by Italtile.
Filed under: International Company News
Australia’s Woolworths has forecast profit growth above 20 percent for the third consecutive year as it wins grocery market share from Coles Group and boosts savings from an efficiency programme.
Filed under: International Company News
Wal-Mart Stores yesterday reported a lower-than-expected quarterly profit and cut its annual earnings forecast
Filed under: International Company News
Rising affluence and rosy job prospects are forecast to fuel retail sales across the Asia-Pacific region in the second half of this year, according to a MasterCard survey.
Filed under: International Company News
Deutsche Bank, JPMorgan Chase and UniCredit had cancelled the sale of £1 billion (R14.5 billion) of loans for Alliance Boots after failing to find investors, two people with direLondon – Deutsche Bank, JPMorgan Chase and UniCredit had cancelled the sale of £1 billion (R14.5 billion) of loans for Alliance Boots after failing to find investors, two people with direct knowledge of the deal said on Friday.
Filed under: International Company News
J Sainsbury would urge Delta Two, a Qatar-backed investment fund bidding for the UK retailer, to increase the amount of equity in its £10.6 billion (R154 billion) offer this week, the Sunday Telegraph said yesterday, citing an executive close to the Sainsbury board.
Filed under: International Company News
Delays in financing the takeover of Alliance Boots had placed a “moratorium on large-scale leveraged buyouts” that might weigh on European stocks, a UBS strategist said yesterday.
