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☆ US Thanksgiving weekend sales hit record $38 bln on big discounts - report
▼ + stars: | 2023-11-28 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Shoppers crowd a Walmart store ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. Online consumer spending jumped 7.8% during Cyber Week, or the five days from Thanksgiving through Cyber Monday, according to data from Adobe Analytics, outstripping initial expectations for a 5.4% rise. But blockbuster deals rolled out from Thanksgiving Day through Cyber Monday helped spread the holiday cheer for bargain-hunters. Sales on Cyber Monday jumped a better-than-expected 9.6% to a record $12.4 billion, as shoppers clicked "buy" on Hot Wheels toys, PlayStation 5, smart watches and kitchen appliances. Reuters GraphicsAdobe said discounts peaked at 31% for electronics and at 27% for toys on Cyber Monday, which is typically the biggest online shopping day in the U.S.

Persons: Kamil Krzaczynski, Vivek Pandya, trouncing, Klarna, Deborah Sophia, Juby Babu, Pooja Desai Organizations: Walmart, REUTERS, Adobe Analytics, Deloitte, Adobe Digital, Graphics Adobe, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

☆ US Thanksgiving weekend sales hit record on big discounts, online boost
▼ + stars: | 2023-11-28 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +3 min

More than 200 million shoppers tapped into promotions both in-store and online during the Thanksgiving weekend, the National Retail Federation (NRF) said on Tuesday. That was a jump from the 196 million shoppers seen last year and trumped the trade association's estimates of 182 million. Online shoppers rose 3.1% to 134.2 million, making up for a slight dip in the number of customers who visited brick-and-mortar stores. The weekend saw about 121.4 million in-store shoppers, down from 122.7 million in 2022, according to the retail body. Adobe said discounts peaked at 31% for electronics and at 27% for toys on Cyber Monday, which is typically the biggest online shopping day in the U.S.

Persons: Kamil Krzaczynski, Matthew Shay, Vivek Pandya, trouncing, Klarna, Deborah Sophia, Juby Babu, Pooja Desai Organizations: Walmart, REUTERS, Adobe Analytics, Deloitte, National Retail Federation, Shoppers, Adobe Digital, Adobe, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

☆ Rivian launches leasing for R1T electric pickup truck in some US states
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

R1T is seen outside startup Rivian Automotive's electric vehicle factory in Normal, Illinois, U.S. April 11, 2022. Picture taken April 11, 2022. REUTERS/Kamil Krzaczynski/File Photo Acquire Licensing RightsNov 27 (Reuters) - Rivian Automotive (RIVN.O) on Monday announced the launch of leasing for its R1T electric pickup truck for customers in select U.S. states. The $7,500 federal tax credit for electric vehicle purchases also applies to customers who prefer to lease, boosting demand. Rivian, earlier this month, raised its production forecast for the full year by 2,000 vehicles to 54,000 units on the back of sustained demand.

Persons: Kamil Krzaczynski, Tesla, Harshita Mary Varghese, Shailesh Organizations: REUTERS, Rivian, Monday, Thomson Locations: Normal , Illinois, U.S, California , New York , Florida, Texas

☆ The secret negotiations that led to the Gaza hostages deal
▼ + stars: | 2023-11-22 | by ( Steve Holland | ) www.reuters.com time to read: +8 min

Pictures of hostages held in Gaza, who were seized from southern Israel on October 7 by Hamas gunmen during a deadly attack, are displayed in Tel Aviv, Israel, November 15, 2023. Demands were made that Hamas produce the lists of hostages it was holding, their identifying information, and guarantees of release. Biden held a previously undisclosed phone call with the Qatari prime minister when the phasing of releases began to take shape, the official said. Shortly after Biden's call, Hamas produced details for the 50 hostages it said would be released in the first phase of any deal. Biden in a Nov. 14 call urged Netanyahu to take the deal - Netanyahu agreed.

Persons: Ammar Awad, Joe Biden, Benjamin Netanyahu, Antony Blinken, Bill Burns, Jake Sullivan, Jon, Brett McGurk, Sullivan, McGurk, Josh Geltzer, Mohammed bin Abdulrahman bin Jassim, Biden, Netanyahu, Judith Raanan, Burns, David Barnea, Sheikh Tamim bin Hamad Al Thani, ”, Abbas Kamil, Word, Steve Holland, Don Durfee Organizations: REUTERS, Rights, White, U.S, Israeli, CIA, U.S . Middle East, National Security Council, Hamas, Qatari, Thomson Locations: Gaza, Israel, Tel Aviv, Qatar, Egypt, United States, U.S, Mohammed bin Abdulrahman bin Jassim Al Thani, Sullivan’s, Doha, Cairo, San Francisco, Asia, Lincoln

☆ The Secret Negotiations That Led to the Gaza Hostages Deal
▼ + stars: | 2023-11-21 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +8 min

Five days later, on Oct. 23, the White House team's work helped yield the release of two American hostages, Natalie and Judith Raanan. Demands were made that Hamas produce the lists of hostages it was holding, their identifying information, and guarantees of release. Biden held a previously undisclosed phone call with the Qatari prime minister when the phasing of releases began to take shape, the official said. Shortly after Biden's call, Hamas produced details for the 50 hostages it said would be released in the first phase of any deal. Biden in a Nov. 14 call urged Netanyahu to take the deal - Netanyahu agreed.

Persons: Steve Holland WASHINGTON, Joe Biden, Benjamin Netanyahu, Antony Blinken, Bill Burns, Jake Sullivan, Jon, Brett McGurk, Sullivan, McGurk, Josh Geltzer, Mohammed bin Abdulrahman bin Jassim, Biden, Netanyahu, Judith Raanan, Burns, David Barnea, Sheikh Tamim bin Hamad Al Thani, ”, Abbas Kamil, Word, Steve Holland, Don Durfee Organizations: White, U.S, Israeli, CIA, U.S . Middle East, National Security Council, Hamas, Qatari Locations: Israel, Qatar, Egypt, United States, U.S, Mohammed bin Abdulrahman bin Jassim Al Thani, Tel Aviv, Sullivan’s, Gaza, Doha, Cairo, San Francisco, Asia

☆ There's a wave of pre-IPO startups with pandemic-era price tags stuck in limbo right now
▼ + stars: | 2023-11-21 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

There is a wave of pandemic-era startups stuck in limbo right now. The days of seeing 80% to 100% year-on-year revenue growth are gone, Hussein Kanji from early-stage fund Hoxton Ventures told Business Insider. Hoxton Ventures' Hussein Kanji said the days of companies racking up 100% year-on-year revenue growth are over. Investors tend to assess whether a company is IPO-ready on the rule of 40, which is revenue growth plus EBIT margin. Kanji added: "This is a lesson for a lot of people – if the IPO window opens up, take the company public."

Persons: they're, James Ulan, Klarna, Ulan, Karna's, Hussein Kanji, Morgan Stanley, Kanji, Kamil Mieczakowski, Fabian Heilemann, Graphcore Organizations: Business, Hoxton Ventures, Hoxton, Nvidia, Sequoia Locations: Ulan

☆ The Hidden Hero Fueling Soft-Landing Hopes: A Boost in Supply
▼ + stars: | 2023-11-19 | by ( Nick Timiraos | ) www.wsj.com time to read: 1 min

Workforce participation boosted the labor force in 2023. Photo: KAMIL KRZACZYNSKI/REUTERSFederal Reserve Chair Jerome Powell signaled an important shift this month when he said the central bank didn’t necessarily have to worry about stronger growth feeding through to higher prices. The reason: The U.S. economy’s speed limit, known as potential growth, appears to have temporarily moved up thanks to easing bottlenecks and a boost in the number of people available to work and, possibly, in productivity, or the output that each worker produces.

Persons: KAMIL KRZACZYNSKI, Jerome Powell Organizations: REUTERS

☆ Take Five: Black Friday is (almost) here
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +6 min

REUTERS/Kamil Krzaczynski/File Photo Acquire Licensing RightsNov 17 (Reuters) - U.S. retailers are gearing up for Black Friday, marking the start of the shopping season that follows the Thanksgiving holiday, while business activity data should gauge the temperature elsewhere. 1/ BARGAIN HUNTINGThe crucial holiday shopping season kicks off with Black Friday on Nov. 24 at a time when investors are questioning whether the consumer-driven U.S. economy can remain resilient. This year's Black Friday comes as Americans grapple with soaring interest rates and inflation that, while easing, remains above the Federal Reserve's 2% target. Already, data for October showed U.S. retail sales fell, pointing to slowing demand, although the decline was less than expected. As long as that's not the case, pressure is on the Kishida cabinet since a weak yen is unpopular politically.

Persons: Kamil Krzaczynski, Lewis Krauskopf, Kevin Buckland, Naomi Rovnick, Dhara Ranasinghe, Karin Strohecker, There's, PIMCO, Rishi Sunak, David Cameron, Jeremy Hunt, Hunt, bode, Sergio Massa, Javier Milei, Pragmatist Massa, Prinz Magtulis, Sumanta Sen, Kripa Jayaram, Pasit, Mark Potter Organizations: Walmart, REUTERS, Black, Nvidia, Insider Intelligence, European Commission, PMI, Fed, European Central Bank, Reuters Graphics Reuters, DOWNING STREET, Labour, gilts, Natwest, Reuters, Bank of Japan, Peronist, Thomson Locations: Chicago , Illinois, U.S, Argentina, Lewis, New York, Tokyo, London, Britain, Japan, Egypt, Taiwan, South Africa, India

☆ Highlights of UAW's deals with Detroit Three automakers
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

The logo of Ford is seen on a 2020 Ford Explorer car at Ford's Chicago Assembly Plant in Chicago, Illinois, U.S. June 24, 2019. REUTERS/Kamil Krzaczynski/File Photo Acquire Licensing RightsNov 8 (Reuters) - Workers at Ford's (F.N) Chicago assembly plant have voted to ratify a proposed contract with the automaker, the United Auto Workers (UAW) union's local chapter said on Wednesday. Union workers are voting on contracts from each of Chrysler-owner Stellantis (STLAM.MI), General Motors (GM.N) and Ford after the first coordinated strike against Detroit's Big Three automakers. The ratification comes after the automakers and the UAW reached tentative deals over the last few weeks to end a costly strike following marathon negotiations. Following is a roundup of tentative agreements and demands from the UAW:Source: UAW statementsReporting by Nathan Gomes, Aishwarya Jain and Abhinav Parmar in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Kamil Krzaczynski, Stellantis, Nathan Gomes, Aishwarya Jain, Abhinav Parmar Organizations: Ford, Plant, REUTERS, United Auto Workers, UAW, . Union, Chrysler, General Motors, Detroit's Big, Thomson Locations: Chicago , Illinois, U.S, Chicago, Bengaluru

☆ Rashford sees red as Man United give up two-goal lead to lose in Copenhagen
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +3 min

"The red card changes everything," a beleaguered Ten Hag told TNT Sports. "We controlled the game until the red card. The night marked the first Champions League loss for United in which they led by two or more goals. It was their first defeat after taking a two-goal lead in all competitions since a 5-3 loss to Leicester City in September 2014. The defeat spoiled a feel-good return to Copenhagen for Hojlund, who was born in the Danish capital and whose younger brothers Emil and Oscar both play for Copenhagen.

Persons: Marcus Rashford, Rasmus Hojlund, Erik, Hojlund, Scott McTominay's, Kamil Grabara, Rashford, Elias Jelert, Mohamed Elyounoussi, Harry Maguire's, Diogo Goncalves, Andre Onana, Bruno Fernandes, Lukas Lerager, Rasmus Falk's, Roony Bardghji, Emil, Oscar, Lori Ewing, Toby Davis Organizations: COPENHAGEN, Manchester United, League, FC Copenhagen, United, Hag, TNT Sports, Galatasaray, Bayern Munich, Copenhagen, of, Champions League, Man City, Leicester City, Thomson Locations: Copenhagen, Hojlund

☆ Air New Zealand flags impact to operations from Pratt & Whitney engine issue
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: 1 min

An Air New Zealand Boeing 787-9 Dreamliner plane taxis at O'Hare International Airport in Chicago, Illinois, U.S. November 30, 2018. REUTERS/Kamil Krzaczynski/File Photo Acquire Licensing RightsNov 7 (Reuters) - Air New Zealand (AIR.NZ) said on Tuesday that a change in the servicing schedule of RTX's (RTX.N) Pratt & Whitney engines could significantly impact the airline's services for up to two years. The carrier in October had flagged a nominal financial impact in the first half of 2024 related to the engine issue. Reporting by Archishma Iyer in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Kamil Krzaczynski, Pratt, Archishma Iyer Organizations: Air New Zealand Boeing, O'Hare International, REUTERS, Air New Zealand, Pratt & Whitney, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

☆ Air New Zealand warns of operations impact from Pratt & Whitney engine issue
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

An Air New Zealand Boeing 787-9 Dreamliner plane taxis at O'Hare International Airport in Chicago, Illinois, U.S. November 30, 2018. The carrier in October had flagged a nominal financial impact in the first half of 2024 related to the engine issue. Air New Zealand warned in September the engine inspections would have a "significant" impact on its flight schedule from next year. Air New Zealand added it will have to ground up to four aircraft at any one time due to the engine maintenance issues. The airline has 17 A320/321neo jets in its fleet of 108 aircraft, servicing Australia and the Pacific Island markets and the domestic market in New Zealand.

Persons: Kamil Krzaczynski, Pratt, Whitney, Greg Foran, Archishma Iyer Organizations: Air New Zealand Boeing, O'Hare International, REUTERS, Air New Zealand, Pratt & Whitney, Pratt, Airbus, New Zealand, Air, Pacific, Air New, NZ, Thomson Locations: Chicago , Illinois, U.S, Auckland, Hobart, Seoul, Zealand, Australia, New Zealand, Bengaluru

☆ Shai Gilgeous-Alexander scores 31 as Thunder take down Bulls
▼ + stars: | 2023-10-26 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/45] Oct 25, 2023; Chicago, Illinois, USA; Chicago Bulls forward Julian Phillips (15) arrives at United Center before a basketball game against the Oklahoma City Thunder. Mandatory Credit: Kamil Krzaczynski-USA TODAY Sports Acquire Licensing RightsOctober 26 - Shai Gilgeous-Alexander recorded 31 points and 10 assists to lead the Oklahoma City Thunder to a 124-104 victory over the host Chicago Bulls in the season opener for both teams on Wednesday night. Josh Giddey registered 16 points, six rebounds and six assists for Oklahoma City, which outscored Chicago 45-26 over the final 15-plus minutes. Oklahoma City shot 54.9 percent from the field, including 19 of 39 from 3-point range. Chicago scored the next six points, including DeRozan's basket to open the fourth quarter, to cut its deficit to seven.

Persons: Julian Phillips, Kamil Krzaczynski, Shai Gilgeous, Alexander, Josh Giddey, Jalen Williams, Isaiah Joe, DeMar DeRozan, Zach LaVine, Coby White, Nikola Vucevic, Chet Holmgren, Holmgren's, Cason Wallace, signee Torrey Craig, Joe, Craig, Vucevic, Gilgeous, Wallace, trey, DeRozan Organizations: Chicago Bulls, United Center, Oklahoma City Thunder, Oklahoma City, Chicago, Thunder, Bulls, Chicago . Oklahoma City, NBA, Thomson Locations: Chicago , Illinois, USA, Oklahoma

☆ Manchester United: Harry Maguire and André Onana rescue Red Devils in vital Champions League win against FC Copenhagen
▼ + stars: | 2023-10-25 | by ( George Ramsay | ) edition.cnn.com time to read: +3 min

CNN —Manchester United relied on two unlikely heroes – goalkeeper André Onana and defender Harry Maguire – in a much-needed Champions League victory against FC Copenhagen. Onana's penalty save denied Copenhagen late in the game. The Cameroonian international has made several errors since joining United this season, including in a Champions League defeat against Bayern Munich last month. The penalty save went some way to atoning for those mishaps, and Onana was duly mobbed by his teammates immediately after his heroics. “I’m very pleased, it was a narrow escape as we needed to win,” ten Hag told reporters after the match.

Persons: André Onana, Harry Maguire –, United’s, Sir Bobby Charlton, Charlton, Erik ten Hag, Diogo Gonçalves, Mohamed Elyounoussi’s, Lukas Lerager’s, Onana, Rasmus Højlund, Christian Eriksen, Kamil Grabara’s, Jan Kruger, Alejandro Garnacho, Grabara, United, Maguire, –, Scott McTominay, Jordan Larsson, “ I’m, Hag, Dave Thompson, “ Organizations: CNN, Manchester United, League, FC Copenhagen, Old, United, –, Copenhagen, Cameroonian, Bayern Munich, Champions League, Galatasaray, Bayern, Turkish, Manchester City Locations: Old Trafford, Copenhagen, atoning

☆ Maguire, Onana lift Man Utd 1-0 past Copenhagen for first Champions League points
▼ + stars: | 2023-10-24 | by ( Lori Ewing | ) www.reuters.com time to read: +3 min

"Especially in the dying second when you concede a penalty, but a brilliant save from Andre Onana." But Onana dived to his left to push the shot away before being mobbed by team mates at the final whistle. "I'm just doing my job, the most important thing is to win against a tough team," Onana told TNT Sports. "We are Manchester United. The victory was United's first in the Champions League since a 2-0 away win at Villarreal on Nov. 23, 2021.

Persons: Harry Maguire, Andre Onana, Erik ten Hag, Galatasary, Copenhagen's Jordan Larsson, Henrik, Scott McTominay, Elias Achouri, Onana, I'm, Harry, It's, Maguire, Bobby Charlton, United's, Marcus Rashford, Alejandro Garnacho, Kamil Grabara, Jacob Neestrup, Lori Ewing, Christian Radnedge Organizations: Manchester United, FC Copenhagen, Champions League, Bayern Munich, Celtic, TNT Sports, Villarreal, Argentine, Thomson Locations: MANCHESTER, England, Trafford, Copenhagen's, Copenhagen

☆ Indonesia ruling party's presidential candidate to announce running mate
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

JAKARTA, Oct 18 (Reuters) - The presidential candidate of Indonesia's ruling party will announce his choice of running mate on Wednesday, amid last-minute manoeuvring by the country's political heavyweights to shore up alliances ahead of the 2024 election. The world's third-largest democracy is set to vote in February to replace President Joko Widodo or Jokowi, who has served the maximum two terms allowed. Other possible running mates for Ganjar include Bandung city Mayor Ridwan Kamil, Tourism Minister Sandiaga Uno, and former military chief Andika Perkasa, according to party sources. Former Jakarta governor Anies Baswedan is also running for president but trailing in surveys. Reporting by Ananda Teresia; Writing by Kanupriya Kapoor; Editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Joko Widodo, Ganjar Pranowo, Mahfud, Osman Sapta Odang, Prabowo Subianto, Prabowo, Jokowi's, Gibran Rakabuming Raka, Ridwan Kamil, Sandiaga Uno, Andika Perkasa, Megawati Sukarnoputri, Anies Baswedan, Ananda Teresia, Kanupriya Kapoor, Miral Organizations: Indonesian Democratic Party, Struggle, Central Java, Jokowi, Ganjar, Tourism, Sandiaga, PDI, Former Jakarta, Thomson Locations: JAKARTA, Central, Bandung, Mahfud

☆ US manufacturing output rises solidly in September
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +3 min

Manufacturing output rose 0.4% last month, the Federal Reserve said on Tuesday. Durable goods manufacturing output rose at a 2.3% annualized rate, which was offset by a 2.4% pace of decline in nondurable manufacturing. Motor vehicle and parts output rose 0.3% last month after declining 4.1% in August. Mining output rose 0.4% after gaining 0.2% in August. Overall industrial production rose 0.3% in September after being unchanged in August.

Persons: Kamil Krzaczynski, Lucia Mutikani, Paul Simao Organizations: REUTERS, Rights, Federal Reserve, Reuters, United Auto Workers, UAW, General Motors, Ford, Chrysler, Institute for Supply, Utilities, Thomson Locations: Normal , Illinois, U.S, Kentucky

☆ Wadea Al Fayoume: Palestinian-American boy fatally stabbed near Chicago had just celebrated his 6th birthday
▼ + stars: | 2023-10-17 | by ( Christina Maxouris | ) edition.cnn.com time to read: +6 min

CNN —In the photograph that introduced millions of people to Wadea Al-Fayoume for the first time, the kindergartener is seen celebrating his sixth birthday at his home near Chicago. In his final moments, Wadea offered words of comfort to his mother, a family member revealed Monday. He is in a better place.”Wadea Al-Fayoume seen here in an undated picture. Wadea Al-Fayoume seen here in an undated picture. Mourners surround the casket of Wadea Al-Fayoume being carried by his family out of Mosque Foundation where mourners attended a funeral prayer.

Persons: Wadea, “, ”, – Wadea, –, ” Wadea’s, Yousef Hannon, ” Wadea, Fayoume, Handout, ‘, ’, Wadea “, Ahmed Rehab, Joe Biden, Wadea’s, Hannon, ” Hannon, Hanaan Shahin, Rehab, Kamil Krzaczynski, Shahin, Odey, boy’s, I’m, Jim Vondruska, Reuters Chicago Mayor Brandon Johnson, ” Johnson, Omar Suleiman Organizations: CNN, Office, Chicago, Islamic, ’, West Bank, Rehab, Wadea, Foundation, Reuters Chicago Mayor, Yaqeen Institute, Islamic Research, Southern Methodist University Locations: Chicago, Will, ’ Chicago, United States, America, Bridgeview , Illinois, Jerusalem

☆ Walmart staffed up for holidays; US retailers cautious about economy
▼ + stars: | 2023-10-16 | by ( Siddharth Cavale | ) www.reuters.com time to read: +3 min

"We're staffed and ready to serve the customers this holiday season," Maren Dollwet Wagonner, senior vice-president of people, said in a LinkedIn postlast week. Walmart, like other retail chains, has been cautious in its holiday season outlook, saying customers are stressed by high food prices, depleted savings and higher interest rates. The statement from America's largest private employer with 1.7 million employees offered analysts insight into possible holiday shopping results. Except for Amazon, which plans to hire 250,000 holiday season workers, several other U.S. chains including Macy's have issued muted hiring plans for the period. While U.S. retail job applications are up 46%, job openings are down 25% and actual retail hiring is down by 12% in the year through September, according to talent acquisition company iCIMS.

Persons: Kamil Krzaczynski, sprees, We're, Maren Dollwet Wagonner, Andrew Challenger, Neil Costa, Walmart's, Spencer, Siddharth Cavale, Mark Porter, Richard Chang Organizations: Walmart, REUTERS, Challenger, U.S, Walmart's LinkedIn, Thomson Locations: Chicago , Illinois, U.S, Britain, New York

☆ Walmart's Mexico unit to face anti-trust panel after three-year investigation
▼ + stars: | 2023-10-07 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +2 min

Walmart's logo is seen outside one of the stores ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. REUTERS/Kamil Krzaczynski//File Photo Acquire Licensing RightsMEXICO CITY, Oct 6 (Reuters) - Walmart's Mexico unit said on Friday it will face an anti-trust panel for alleged relative monopolistic practices related to the supply, wholesale distribution and marketing of consumer goods. The allegations follow a three-year investigation by Mexico's antitrust regulator, Cofece, and the company now has 45 days to provide arguments and evidence in its defense. Walmart de Mexico (WALMEX.MX), known as Walmex, was first told in 2020 that it was under review for possible antitrust behavior. The retailer last year posted revenue of more than 819 billion pesos ($45 billion) from its operations in Mexico and Central America.

Persons: Kamil Krzaczynski, Walmex, Cofece, Banorte, Valentine Hilaire, Daina Beth Solomon, Stephen Eisenhammer, Sandra Maler, Edwina Gibbs Organizations: REUTERS, MEXICO CITY, Walmart, Thomson Locations: Chicago , Illinois, U.S, MEXICO, Mexico, Central America

☆ Walmart in Mexico faces anti-trust panel for alleged monopolistic practices
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

Walmart's logo is seen outside one of the stores ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. REUTERS/Kamil Krzaczynski//File Photo Acquire Licensing RightsCompanies Wal Mart de Mexico SAB de CV FollowMEXICO CITY, Oct 6 (Reuters) - Walmart's Mexico unit said on Friday it will face an anti-trust panel for "alleged relative monopolistic practices" related to supply and wholesale distribution of consumer goods. Walmart de Mexico said in a statement that Mexico's antitrust regulator, Cofece, had informed the company of opening a "quasi-jurisdictional process" following a 3-year investigation. Walmex is among the biggest retailers in Mexico, with 2,890 locations in the country. Reporting by Valentine Hilaire and Daina Solomon; editing by Stephen Eisenhammer and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Kamil Krzaczynski, Valentine Hilaire, Daina Solomon, Stephen Eisenhammer, Sandra Maler Organizations: REUTERS, Wal Mart de, SAB, Walmart, Thomson Locations: Chicago , Illinois, U.S, Mexico

☆ EV maker Rivian plans convertible bond sale, forecasts jump in revenue
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

Employees works on an assembly line at startup Rivian Automotive's electric vehicle factory in Normal, Illinois, U.S. April 11, 2022. REUTERS/Kamil Krzaczynski/File Photo Acquire Licensing RightsOct 4 (Reuters) - Electric-vehicle maker Rivian Automotive (RIVN.O) on Wednesday said it plans to sell green convertible bonds worth $1.5 billion and forecast quarterly revenue to rise in line with estimates. Rivian's cash balance as of Sept. 30 was estimated to be at $9.1 billion, down from $10.2 billion in June, it said. The company expects revenue for the three months ended Sept. 30 to be between $1.29 billion and $1.33 billion, compared with nearly $540 million a year earlier. Reporting by Savyata Mishra in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Kamil Krzaczynski, Tesla, Savyata Mishra, Maju Samuel Organizations: REUTERS, Rivian, EV, Thomson Locations: Normal , Illinois, U.S, Irvine , California, United States, Bengaluru

☆ Mueller magic gives Bayern Munich 2-1 win over Copenhagen
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +2 min

COPENHAGEN, Oct 3 (Reuters) - Thomas Mueller came off the bench to set up the winning goal for fellow substitute Mathys Tel as Bayern Munich came from a goal down to beat Denmark's FC Copenhagen 2-1 in their Champions League Group A clash at the Parken Stadium on Tuesday. Bayern did not manage a shot on target until late in the first half as Copenhagen's compact defence neutralised the threat offered by the pace of Kingsley Coman and Leroy Sane on the Munich flanks. Making his 144th appearance in the Champions League, Mueller wasted no time getting involved as he crossed for Leon Goretzka, but the midfielder's header drifted wide of the target. The victory left Bayern top of the group on six points, two ahead of Galatasaray, who beat Manchester United 3-2 at Old Trafford to leave United bottom. Bayern captain Joshua Kimmich paid tribute to both their squad strength and their goalkeeper as they stretched their unbeaten run away from home in the Champions League group stage to 18 games.

Persons: Thomas Mueller, Mueller, Kingsley Coman, Leroy Sane, Viktor Claesson's, Lukas Lerager, Jamal Musiala jinked, Kamil Grabara, Leon Goretzka, Harry Kane's, Jordan Larsson, Eric Choupo, Sven Ulreich, Joshua Kimmich, Kimmich, Philip O'Connor, Toby Davis Organizations: Tel, Bayern Munich, Denmark's FC Copenhagen, Champions League, Danish, Bayern, Galatasaray, Manchester United, Thomson Locations: COPENHAGEN, Tel, Munich, Copenhagen, Old Trafford, United, Ulreich

☆ US manufacturing sector eyes recovery; construction spending solid
▼ + stars: | 2023-10-02 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

A separate report from the Commerce Department showed construction spending increased 0.5% in August after rising 0.9% in July, lifted by outlays on single- and multi-family housing. Spending on private construction projects rose 0.5%, with investment in residential construction advancing 0.6% after increasing 1.6% in the prior month. The construction spending report showed outlays on multi-family housing projects rose 0.6% in August. Spending on new single-family construction projects rose 1.7%. Spending on manufacturing construction projects shot up 1.2%.

Persons: Kamil Krzaczynski, Paul Ashworth, outlays, Freddie Mac, Biden, Lucia Mutikani, Andrea Ricci Organizations: REUTERS, Institute for Supply Management, PMI, North America Economist, Capital Economics, Reuters, United Auto Workers, Treasury, Commerce Department, Thomson Locations: Normal , Illinois, U.S, WASHINGTON, Toronto, Panama, China, United States, State

☆ Walmart changes pay and titles for corporate staff- WSJ
▼ + stars: | 2023-09-30 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

REUTERS/Kamil Krzaczynski/File Photo(Reuters) -Walmart corporate staff are getting new titles and pay packages in the coming weeks to manage labor costs and simplify the structure of the company’s workforce, the Wall Street Journal reported on Saturday. Starting in November, many corporate workers at Walmart and Sam’s Club, its warehouse chain, will be reclassified into fewer groups of possible titles and pay. Base pay and total bonus benefits won’t fall for any workers. Around 4%, or 2,000, will receive an eventual reduction in stock-option awards as part of the change, the report added. Earlier this month, Walmart changed the hourly starting wage structure for entry-level store workers.

Persons: Kamil Krzaczynski, Kim Lupo Organizations: REUTERS, Walmart, Wall Street, Sam’s, Base Locations: Chicago , Illinois, U.S

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