Business

Ralph Lauren warns resurgence in virus cases could derail recovery

Ralph Lauren Corp RL.N warned on Thursday that a new wave of COVID-19 cases could hurt its sales recovery in North America and Europe, with consumer demand likely to be pressured for the rest of the year. Ralph Lauren’s shares fell 7%, taking the yearly losses to over 40%, as the company also missed second-quarter […]

Business

No. 2 FAA official who ran agency during 737 MAX crisis stepping down

Dan Elwell, the No. 2 official at the U.S. Federal Aviation Administration (FAA) who oversaw the agency during the initial phase of the Boeing 737 MAX crisis, plans to step down, he said. Deputy FAA Administrator Elwell, who was acting administrator from January 2018 through August 2019, made the decision in March 2019 to ground […]

Business

Taco Bell boost helps Yum beat quarterly results

Yum Brands Inc YUM.N posted a smaller-than-expected drop in comparable sales and beat profit estimates on Thursday, helped by strong online sales at its Taco Bell chain as COVID-19 pandemic fears kept customers at home. Fast-food restaurants, including rivals McDonald’s Corp MCD.N and Chipotle Mexican Grill CMG.N, have benefited from earlier digital investments, especially when […]

Business

Airbus to stop burning cash, defends higher output plan

Airbus AIR.PA said on Thursday it expected to stop burning cash in the fourth quarter, giving investors the first glimpse of a path out of the coronavirus crisis after speeding up deliveries to cash-strapped airlines. The European planemaker said the first formal target since it halted annual guidance in April remained intact after France announced […]

Business

Walmart Chile facing supplier suit over allegations it abused market dominance

An association of Chilean food suppliers has sued the local unit of U.S. retail giant Walmart Inc, alleging that the store owner abused its dominant position in the market to impose contracts on providers and set arbitrary prices. The suit, dated Oct. 22 but recently uploaded on the website of Chile’s antitrust court, said the […]

Business

Comcast beats revenue expectations on broadband growth

Comcast Corp CMCSA.O on Thursday reported better than expected third-quarter revenue, as strong sign-ups for broadband offset pandemic-related weakness in its theme park and filmed entertainment businesses. The media giant gained 633,000 broadband subscribers in the quarter, beating analysts’ average estimate of 534,000 net additions, according to research firm FactSet. Comcast has taken a financial […]

Business

Tougher new rules for tech giants, more power to enforcers: EU’s Vestager

Tech giants will have to do more to weed out illegal and harmful content while online gatekeepers will be bound by a list of dos and don’ts under new rules aimed at reining in their power, Europe’s antitrust chief said on Thursday. European Competition Commissioner Margrethe Vestager also proposed new powers for enforcers to tackle […]