A standoff in Washington over raising the U.S. debt ceiling overshadowed a meeting of Group of Seven (G7) finance leaders starting on Thursday, heightening U.S. recession fears as central banks seek a soft landing for the global economy.
Sales at Italian luxury group Prada rose 22% in the first quarter, to 1.065 billion euros ($1.17 billion), driven a rebound in China and sustained growth in Europe.
The world’s second largest aircraft lessor, SMBC Aviation Capital, has warned that India’s decision to block leasing firms from reclaiming Go First planes will jolt the market and spark a confidence crisis, legal papers show.
Swedish electric vehicle (EV) maker Polestar said on Thursday it had lowered its 2023 production guidance and would cut headcount by 10%, citing a delayed production start for its Polestar 3 and a challenging environment for the industry.
Shares of WW International Inc , also known as WeightWatchers, slumped more than 12% before the bell on Thursday after the weight-loss program operator said its top shareholder Artal Group S.A. had sold its remaining stake in the company in a block trade.
New Chinese bank loans tumbled far more sharply than expected in April, adding to worries that the economy’s post-pandemic recovery is losing steam and putting pressure on the central bank to ease policy.
Shares of PacWest Bancorp slumped 25% premarket on Thursday as the bank pledged additional assets as collateral to increase its borrowing capacity under the U.S. Federal Reserve’s discount window and said it had $15 billion of immediately available liquidity.
Tapestry Inc raised its annual profit forecast on Thursday, betting that price increases and strong demand for its Coach handbags would help cushion a slowdown in luxury purchases in the United States.
