Fossil CEO says turnaround is ahead of plan as sales return to growth
Fossil Group returned to profitability and sales growth in its latest quarter, with CEO Franco Fogliato indicating the turnaround is progressing faster than anticipated.
Nissan reduces petrol car production as EV sales boom in China
Nissan has reduced sales forecasts for China and is shifting production away from petrol cars toward electric and hybrid vehicles due to accelerating EV demand and intensifying competition in the world’s largest automotive market.
Poundland owner extracted millions when chain was on ‘knife-edge’, MPs say
Poundland’s owner Gordon Brothers faces scrutiny over extracting millions from the budget retailer while seeking court protection to extend restructuring negotiations ahead of a potential rescue deal.
Qantas to cut 850 Australian jobs and outsource work to India under AI-driven overhaul
Qantas will cut 850 Australian jobs and outsource work to India through an AI-driven partnership with Accenture, marking the third major Australian corporate layoff announced in recent weeks.
US inflation rose 0.4% in October as price increases cooled and gas costs dipped
US inflation rose 0.4% from September to October, with gas prices declining and overall price increases moderating despite elevated energy costs from geopolitical tensions.
Bank of England’s inflation response ‘risks higher interest rates for longer’
The Bank of England’s modest interest rate increase risks prolonging elevated inflation above its 2% target until at least 2030, according to a leading economic thinktank’s critique.