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By Josephine Walker WASHINGTON (Reuters) – A group of 112 Democratic members of Congress on Monday called on U.S. President Joe Biden’s administration to establish heat safety regulations for indoor and outdoor workplaces as a persistent and deadly heatwave spreads across the country. The group asked the Occupational Safety and Health Administration to issue new standards on adequate water and sheltered rest breaks, medical training to identify heat-related illness and […]

PARIS (Reuters) -French spirits group Remy Cointreau on Tuesday reported a fall in first-quarter organic sales, reflecting weaker U.S. demand, high year-ago comparables and destocking, and said it was banking on a sharp rebound in sales in the U.S. from the third quarter. The maker of Remy Martin cognac and Cointreau also stuck to a forecast for flat organic sales and profitability in the full 2023/24 financial year, reflecting a […]

LONDON (Reuters) -Unilever on Tuesday reported better-than-expected underlying quarterly sales growth as the maker of Dove soap and Ben & Jerry’s ice cream again raised prices to make up for higher costs. The British company reported a 7.9% rise in underlying second-quarter sales, beating analysts’ average forecast of 6.4%, a company-provided consensus showed. The company said it expects underlying sales growth for the full year to be above 5%, ahead […]

By Stephanie Kelly and Sudarshan Varadhan (Reuters) -Oil prices edged higher for a third straight session on Tuesday, as signs of tighter supplies and pledges by Chinese authorities to shore up the world’s second-biggest economy lifted sentiment. Brent futures gained 25 cents, or 0.3%, to $82.99 a barrel by 0633 GMT, while U.S. West Texas Intermediate (WTI) crude rose 27 cents, also 0.3%, to $79.01. Both benchmarks settled over 2% […]

By Navya Mittal and Rishav Chatterjee (Reuters) -Australian diversified miner South32 on Monday said it will take an about $1.3 billion one-off charge in fiscal 2023 against its Hermosa project in Arizona, even as the company restored output at most of its operations in the fourth quarter. Mining at South32’s Taylor sulphide deposit in Hermosa has been impacted by operational hazards as well as restrictions due to the COVID-19 pandemic. […]

BERLIN (Reuters) – Germany plans to invest around 20 billion euros ($22.15 billion) in the semiconductor industry in the coming years, the economy ministry said on Tuesday, amid growing alarm over supply chain fragility and dependence on South Korea and Taiwan for chips. The money will be drawn from the Climate and Transformation Fund from 2024 onwards, the ministry said, adding that it could only give funding for individual projects […]

By Helen Reid and Linda Pasquini LONDON (Reuters) – The trend for low-rise rubber-soled “terrace” sneakers could give Adidas and Puma an advantage over Nike this summer, but may not offset weakening U.S. and Chinese demand. German sportswear giants Adidas and Puma have trawled their archives to re-release old styles in new colours, driving renewed interest in the shoes from the 1970s and 1980s named after the standing section at […]

By Clare Jim HONG KONG (Reuters) -Investors piled into Chinese property developers’ shares and bonds on Tuesday following a sharp selloff in the previous session, after policymakers said they would step up support for the embattled sector. Hong Kong’s Hang Seng Mainland Properties Index jumped 12%, while the CSI 300 Real Estate benchmark gained over 7%. Property giant Country Garden and its management unit Country Garden Services, both listed in […]

By Clare Jim HONG KONG (Reuters) -Investors piled into Chinese property developers’ shares and bonds on Tuesday following a sharp selloff in the previous session, after policymakers said they would step up support for the embattled sector. Hong Kong’s Hang Seng Mainland Properties Index jumped 12%, while the CSI 300 Real Estate benchmark gained over 7%. Property giant Country Garden and its management unit Country Garden Services, both listed in […]