Monday, January 18

business

Colgate reviewing Chinese toothpaste brand Darlie amid debate on racial inequality

Colgate reviewing Chinese toothpaste brand Darlie amid debate on racial inequality

business
FILE PHOTO: The corporate logo of Colgate Palmolive is seen on a tank at the facilities of the company in Valencia, Venezuela, August 16, 2017. Picture taken August 16, 2017. REUTERS/Andres Martinez CasaresLONDON (Reuters) - Colgate-Palmolive (CL.N) on Thursday said it was working to review and evolve its Chinese toothpaste brand, Darlie, the latest in a string of brand reassessments amid a U.S. debate on racial inequality. Darlie is a Chinese brand owned by Colgate and its joint venture partner Hawley & Hazel. “For more than 35 years, we have been working together to evolve the brand, including substantial changes to the name, logo and packaging. We are currently working with our partner to review and further evolve all aspects of the brand, including the brand name,” a spokesman t
Australian regulator says Google’s $2.1 billion Fitbit deal could harm competition

Australian regulator says Google’s $2.1 billion Fitbit deal could harm competition

business
SYDNEY/BENGALURU (Reuters) - Australia’s antitrust regulator warned Google’s planned $2.1 billion acquisition of fitness tracker maker Fitbit (FIT.N) may give it too much of people’s data, potentially hurting competition in health and online advertising markets. FILE PHOTO: Fitbit Blaze watch is seen in front of a displayed Alphabet logo in this illustration picture taken November 8, 2019. REUTERS/Dado RuvicThe Australian Competition and Consumer Commission (ACCC) is the first regulator to voice concerns about the deal, which come at a time when the Alphabet Inc (GOOGL.O)-owned tech giant is at loggerheads with the Australian government over planned new rules about how internet companies use personal information. “Buying Fitbit will allow Google to build an even more comprehensive set of
U.S. lawmaker says seeking bipartisan legislation on airline mask rules

U.S. lawmaker says seeking bipartisan legislation on airline mask rules

business
FILE PHOTO: A Southwest Airlines Co. employee wears a protective mask while assisting a passenger at Los Angeles International Airport (LAX) on an unusually empty Memorial Day weekend during the outbreak of the coronavirus disease (COVID-19) in Los Angeles, California, U.S., May 23, 2020. REUTERS/Patrick T. Fallon(Reuters) - A U.S. senator said on Wednesday he was hoping for bipartisan support in Congress for mandatory rules on masks for air travel after the head of the Federal Aviation Administration again resisted calls for a mandate. While most U.S. airlines are now requiring that passengers wear masks, the Department of Transportation (DOT) has not issued any rules. Speaking at a Senate Commerce Committee hearing on aircraft certification, FAA Chief Steve Dickson said the DOT and the ...
Dollar treads water on Fed views, geopolitics

Dollar treads water on Fed views, geopolitics

business
LONDON (Reuters) - The dollar was little changed on Wednesday after U.S. retail sales rose more than expected in May, although caution kept investors from aggressively buying riskier currencies like the Australian dollar. FILE PHOTO: U.S. Dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File PhotoU.S. Federal Reserve Chairman Jerome Powell doused some of the market’s optimism on Tuesday with a rather bleak picture of the U.S. economy, while also reinforcing hopes for continued policy support. Discouraging news over the past 24 hours — record-high coronavirus infections in six U.S. states, clashes between Indian and Chinese troops in the western Himalayas and new coronavirus cases in Beijing — also undermined sentiment. A
Why some black-owned U.S. businesses are hardest hit by coronavirus shutdowns

Why some black-owned U.S. businesses are hardest hit by coronavirus shutdowns

business
WASHINGTON/NEW YORK (Reuters) - After 15 years working as a hair stylist in other people’s salons, Gary Connell opened his “Healthy Hair” studio in Montgomery County, Maryland in early March, sinking his savings into a two-chair shop in a busy mall. It hadn’t even been up and running for a full month when stay-at-home orders were issued because of the novel coronavirus, shutting down the mall. Connell, 57, went two months with no income before Maryland loosened restrictions in early June, allowing him to take a limited number of clients. He couldn’t access the federal government’s small business loan program, or get unemployment insurance. His situation isn’t unusual. U.S. black-owned small businesses are highly concentrated in retail, restaurants and other service industries mo
Renault to cut 1,500 engineering jobs in France: union source

Renault to cut 1,500 engineering jobs in France: union source

business
FILE PHOTO: A logo of Renault carmaker is pictured at a dealership in Nantes, France, May 26, 2020. REUTERS/Stephane MahePARIS (Reuters) - French carmaker Renault (RENA.PA) plans to cut 1,500 engineering jobs in France, a trade union source told Reuters on Tuesday. The engineering job cuts are part of cost savings plans that Renault announced last month aiming to find 2 billion euros ($2.27 billion) in savings over the next three years. Renault declined to comment. The carmaker had planned to cut 15,000 jobs worldwide, including 4,600 in France. Renault shares were up 5.66% at 1118 GMT. Reporting by Gilles Guillaume; writing by Matthieu Protard; editing by Jason NeelyOur Standards:The Thomson Reuters Trust Principles.
Oil prices ease as coronavirus infections rise

Oil prices ease as coronavirus infections rise

business
TOKYO (Reuters) - Oil prices dipped on Tuesday on jitters that a rise in coronavirus infections around the world could hurt fuel demand, but hopes that production cuts could be extended kept declines in check. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Picture taken November 22, 2019. REUTERS/Angus MordantBrent crude was down 14 cents, or 0.4%, at $39.58 a barrel at 0027 GMT, having gained 2.6% on Monday. U.S. oil fell 24 cents, or 0.7%, to $36.88 a barrel, after closing 2.4% higher in the previous session. Coronavirus cases rose to more than 8 million worldwide by Monday, with infections surging in Latin America, while the United States and China are dealing with fresh outbreaks. “Renewed optimism that
GE picks Embraer planemaking chief to run aviation unit

GE picks Embraer planemaking chief to run aviation unit

business
(Reuters) - General Electric Co (GE.N) on Monday tapped the planemaking head of Brazil’s Embraer (EMBR3.SA) to run its key aircraft engines division on Monday, as the global aviation industry grapples with disruption caused by the COVID-19 pandemic. FILE PHOTO: Embraer's commercial aviation chief John Slattery (C) talks to Reuters during the International Air Transport Association (IATA) meeting in Cancun, Mexico June 5, 2017. REUTERS/Victor Ruiz GarciaIrishman John Slattery, 51, succeeds influential veteran David Joyce, retiring after 40 years with the U.S. conglomerate. The appointment comes weeks after the collapse of a planned aerospace alliance between Embraer and Boeing Co (BA.N), which Slattery had defended, and marks what one observer referred to as a shift of culture as the indus
Exclusive: Mexico’s oil hedge to be pricier, but government likely doing it anyway

Exclusive: Mexico’s oil hedge to be pricier, but government likely doing it anyway

business
NEW YORK/MEXICO CITY (Reuters) - Mexico will have to pay more for less coverage under its giant oil revenue insurance policy for 2021, but will likely go ahead anyway to avoid further damaging its financial standing with international investors, sources said. FILE PHOTO: General view shows Mexican state oil firm Pemex's Cadereyta refinery, in Cadereyta, on the outskirts of Monterrey, Mexico April 20, 2020. REUTERS/Daniel BecerrilThe finance ministry’s billion-dollar oil hedge is the world’s largest. It has been a pillar of the budget for more than two decades for Mexico, which pumps about 1.7 million barrels per day of crude. The policy ensures Mexico can sell oil at a predetermined price, guaranteeing a portion of revenues crucial for the state budget - no matter what happens in the glo
Systemic racism slows economic growth: Dallas Fed chief Kaplan

Systemic racism slows economic growth: Dallas Fed chief Kaplan

business
FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks at the Commonwealth Club in San Francisco, U.S., October 11, 2019. REUTERS/Ann SaphirWASHINGTON (Reuters) - Systemic racism and high unemployment levels among black and Hispanic Americans create a drag on the U.S. economy, Dallas Federal Reserve President Robert Kaplan said on Sunday. “A more inclusive economy where everyone has an opportunity will mean faster workforce growth, faster productivity growth and will grow faster,” Kaplan said on CBS’ “Face the Nation.” Kaplan said he agreed with his counterpart at the Atlanta Federal Reserve Bank, Raphael Bostic - the Fed’s only African-American policymaker - who on Friday called for an end to racism and laid out ways the U.S. central bank can help. The comments by the Fe