Kohl’s names Tom Kingsbury as permanent CEO
Kohl’s says it has named acting CEO Tom Kingsbury as its permanent leader.
Business
Amazon Reports Its First Unprofitable Year Since 2014
Amazon is reporting its first unprofitable year since 2014. NPR reports: Amazon lost $2.7 billion last year, the company said on Thursday. This was despite holiday-season sales growing 9%. Amazon’s shares fell in after hours trading. By far, the bigges…
Apple posts first revenue drop in four years
Facebook parent company Meta bucks trend with better earnings than expected, as Apple sees first profit miss in seven yearsThe A-Team of big tech – Apple, Amazon and Alphabet – all delivered disappointing results on Thursday a day after Facebook owner …
Ofgem warns suppliers over forcible installation of prepayment meters
Directive comes as energy minister expresses ‘horror’ at claims British Gas contractor allegedly broke into vulnerable customers’ homesThe energy minister has expressed “horror” at revelations about a British Gas contractor allegedly breaking into vuln…
Ford 4Q profit drops 90%, company says more cost cuts coming
Ford says its fourth-quarter net income fell 90% from a year earlier.
Shell’s Actual Spending on Renewables is Fraction of What It Claims, Group Alleges
Shell has misleadingly overstated how much it is spending on renewable energy and should be investigated and potentially fined by the US financial regulator, according to a non-profit group which has lodged a complaint against the oil giant. From a rep…
Jo Johnson resigns as director of firm linked to Adani allegations
Former UK PM’s brother quits board of Elara Capital days after it was accused of using funds to manipulate share pricesJo Johnson, the younger brother of the former prime minister Boris Johnson, has resigned as a director of a London-based investment b…
Royal Mail staff to stage 24-hour strike on 16 February
Action is latest move in bitter row between CWU union and company over pay and working conditionsAbout 115,000 postal workers at Royal Mail are to stage a 24-hour strike on 16 February in their continuing dispute with management over pay and conditions…
Major textile factory in Haiti to close plant, lay off 3,500
One of Haiti’s biggest textile factories says it is closing an assembly plant and laying off 3,500 workers in yet another blow to the country’s crumbling economy.
Average long-term mortgage rate falls a fourth straight week
The average long-term U.S. mortgage rate declined for the fourth week in a row, a sign of relative stability that could potentially open the door for some prospective homebuyers to get back in the market.