Updated - Squid Business

Foot Locker to step into India, inks deals with Metro Brands, Nykaa

By Hritam Mukherjee BENGALURU (Reuters) -Foot Locker will enter the Indian market in 2024 in partnership with local peer Metro Brands and cosmetics-to-fashion retailer Nykaa, the U.S.-based athleisure chain said on Wednesday, giving it a much wider global footprint. Metro Brands, which has over 700 stores across India, will exclusively own and operate Foot Locker …

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Gold steadies near 7-month peak on Fed rate cut bets

By Anushree Ashish Mukherjee (Reuters) – Gold firmed near its highest in about seven months on Wednesday as expectations that the U.S. Federal Reserve may cut interest rates by the first half of next year boosted the outlook for the zero-yield precious metal. Spot gold was up 0.1% at $2,043.94 per ounce by 3:44 p.m. …

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Dollar rises from 3-1/2-month low; rate cut bets intact

By Gertrude Chavez-Dreyfuss and Herbert Lash NEW YORK (Reuters) – The dollar climbed from more than three-month lows on Wednesday after data showing the U.S. economy grew faster in the third quarter than initially reported helped investors consolidate positions following four days of losses. The greenback rose against the euro and an index of six …

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Exclusive-India scrambles to add coal-fired power capacity, avoid outages – sources

By Sarita Chaganti Singh NEW DELHI (Reuters) – India aims to add 17 gigawatts of coal-based power generation capacity in the next 16 months, its fastest pace in recent years, to avert outages due to a record rise in power demand, according to government officials and documents. The expansion drive comes ahead of this week’s …

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Oil prices gain near 2% on expectations of deeper OPEC+ cuts

By Shariq Khan BENGALURU (Reuters) – Oil prices rose more than $1 a barrel on Wednesday as investors focused their attention on expectations of fresh supply cuts from OPEC+ and looked past a jump in U.S. crude, gasoline and distillate stockpiles. Brent crude futures advanced by $1.42, or 1.7%, to settle at $83.10 a barrel, …

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Analysis-Nikki Haley’s getting buzz, but faces tough math to beat Trump

By James Oliphant and Alexandra Ulmer WASHINGTON (Reuters) – Nikki Haley is having a moment: The 2024 Republican presidential candidate is seeing a swell in media coverage, new interest from big-dollar donors and increasing chatter that she is poised to make a real run at Donald Trump. But there is buzz, and there is reality. …

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GM sees $9.3 billion hit from labor deals, outlines $10 billion buyback

By David Shepardson (Reuters) -General Motors said on Wednesday its new labor deals after a lengthy U.S. strike will cost it $9.3 billion even as it outlined $10 billion in share buybacks, a 33% dividend increase and “substantially lower” spending at its robotaxi unit Cruise. The buyback is the equivalent at Tuesday’s closing price to …

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Uber tries to win over London black cabs

LONDON (Reuters) -Uber will open up its platform to London’s black cabs next year, the ride-hailing firm said on Wednesday, trying to win over the British capital’s taxis after a decade of tensions. London’s black cab drivers – who have to pass a test called “The Knowledge” requiring them to memorise thousands of routes within …

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Walmart shifts to India, cuts China imports

By Richa Naidu and Siddharth Cavale LONDON/NEW YORK (Reuters) – Walmart is importing more goods to the United States from India and reducing its reliance upon China as it looks to cut costs and diversify its supply chain, data seen by Reuters shows. The world’s largest retailer shipped one quarter of its U.S. imports from …

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FTSE 100 slips for the third day as financials weigh

By Shashwat Chauhan and Khushi Singh (Reuters) -Britain’s FTSE 100 slipped for the third straight day on Wednesday following hawkish comments from Bank of England Governor Andrew Bailey, while insurance heavyweights Aviva and Prudential fell after bearish brokerage comments. The blue-chip FTSE 100 index dipped 0.4% and the domestically-focussed mid-cap index added 0.4%. Bailey said …

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