The latest Business News: breaking personal finance, company, financial and economic news, plus insight and analysis into UK and global markets.

Selfridges Up for Sale, Bidders Include Sovereign Wealth Funds

LONDON — It’s official. Selfridges is exploring a sale, and advisers at Credit Suisse have sent out an information memorandum to potential investors, according to industry sources. The Times of London reported the news on Monday, following an earlier report in June that the company was mulling a sale after being approached by a potential bidder with an offer in […]

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U.S. new home sales hit 14-month low amid supply constraints

WASHINGTON (Reuters) – Sales of new U.S. single-family homes tumbled to a 14-month low in June and sales in the prior month were weaker than initially estimated, the latest signs that expensive lumber and shortages of other building materials were hurting the housing market.FILE PHOTO: A carpenter works on building new townhomes that are still under construction while building material […]

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China moves against private tutoring companies, causing shares to plunge.

Chinese regulators on Monday banned tutoring companies from making profits, a move that sent their shares plummeting, erasing tens of billions of dollars from the value of the country’s once blistering education sector, as Beijing turns its focus to the growing financial burden that students — and their parents — face. Some of China’s biggest publicly listed education companies lost […]

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Monopoly-maker Hasbro revenue surges as TV, film business bounces back

(Reuters) -Toymaker Hasbro Inc posted a better-than-expected 54% jump in quarterly revenue, helped by rising demand for its “Dungeons & Dragons” tabletop game, while its film and television production unit rebounded after a year of pandemic-led shutdowns.Slideshow ( 2 images )Shares rose 2.3% in premarket trading on Monday as the company’s revenue was boosted by its TV production business, which […]

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Why this Businessman Quit Kerala

Is there more than meets the eye to Kitex Garments, the world’s second-largest children’s garment producer, abandoning Kerala for Telangana?Shine Jacob finds out. On July 9, 2021, an aircraft chartered by the Telangana government took off from Kochi airport for Hyderabad with a disgruntled Keralite industrialist on board. This was Sabu M Jacob, promoter and managing director of Kitex Garments, […]

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Toyota led on clean cars, now critics say it works to delay them

(NYTIMES) – The Toyota Prius hybrid was a milestone in the history of clean cars, attracting millions of buyers worldwide who could do their part for the environment while saving money on gasoline. But in recent months, Toyota, one of the world’s largest automakers, has quietly become the industry’s strongest voice opposing an all-out transition to electric vehicles – which […]

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