Reuters

(Reuters) - Coach handbag maker Tapestry posted third-quarter revenue below Wall Street expectations on Thursday as demand for its handbags and accessories continued to falter in the face of high inflation.

Tapestry's net sales came in at $1.48 billion in the quarter ended March 30, compared to analysts' average estimate of $1.50 billion, according to LSEG data.

The company's proposed $8.5 billion buyout of Michael Kors owner Capri is... (continue reading...)

By Ahmad Ghaddar, Trixie Yap and Shariq Khan

LONDON/SINGAPORE/NEW YORK (Reuters) - Profit margins for diesel are slumping as new refineries boost supplies and as mild weather in the northern hemisphere and slow economic activity eat into demand, putting oil prices under further downward pressure.

The lower refining margins for diesel, one of the world's key industrial and transport fuels, have already prompted some refiners in Asia to... (continue reading...)

SAO PAULO (Reuters) - Brazilian power giant Eletrobras reported late on Wednesday a first-quarter net profit of 331 million reais ($65 million), down 19% from a year earlier as it resumed investments in the transmission segment.

WHY IT'S IMPORTANT

Eletrobras is Latin America's largest utility and has been implementing new strategies after it was privatized in June 2022, when the Brazilian government diluted its stake in the firm in a... (continue reading...)

SEOUL (Reuters) - South Korean President Yoon Suk Yeol called for tax incentives to encourage corporate participation in the government's reform programme as well as detailed measures to improve corporate governance, his office said on Thursday.

Yoon said the "Corporate Value-up Programme" needed to move forward given the high level of interest from domestic and foreign investors.

Yoon also called for measures to minimise any adverse... (continue reading...)

(Reuters) - Robinhood Markets jumped in premarket trading on Thursday after reporting record first-quarter revenue and profit thanks to mom-and-pop investors returning to its commission-free platform to trade cryptocurrencies.

Retail trading has been on the road to recovery since bitcoin and U.S. stocks scaled record highs earlier this year, helped by bets of a soft landing for the economy and expectations of interest rate cuts from the Federal... (continue reading...)