Kohl's First-Quarter Sales Fall as Retailers Struggle With Inflation

Kohl's reported a 5.2% drop in first-quarter sales, the latest major retailer to struggle as inflation saps consumer spending power and raises costs for doing business.

 
McDonald's to Sell Russian Business to Licensee

The fast-food giant said existing licensee Alexander Govor will acquire McDonald's entire restaurant portfolio in Russia and operate the restaurants under a new brand.

 
Spirit Airlines Urges Shareholders to Reject JetBlue Offer

The carrier's board is urging shareholders to instead vote for a tie-up with Frontier, over concerns that a combination with JetBlue would be blocked by antitrust regulators.

 
BJ's Stock is Higher After Earnings. Gasoline Sales Helped Revenue Beat Expectations.

Total comparable club sales for the food retailer increased by 14.4% in the first quarter compared with the same period last year.

 
Boeing Gets Boost With Long-Awaited 737 MAX Deal From British Airways Owner

The plane maker won a key order for 737 MAX aircraft from IAG, in a boost after losing a series of sales from longtime customers to rival Airbus.

 
Fintech Giant Klarna Looks for New Funds at Lower Valuation

The SoftBank-backed buy-now-pay-later startup, valued last year at $46 billion, could see its valuation fall by one-third in a tough environment for technology companies.

 
EDF Cuts Output Estimates, Takes Profit Hit

EDF said it expects an earnings hit of around EUR18.5 billion this year after t lowered its nuclear output estimates due to inspections for stress corrosion at some of its reactors.

 
TSMC Considering Multibillion-Dollar Chip Plant in Singapore

The world's largest contract chip maker is considering building a semiconductor factory in Singapore to help address a global supply shortage.

 
Fintech Lender Upstart Says It Won't Keep Excess Loans on Balance Sheet

Upstart will no longer park loans on its balance sheet that financial institutions aren't interested in buying after its decision to hold on to such loans earlier this year surprised investors, its finance chief said.

 
EasyJet Sees Jump in Bookings as Loss Narrows

easyJet said bookings in the past 10 weeks were 6% above the same period in 2019 and that it remained confident in its plans for the summer, as the airline cut its first-half adjusted loss to GBP545 million.

(END) Dow Jones Newswires

May 19, 2022 09:15 ET (13:15 GMT)

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