The United States and Europe have pummeled Russia with unprecedented sanctions over the past several weeks as Vladimir Putin’s army bears down on Ukraine. But the West has largely left Russia’s largest export untouched: energy. Until now. European Union officials on Tuesday said the bloc would slash imports of Russian natural gas by two thirds…
Kohl’s is under intense pressure from Wall Street raiders and up against stiff competition from Amazon, Target and others. Now it’s hoping that overhauling its brand image can beat back those threats. Kohl’s announced plans Monday to add Sephora mini-shops to roughly 75% of its 1,100 US stores, open 100 new locations at half the…
McDonald’s is temporarily closing its locations in Russia. “McDonald’s has decided to temporarily close all our restaurants in Russia and pause all operations in the market,” CEO Chris Kempczinski said in a statement Tuesday. There were 847 locations of McDonald’s in Russia at the close of last year, according to an investor document. Globally, most…
Better.com, the embattled online mortgage company, announced Tuesday that it’s taking the “difficult step of streamlining” its operations and laying off about one-third of its workforce, amounting to roughly 3,000 jobs. The company, which gained notoriety last year after its CEO fired 900 employees over Zoom just before Christmas, expanded rapidly during the pandemic when…
Nickel prices have soared to all-time highs in the wake of Russia’s invasion of Ukraine, threatening the global transition to electric vehicles. The London Metal Exchange suspended trading in nickel on Tuesday for the first time in its 145-year history after prices doubled in a matter of hours to $100,000 per metric ton. Prices eased…
When I started my career in the late 1990s, only six women had ever broken the proverbial glass ceiling to become CEOs of Fortune 500 companies. This small but mighty group was an inspiration to young women like me just starting their careers, especially considering the uphill battle we faced when it came to gender…
Getting to know new colleagues through a box on your screen while working from home can have its challenges. Recent hires already have a lot on their plates when it comes to making a good impression, but forging relationships with your new co-workers should also be a high priority, even if you’ve never met them…
Stagflation strikes fear into the hearts of economists — and policymakers —the world over. Europe could be headed for something even worse. Western sanctions imposed following Russia’s invasion of Ukraine have caused global energy prices to spike and consumer confidence to plummet in Europe. Russia is being cut off from Western financial markets. Economists expect…
Europe is planning to slash consumption of Russian natural gas this year as it prepares for a complete break with its single biggest energy supplier over the war in Ukraine. EU officials on Tuesday outlined a plan to achieve energy independence from Moscow “well before 2030.” The European Union would start by reducing demand for…
Slimmed down toilet paper, fewer cookies in a bag, less conditioner in squeeze tubes. The changes are subtle and might evade less discerning shoppers. But retail industry experts say we could see more consumer products start shrinking in size or quantity — or both — because of rising costs. Record levels of inflation means households…