By Rishav Chatterjee (Reuters) -Australia’s Lendlease on Monday reported a wider annual loss as the real estate developer grappled with the impact of an operational strategy shift and delays in reviewing the sale of community projects. Lendlease, the country’s largest property developer, builder and real estate investor, is looking to retreat from its overseas construction […]
Hedge funds sell planes, trains, automobiles; buy energy stocks, says Goldman
By Nell Mackenzie LONDON (Reuters) – Hedge funds sold industrial stocks at the fastest pace since December, while buying energy stocks for the fourth straight week last week, a Goldman Sachs note seen by Reuters on Monday showed. Hedge funds last week sold industrial stocks at some of the highest levels seen in five years, […]
Estee Lauder’s long-time CEO Fabrizio Freda to retire
(Reuters) – Estee Lauder said on Monday its long-time CEO Fabrizio Freda had decided to retire from the cosmetic giant next year. Shares of the MAC lipstick maker were up 1% in premarket trading. Freda joined Estee in 2008 as president and chief operating officer and was later named the MAC lipstick maker’s CEO. Estee […]
GM lays off over 1,000 salaried software, services employees
By David Shepardson (Reuters) -General Motors said Monday it is laying off more than 1,000 salaried employees at its software and service units worldwide. GM, confirming the layoffs initially reported by CNBC, said in a statement that “as we build GM’s future, we must simplify for speed and excellence, make bold choices, and prioritize the […]