President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
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Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
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PARIS, July 25 (Reuters) - French supermarket retailer Carrefour reported higher first-half profits and said it was on track with a strategic overhaul aimed at boosting earnings and tackling competition from the likes of Amazon .
Traditional retailers around the world, such as Carrefour, its French rival Casino and Marks & Spencer, are stepping up their online presence to deal with the increase in purchases done over the Internet.
Carrefour, which is Europe's largest retailer, said group operating profits rose 2.6% from the same period last year to 618 million euros ($690 million). This compared with 598 million euros in a Reuters poll of five analysts.
Carrefour had a 282 million euros improvement in cash-flow, while recurring operating profits at its competitive, key home French market rose by 6 million euros to 116 million.
Carrefour is in the middle of a plan by chief executive Alexandre Bompard to cut costs and boost e-commerce investment to increase profits and sales.
"Carrefour is showing a clear improvement in performance, half-year results are growing. This strong momentum is accompanied by an intensification of our transformation plan," Bompard said in a statement.
Carrefour said it was sticking to the financial targets laid out in its 'Carrefour 2022' plan, which also includes expanding into convenience stores to cut its exposure to large hypermarket stores and having more organic products and private labels.
Those targets include a cost-reduction plan of 2.8 billion euros on an annual basis by 2020, having 5 billion euros worth of e-commerce food sales, and the disposal of 500 million euros worth of non-strategic property assets.
Last month Carrefour agreed to sell 80% of its Chinese operations to electronics retailer Suning.com for 620 million euros, and recently agreed to sell its stake in logistics property group Cargo.
Carrefour has sealed a purchasing alliance with Britain's Tesco and it has teamed up with Spanish start-up Glovo to provide a fast home delivery service in France, Spain, Italy and Argentina.
($1 = 0.8962 euros) (Additional reporting by Sudip Kar-Gupta Editing by Jane Merriman/Michel Rose)