(Reuters) -E-commerce group JD.com Inc beat estimates for quarterly revenue as more people shopped on its platform following COVID lockdowns in China, but its CEO was cautious on the outlook due to logistical disruptions and sluggish consumption.

South African grocery and clothing retailer Pick n Pay aims to cut costs by 3 billion rand ($187 million) in the next three years and grow its market share by 3% under a new strategy, CEO Pieter Boone said on Tuesday.

NEW YORK (Reuters) -A gauge of global equity markets rebounded and U.S. Treasury yields rose on Tuesday as an easing of China's crackdowns on tech and COVID-19 and solid U.S. retail sales in April suggested economic growth might be getting stronger.

Production at U.S. factories increased more than expected in April amid continued strong demand for motor vehicles and other goods, which should help to underpin manufacturing activity.

NEW YORK/MUNICH (Reuters) -Germany's Allianz SE agreed to pay more than $6 billion and its U.S. asset management unit will plead guilty to criminal securities fraud over the collapse of its Structured Alpha funds early in the COVID-19 pandemic.

Multinationals that announced their exit from Russia, or suspension of activities there, after Moscow's invasion of Ukraine on Feb. 24, have started to report associated losses.