Category: Reuters
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Currencies tread water as Middle East risks temper rate cut optimism By Reuters
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Written by Ray Wee SINGAPORE (Reuters) – The dollar edged up on Tuesday and major currencies traded sideways as lingering concerns over tensions in the Middle East partly overshadowed investor optimism about an imminent U.S. interest rate cut. Geopolitical risks kept early currency moves subdued, although fears of an escalation…
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Edgar Bronfman drops Paramount bid, clearing path for Skydance deal By Reuters
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By Dawn Chmielowski and Anirban Sen (Reuters) – Media mogul Edgar Bronfman Jr. on Monday dropped out of the race to buy Paramount Global, paving the way for Skydance Media to take control of Shari Redstone’s media empire. In a statement, Bronfman said his bidding group informed Paramount’s special committee…
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Kroger case tests FTC Chair Khan’s bid to protect workers By Reuters
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Written by Judy Godoy (Reuters) – Federal Trade Commission Chair Lina Khan’s push to use antitrust laws to protect workers is being tested in a trial that began on Monday as the agency alleges that grocery chain Kroger Inc’s proposed merger with rival Albertsons Inc would crush the bargaining power…
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Elliott lays out its case for leadership change at Southwest Airlines By Reuters
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By Svea Herbst Bayliss NEW YORK (Reuters) – Elliott Investment Management, which now owns about 9.7 percent of Southwest Airlines Co (NYSE: )’s voting power, told investors the company needs new outside leadership for a “better future” but is also prepared to move forward with a planned proxy battle. In…
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Captain of sunken Lynch family yacht put under investigation By Reuters
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ROME (Reuters) – Italian prosecutors have placed under investigation the captain of a luxury yacht that sank off Sicily last week in a storm, killing British technology mogul Mike Lynch and six other people, a judicial source said on Monday. The source said that James Cutfield, a 51-year-old New Zealand…
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Kroger-Albertsons merger hurts shoppers, FTC says at trial By Reuters
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By Judy Goodway, Deborah Bloom PORTLAND, Ore. (Reuters) – The U.S. Federal Trade Commission began a trial on Monday in its attempt to block Kroger’s $25 billion merger with Albertsons, telling a federal judge in Portland, Oregon, that the deal would eliminate competition among major grocery chains and hit consumers’…
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Trintech’s owners explore $2 billion sale of financial software maker, sources say By Reuters
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Milan city win (Reuters) – Private equity firms Summit Partners and Vista Equity Partners are exploring a potential sale of financial software company Trintech, which could value the company at about $2 billion including debt, people familiar with the matter said. Trintech’s owners are working with investment bankers at Deutsche…
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Trudeau says Canada to impose 100% tariff on Chinese EVs By Reuters
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OTTAWA (Reuters) – Canada will impose a 100 percent tariff on imports of Chinese electric vehicles, Prime Minister Justin Trudeau said on Monday. Trudeau told reporters in Halifax, Nova Scotia, that Ottawa will also impose 25% tariffs on steel and aluminum imports from China. The tariffs come just over a…
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Dollar drops against yen but broadly stable after last week’s decline By Reuters
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By Kevin Buckland and Sruthi Shankar TOKYO (Reuters) – The dollar fell to a three-week low against the yen on Monday but halted its recent slide against most other currencies as investors assessed the possibility that the U.S. Federal Reserve will soon begin a series of interest rate cuts. The…
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Militant attacks in Pakistan’s Balochistan kill 39 By Reuters
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Written by Salim Ahmed and Saud Mahsud QUETTA, Pakistan (Reuters) – Separatist militants attacked police stations, railway lines and vehicles on highways in Pakistan’s Balochistan province, killing at least 39 people, officials said on Monday, in the largest attack by ethnic insurgents in years. Militants have waged a decades-long ethnic…
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Meyer Burger halts solar plant in Colorado, plans restructuring By Reuters
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Swiss solar panel maker Mayer Berger said on Monday it had suspended plans to build a factory in Colorado after announcing restructuring measures and indicating profitability would be lower than previously expected. Mayer Berger Technology AG announced today that the planned construction of a solar cell production facility in Colorado…
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Fire at Rivian’s Illinois plant damages multiple EVs, no injuries reported By Reuters
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(Reuters) – U.S. startup Rivian Automotive said on Sunday a fire broke out in the parking lot of its manufacturing facility in Normal, Illinois, late on Saturday, damaging several of its electric vehicles. No injuries were reported and the cause of the fire is under investigation, a company spokesman told…
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Fire at Rivian’s Illinois plant damages multiple EVs, no injuries reported By Reuters
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(Reuters) – U.S. startup Rivian Automotive said on Sunday a fire broke out in the parking lot of its manufacturing facility in Normal, Illinois, late on Saturday, damaging several of its electric vehicles. No injuries were reported and the cause of the fire is under investigation, a company spokesman told…
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Nestle to keep Health Science unit after CEO’s exit, chairman tells paper By Reuters
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(Expand distribution.) ZURICH (Reuters) – Nestle intends to keep its health sciences unit, Chairman Paul Bulcke said in a newspaper interview published on Sunday, after the food giant announced it would replace Chief Executive Mark Schneider with veteran Laurent Frix. The healthcare business is among Nestle units that some analysts…
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Column-US rate shift infects dollar, but prognosis isn’t terminal: McGeever By Reuters
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By Jamie McGeever ORLANDO, Fla. (Reuters) – The dollar has been hit hard by aggressive repricing of U.S. interest rate expectations but it is likely too early to write off the greenback. The dollar is currently at its weakest level this year against a basket of major and emerging market…
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Hezbollah chief says Sunday attack on Israel went as planned, further strikes possible By Reuters
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BEIRUT (Reuters) – Hezbollah leader Sayyed Hassan Nasrallah said on Sunday his group would assess the impact of its missile and drone attack on Israeli military targets earlier in the day before deciding whether to carry out further attacks to avenge its slain commander. The leader of the Lebanese militant…
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China’s yuan set for longest weekly winning streak since 2021 By Reuters
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SHANGHAI (Reuters) – Sterling edged up slightly against the weaker dollar on Friday and looked set for a fifth straight weekly gain, its longest winning streak in more than three years. The yuan was supported by stronger corporate interest in repatriating their foreign exchange earnings on the back of recent…
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Billionaire Adani’s Mumbai slum revamp struggles to secure land in potential setback By Reuters
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Written by Dhwani Pandya MUMBAI (Reuters) – A joint venture led by billionaire Gautam Adani is struggling to secure land to rehabilitate poor residents of one of Asia’s biggest slums in Mumbai, a government official said, posing a fresh challenge to an ambitious reconstruction plan. The Dharavi slum, about three-quarters…
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Billionaire Adani’s Mumbai slum revamp struggles to secure land in potential setback By Reuters
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Written by Dhwani Pandya MUMBAI (Reuters) – A joint venture led by billionaire Gautam Adani is struggling to secure land to rehabilitate poor residents of one of Asia’s biggest slums in Mumbai, a government official said, posing a fresh challenge to an ambitious reconstruction plan. The Dharavi slum, about three-quarters…
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Analysis-After battle with yuan bears, China is now keen to avoid sharp currency gains By Reuters
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SHANGHAI (Reuters) – After spending a year trying to put a floor under the slumping yuan, China’s central bank is suddenly facing the opposite problem and is resorting to underhanded means to prevent the currency from rising sharply. The Chinese yuan, which is usually pegged, rose 1.3% against the dollar…