(Reuters) -Elliott Investment Management said on Wednesday that it has not engaged with German utility RWE AG about an investment in the company and has not laid out any demands. The hedge fund issued a statement in reaction to a Bloomberg News report, citing unnamed sources, that said Elliott has built a significant investment in …
Hedge fund Elliott says it has not made demands at Germany’s RWE Read More »
(Reuters) – Citi forecasted on Wednesday that U.S. President-elect Donald Trump’s second term could exert downward pressure on oil through 2025, with Brent crude forecasted to average at $60 per barrel, primarily due to potential trade tariffs and increased oil supply. The bank notes that Trump’s influence on OPEC+, which is made up of the …
Trump’s victory may pressure oil prices through 2025, Citi says Read More »
By Akash Sriram (Reuters) -Lyft on Wednesday forecast current-quarter gross bookings above estimates after posting upbeat quarterly sales, indicating steady demand for its ride-hailing services from people returning to workplaces. Lyft shares, which typically see substantial price swings following its quarterly earnings, jumped about 22% in extended trading. As more companies enforce return-to-office policies, workers …
Lyft projects strong fourth-quarter bookings on robust commuter demand, shares jump Read More »
By Nathan Gomes and Zaheer Kachwala (Reuters) -Billionaire Elon Musk stands to benefit greatly from his ties with U.S. President-elect Donald Trump after the Tesla CEO became one of Trump’s most important supporters during the 2024 campaign. Tesla shares closed nearly 15% higher on Wednesday after Trump defeated Vice President Kamala Harris, with the company’s …
Musk’s ties to Trump will reverberate through Tesla, other interests Read More »
(Reuters) – Qiagen reported a rise in third-quarter revenue on Wednesday, owing to strong sales of its diagnostic devices. The company’s third-quarter net sales rose 6% to $502 million at constant exchanges rates (CER), which was above its forecast of at least $495 million CER. Diagnostics firm Qiagen said the sales growth was driven in …
Diagnostics firm Qiagen reports rise in third-quarter revenue Read More »
By Giuseppe Fonte ROME (Reuters) – The United States has recently renewed calls for Italy to repeal its domestic web tax, people familiar with the matter told Reuters, saying the U.S.’ insistence increases the risk of retaliation if Rome ignores the request. Italy intends to maintain the tax for now, waiting for the new administration …
United States renews calls for Italy to scrap its web tax, sources say Read More »
(Reuters) – Coty on Wednesday said it expects annual profit to come in at the low end of its forecast, as weak demand for beauty products in major markets such as the United States and Australia offset gains in the fragrance segment. The beauty industry, mainly in the United States, is witnessing a slowdown in …
Coty sees annual profit at low end of forecast as mass beauty demand slows Read More »
By Nora Eckert DETROIT (Reuters) -Stellantis said on Wednesday it is laying off about 1,100 employees at a Jeep Gladiator plant in Toledo, Ohio, as it works to improve efficiency and reduce inventory across its North American operations. The automaker recently shook up senior management in an attempt to revive slipping sales in the region, …
Stellantis to lay off 1,100 workers at Ohio Jeep plant Read More »
By Jonathan Stempel (Reuters) – The maker of Evian spring water, Danone, won the dismissal of a lawsuit on Tuesday accusing it of defrauding consumers with labels that claim the water is “natural” even though it contains microplastics that seep from the bottle. U.S. District Judge Thomas Durkin in Chicago said the U.S. Food and …
Danone wins dismissal of Evian microplastics lawsuit in Chicago Read More »
(Reuters) -Private equity groups Advent International and Apollo Global are among firms considering a potential buyout of consumer goods company Reckitt’s homecare assets, Bloomberg News reported on Wednesday, citing people familiar with the matter. Britain-based Reckitt announced plans in July to divest its home care portfolio, which includes Air Wick air fresheners and Cillit Bang …
