By David Shepardson WASHINGTON (Reuters) -The U.S. Postal Service said on Friday it was seeking new administrative and legislative reforms as it reported a $9 billion yearly loss, down slightly from the prior fiscal year results. New Postmaster General David Steiner said USPS must be more efficient and that it still has a “significant systemic …
US Postal Service seeks reforms as it reports $9 billion yearly loss Read More »
By Amanda Stephenson (Reuters) -Canadian pipeline operator Enbridge on Friday approved $1.4 billion in expansion projects for its Mainline and Flanagan South pipelines to the U.S., which it stressed is the most logical destination for new crude export capacity out of Canada. The projects will add a combined 250,000 barrels per day of capacity for …
Enbridge approves $1.4 billion project to boost Canadian oil flows to US Read More »
By Anirban Sen NEW YORK (Reuters) -Tiger Global Management, the hedge fund founded and led by Chase Coleman, slashed its stake in Facebook parent Meta Platforms during the third quarter, according to a filing released on Friday. During the quarter ended September 30, Tiger Global reduced its holdings in Meta by 62.6% to 2.8 million of …
(Reuters) -International Paper on Friday said it will shut two U.S. packaging plants by January as the company cuts costs and consolidates operations amid weak demand. The closures will affect facilities in Compton, California, and Louisville, Kentucky, impacting 218 employees. International Paper said production will shift to nearby sites. “The company will work to minimize …
International Paper to close two U.S. packaging plants amid weak demand Read More »
By David Shepardson WASHINGTON (Reuters) -President Donald Trump’s administration said on Friday it was formally withdrawing a plan by his predecessor to require airlines to pay passengers cash compensation when U.S. flight disruptions are caused by carriers. In December 2024, the U.S. Transportation Department under then-President Joe Biden sought public comment on writing rules to …
US drops Biden plan to require passenger compensation for delayed flights Read More »
(Reuters) -A Texas judge on Friday deferred ruling on state Attorney General Ken Paxton’s bid to temporarily block Kenvue from paying a dividend to its shareholders, in connection with his lawsuit over the safety of Tylenol for pregnant women. Judge LeAnn Rafferty in the Panola County courthouse in Carthage, Texas is also considering Paxton’s request …
By Manya Saini (Reuters) -American Bitcoin, backed by two of U.S. President Donald Trump’s sons, swung to third-quarter profit on Friday as the miner and buyer of the world’s largest digital asset benefited from wider margins. Crypto has drawn strong interest this year, with investors betting on looser oversight under the new Trump administration and …
Trump brothers-backed American Bitcoin swings to profit on margin expansion Read More »
(Reuters) -Rio Tinto said on Friday its Kennecott operation in Utah, U.S., has signed a 15-year virtual power purchase agreement with TerraGen to source renewable energy from a new wind farm in Texas. Under the deal, Rio Tinto will buy 78.5 megawatts (MW) of power from TerraGen’s 238.5 MW Monte Cristo I Windpower project, which …
Rio Tinto signs 15-year renewable power deal with U.S. based TerraGen Read More »
By David French NEW YORK (Reuters) -Activist investment firm Kimmeridge Energy Management has taken a stake in U.S. shale producer Devon Energy, according to a stock market filing released on Friday. THE DETAILS Kimmeridge owned 5.66 million shares in Devon as of the end of September, the filing said. That would equate to an approximately …
Activist investor Kimmeridge takes stake in US energy producer Devon Read More »
By Sriparna Roy (Reuters) -Merck will acquire Cidara Therapeutics in a nearly $9.2 billion deal, gaining access to an experimental flu drug in its effort to diversify ahead of patent loss for its blockbuster cancer drug Keytruda. The drugmaker will pay $221.50 per share in cash for Cidara, the companies said on Friday, a premium of …
Merck bets on flu prevention with $9.2 billion deal for Cidara Therapeutics Read More »
