By David Shepardson WASHINGTON (Reuters) -President Donald Trump agreed to delay tariffs for one month on some vehicles built in North America after a call with the CEOs of General Motors and Ford and the chair of Stellantis, the White House said Wednesday. The automakers had urged Trump to waive 25% tariffs on Mexico and …
Trump will delay some auto tariffs after Detroit Three push Read More »
By Juveria Tabassum (Reuters) -Abercrombie & Fitch joined other U.S. retailers in forecasting weak annual sales growth and warned of softer demand heading into spring for its namesake brand, sending its shares down 14% on Wednesday. The apparel maker said margins would take a hit from higher freight costs and more promotions at the start …
Abercrombie & Fitch deepens retail gloom with tepid forecast, shares drop Read More »
(Reuters) – Amazon.com’s Prime Video will begin offering AI-aided dubbing in English and Spanish on licensed movies and series starting Wednesday, the company said, in a bid to boost viewership and bring its content to more customers worldwide. The artificial intelligence-based dubbing is set to be available on 12 licensed movies and series initially, Prime …
Amazon Prime Video tests AI-based dubbing on licensed movies, series Read More »
By Saeed Azhar NEW YORK (Reuters) – Goldman Sachs named David Dubner as chief operating officer of global mergers and acquisitions, according to a memo seen by Reuters on Wednesday, beefing up leadership in one of its most important businesses. Goldman Sachs has consistently topped the M&A league tables for years, advising on some the …
Goldman Sachs names Dubner as COO global M&A-memo Read More »
(Reuters) – Ally Financial said on Tuesday it had sold $2.8 billion of low-yielding investment securities as part of a repositioning the consumer lender expects will help it modestly increase its interest income going forward. U.S. banks have increasingly rejigged their bond portfolios in recent months, aiming to improve their profitability by reinvesting the proceeds …
Ally Financial sells $2.8 billion of low-yielding securities to bolster balance sheet Read More »
By Kenrick Cai SAN FRANCISCO (Reuters) – Alphabet’s Google launched an experimental version of its search engine on Wednesday that completely eliminates its classic 10 blue links in favor of an AI-generated summary. The new feature, available to subscribers of Google One AI Premium, can be accessed via the results page for any search query …
Google tests an AI-only version of its search engine Read More »
By Neil J Kanatt (Reuters) -Campbell’s Co lowered its annual sales and profit forecasts on Wednesday, signaling weak demand for snacks and intense competition from cheaper private-label brands, sending the company’s shares down 4%. Consumer packaged food companies including PepsiCo and Campbell’s have seen cautious spending from customers, particularly on snacks, after multiple price hikes …
Campbell’s cuts full-year forecasts on weak demand for snacks Read More »
(Reuters) -Arthur J. Gallagher said on Tuesday it would acquire rival Woodruff Sawyer in a $1.2 billion deal, marking the insurance broker’s latest move to expand its business. The deal will bolster Gallagher’s management liability, construction, real estate and cyber offerings and also expand its presence in the West Coast region. Dealmaking activity within the …
Gallagher strikes $1.2 billion deal for rival insurance broker Woodruff Sawyer Read More »
(Reuters) – Consumer health company Kenvue said on Wednesday it had appointed three new directors to its board as part of an agreement with activist investor Starboard Value. The appointments settle over four months of back and forth with the hedge fund since it built a stake in the Band-Aid maker in October, sparking criticism …
Kenvue settles proxy fight with activist Starboard, appoints three directors Read More »
By Shankar Ramakrishnan (Reuters) – Family-owned candy giant Mars announced a eight-part investment-grade bond offering on Wednesday to help finance its takeover of Pringles maker Kellanova, according to a terms sheet, in what is expected to be one of the largest acquisition financing deals this year. Bank of America, BNP Paribas, Citigroup, JP Morgan, Morgan …
Mars announces 8-part bond; headlines big M&A financing week Read More »
