Reuters US Business

(Reuters) – Lyft shares slumped about 9% on Wednesday after the ride-hailing company warned that lower pricing trends from late last year are expected to continue in 2025, as it tries to match prices with larger rival Uber. The ride-hailing platform has been aggressively working on luring customers and drivers onto its platform by keeping …

Lyft shares slide as lower pricing trends persist amid competition with Uber Read More »

(Reuters) -The U.S. consumer price index increased more than expected in January, reinforcing the Federal Reserve’s message that it was in no rush to resume cutting interest rates amid growing uncertainty over the economy. The CPI jumped 0.5% last month after gaining 0.4% in December, the Labor said on Wednesday. In the 12 months through …

Hot Jan US CPI surprise argues for Fed staying in neutral Read More »

(Reuters) -Kraft Heinz forecast annual profit below estimates and missed quarterly sales estimates on Wednesday, as the packaged food maker struggles with sluggish demand for its products such as Lunchables and packaged meat following price hikes. The fourth straight quarter of revenue miss pushed the company’s shares down about 5% in premarket trading. Packaged food …

Kraft Heinz forecasts bleak annual profit as higher prices hamper demand recovery Read More »

(Reuters) -Spirit Airlines on Tuesday rejected Frontier Group’s revised acquisition offer, worth about $2.16 billion, saying the bid from its fellow ultra-low-cost carrier was less beneficial to shareholders than its ongoing reorganization plan. Frontier’s fresh offer was a reiteration of its proposal from earlier this month, in which it had proposed that Spirit’s shareholders would …

Spirit Airlines rejects Frontier Group’s revised acquisition offer Read More »

By Melanie Burton MELBOURNE (Reuters) -BHP, the world’s biggest listed mining company, said on Wednesday that former National Australia Bank CEO Ross McEwan would be its new chairman, replacing Ken MacKenzie, who will step down on March 31. In his new role, McEwan is expected to be tasked with overseeing the selection of BHP’s next …

BHP names Ross McEwan to replace Ken MacKenzie as chairman Read More »