By David Shepardson WASHINGTON (Reuters) – The Justice Department said on Monday a judge should reject a bid by American Airlines and JetBlue Airways Corp to dismiss an antitrust lawsuit over their “Northeast Alliance” partnership. The lawsuit filed in September by the U.S. government and six states alleges the deal would lead to higher fares …
U.S. says antitrust suit challenging air alliance should advance Read More »
By Nivedita Balu, Anisha Sircar and David Randall (Reuters) – Apple Inc’s market value hovered just shy of the $3 trillion mark on Monday, following a stunning run over the past decade that has turned it into the world’s most valuable company. The company’s shares fell just over 2% on Monday to close at $175.74, …
By Shreyashi Sanyal and Noel Randewich (Reuters) – Wall Street ended lower on Monday, with shares of Carnival Corp and several airlines tumbling as investors worried about the Omicron coronavirus variant ahead of a Federal Reserve meeting later this week. Travel-related stocks fell, with the fast-spreading variant accounting for around 40% of COVID-19 infections in …
Wall Street ends down; investors eye Omicron and Fed meeting Read More »
By Maria Chutchian (Reuters) – One of the Boy Scouts of America’s primary insurers, Chubb Ltd unit Century Indemnity Company, said on Monday it will contribute $800 million to a deal proposed by the youth organization to settle around 82,500 claims from people who say they were sexually abused as children by troop leaders. That …
Boy Scouts secure $800 million from Chubb insurer for sex abuse settlements Read More »
By Arundhati Dutta and Shashwat Awasthi (Reuters) -Australia’s biggest supermarket chain Woolworths Group on Tuesday forecast lower first-half operating income from its domestic food business as easing COVID-19 curbs brought an end to pandemic stockpiling. Shares of the grocer tumbled as much as 10.6% to A$36.26, hitting their lowest level in nearly six months, while …
Australia’s Woolworths sees lower earnings from food unit, shares slide 10% Read More »
(Reuters) -MGM Resorts International said on Monday it would sell the operations of the Mirage hotel and casino in Las Vegas to Hard Rock International for about $1.08 billion in cash. The Mirage opened in 1989 and was acquired by MGM Resorts in 2000. The property is known for its entertainment options and 90-foot Strip-side …
MGM Resorts to sell Mirage hotel and casino for $1.08 billion to Hard Rock Read More »
(This Dec. 10 story corrects to say the trial took place in Tallahassee, Florida) By Nate Raymond (Reuters) – A federal jury on Friday awarded $22.5 million to a U.S. Army veteran who alleged that combat earplugs sold by 3M Co caused him to suffer hearing loss and tinnitus, the biggest verdict yet in massive …
3M hit with $22.5 million verdict in latest U.S. military earplug trial Read More »
By Shariq Khan, David French and Jessica Resnick-Ault (Reuters) – EnCap Investments LP has combined two of its portfolio companies in the Permian basin, creating an oil producer worth more than $4 billion including debt that the private equity firm wants to take public as soon as next year, people familiar with the matter said …
Exclusive-EnCap merges two Permian oil producers in about $4 billion deal -sources Read More »
(Reuters) – U.S. banks have been more proactive than other industries in encouraging employees back to the office, but those plans have come under renewed scrutiny due to the rapid spread of the Omicron variant, with Jefferies Financial Group last week reversing course due to a COVID-19 outbreak among employees. Most major U.S. banks have …
Factbox-U.S. banks tighten COVID-19 precautions as Omicron variant spreads Read More »
By Ross Kerber, Elizabeth Dilts Marshall and Matt Scuffham BOSTON/NEW YORK (Reuters) – Asset management firm Fidelity Investments on Monday said it had paused some voluntary return-to-office plans while Morgan Stanley’s CEO said he expects COVID-19 to be an issue through the next year, in a further sign that America’s financial industry is rethinking its …
Fidelity, Morgan Stanley prepare for continued COVID-19 concerns Read More »
