Reuters US Business

By Juveria Tabassum and Waylon Cunningham (Reuters) -Starbucks reported a smaller-than-expected fall in first-quarter comparable sales on Tuesday, in early signs of the struggling coffee chain benefiting from CEO Brian Niccol’s efforts to revive demand. The company’s shares rose 0.5% in extended trading. They have gained nearly 30% since his appointment in August last year. …

Starbucks’ better-than-expected results point to turnaround taking root Read More »

By Scott Murdoch SYDNEY (Reuters) -Australia’s Sigma Healthcare shareholders approved in a vote on Wednesday a merger with Chemist Warehouse to create an A$8.8 billion ($5.50 billion) pharmacy and retailing giant. More than 99% of proxy shareholders voted in favour of the deal, according to a company presentation made at the meeting in Melbourne. The …

Australia’s Sigma shareholders approve $5.5 billion Chemist Warehouse merger Read More »

By David Shepardson WASHINGTON (Reuters) -A U.S. appeals court on Tuesday blocked the Biden administration’s 2024 rule requiring upfront disclosure of airline service fees, saying the Transportation Department had not complied with procedural rules. The court ruling said the department had authority to write fee disclosure rules that specifically address “unfair or deceptive practices being …

US court blocks Biden administration’s airline fee disclosure rule Read More »

By Sabrina Valle (Reuters) -Beacon Roofing Supply on Tuesday adopted a poison pill defense to prevent a $11 billion hostile takeover by billionaire entrepreneur Brad Jacobs through his company QXO. The defense strategy creates a roadblock for Jacobs’ attempt to become a big player in building products distribution through QXO, which Jacobs created in 2023 …

Beacon seeks to fend off QXO’s hostile takeover with poison pill Read More »

(Reuters) -Australia’s Whitehaven Coal posted a 92.7% rise in its second-quarter production on Wednesday, aided by strong contributions from its New South Wales mines and Queensland mines, while remaining optimistic of future gains from metallurgical coal prices due to supply constraints. Whitehaven anticipates that the long-term production depletion of hard coking coal from Australian producers, …

Australia’s Whitehaven Coal rises on strong second quarter output Read More »

By Andre Romani and Marta Nogueira SAO PAULO/RIO DE JANEIRO (Reuters) -Brazilian miner Vale posted on Tuesday its highest annual iron ore production since 2018, even after a decline in output in the fourth quarter when the company prioritized higher-margin products. One of the world’s largest iron ore suppliers, Vale’s production of the steel ingredient …

Vale posts highest annual iron ore output since 2018 despite fourth-quarter slide Read More »

By John Biju (Reuters) -Star Entertainment said on Wednesday it would divest its Star Sydney Event Centre assets to theatre owner and operator Foundation Theatres for A$60 million ($37.51 million) as the casino operator undergoes a cash and liquidity crunch. Shares of the company rose as much as 13% to A$0.130 in early trade, while …

Star Entertainment to divest Star Sydney Event Centre assets as it hunts for cash Read More »