Reuters US Business

(Reuters) -Elliott Investment Management and Southwest Airlines are close to reaching a settlement that would avert a proxy battle for control of the airline’s board, Bloomberg News reported on Wednesday, citing people familiar with the matter. The parties are negotiating a deal that would grant the activist investor several board seats but fewer than a …

Elliott, Southwest Airlines near deal to avert board battle, Bloomberg News reports Read More »

(Reuters) -Ingram Micro priced its U.S. initial public offering at $22 per share, within its targeted range of $20 and $23 on Wednesday, to raise $409.2 million, the technology distributor said. Ingram Micro and its private equity owner, Platinum Equity, sold 18.6 million shares at $22 each. The IPO valued the Irvine, California-based company at …

Platinum Equity’s Ingram Micro to raise about $409 million in US IPO Read More »

(Reuters) -The World Bank and the Inter-American Development Bank (IDB) are providing Argentina with $8.8 billion in financing, the South American country’s economy ministry announced on Wednesday, as the cash-strapped government ramps up support from key lenders. The announcement follows meetings in Washington this week between senior officials, including Economy Minister Luis Caputo, and international …

World Bank, IDB grant Argentina $8.8 billion in financing for economic development Read More »

MEXICO CITY (Reuters) -Mexico’s Becle, the world’s largest tequila producer, more than quadrupled its net profit in the third quarter, it said on Wednesday, boosted by favorable foreign exchange-rate dynamics. Net profit reached 896.11 million pesos ($45.51 million), while revenues ticked up nearly 4% from a year earlier to total 10.95 billion pesos. The Mexican …

Tequila maker Becle quadruples net profit in third quarter on peso’s slump Read More »

By Leah Douglas and Tom Polansek (Reuters) – The U.S. Department of Agriculture weakened an emergency order last spring designed to prevent the spread of bird flu among the nation’s dairy cattle after pushback from state and industry officials, according to state and federal records seen by Reuters. The communications, which have not previously been …

Exclusive-State and industry input led US farm agency to relax bird flu testing order for cows Read More »

By Lisa Pauline Mattackal, Purvi Agarwal and Carolina Mandl (Reuters) -Wall Street closed lower on Wednesday, as climbing Treasury yields pressured megacap stocks and investors grew less confident about strong rate cuts from the Federal Reserve, while corporate news pressured McDonald’s and Coca-Cola. Benchmark 10-year U.S. Treasury yields reached a three-month high with investors reassessing …

Wall Street closes down, pressured by tech losses and worries about rates Read More »

By Savyata Mishra (Reuters) -Mattel topped Wall Street estimates for quarterly profit as the Barbie parent kept a tight leash on costs but lowered its annual sales forecast heading into the crucial holiday shopping season against the backdrop of muted demand for toys. Its shares were up more than 4% in extended trading on Wednesday. …

Mattel beats profit estimates on cost controls but trims annual sales forecast Read More »

By Kylie Madry MEXICO CITY (Reuters) -Walmart’s Mexico and Central America unit reported a 5% dip in its third-quarter net profit on Wednesday as both the costs of its increased sales and general expenses grew. Walmart de Mexico, the country’s largest retailer, posted a net profit of 12.93 billion pesos ($656.61 million), below the average …

Walmart in Mexico posts 5% dip in Q3 profit as costs grow Read More »