By Svea Herbst-Bayliss NEW YORK (Reuters) – Activist investor Keith Meister is not embarrassed about lagging behind other corporate agitators, saying his rivals’ work has led him to buy companies such as Illumina, Dollar Tree and Fortrea where he argues the stocks are due for big gains. “They have already done the work and we …
Corvex founder Meister sees big upside for stocks already targeted by others Read More »
By Jonathan Stempel (Reuters) -Walmart will pay $7.5 million to resolve charges that the largest U.S. retailer illegally disposed of hazardous and medical waste from its facilities into California municipal landfills. The settlement was announced on Tuesday by California Attorney General Rob Bonta, following more than 70 audits by authorities of waste that Walmart sent …
Walmart to pay $7.5 million to resolve California hazardous waste charges Read More »
(Reuters) – The Biden administration said on Tuesday it would extend a semiconductor manufacturing tax break to producers of solar wafers, thin silicon slices used to make solar panels that are primarily produced in China. WHY IT’S IMPORTANT The move is the latest effort by the administration to build out a domestic solar supply chain …
US extends semiconductor tax breaks to some solar factories Read More »
(Reuters) – The U.S. government will award grants totaling $196 million for the repair and replacement of aging natural gas pipelines across 20 states, the Department of Transportation’s Pipeline and Hazardous Materials Safety Administration has announced on Tuesday. The grants, funded by President Joe Biden’s Bipartisan Infrastructure Law, will support 60 modernization projects. This round …
US allocates $196 million for natural gas pipeline modernization Read More »
(Reuters) – J.M. Smucker said on Tuesday it would sell its cookie brand, Voortman, to U.S.-based premium snacks maker Second Name Brands in a $305 million all-cash deal. The Jif peanut butter maker, which was exploring a sale of Voortman in July as reported by Reuters citing sources, said the divestiture is a part of …
JM Smucker to divest cookie brand Voortman in $305 million deal Read More »
BUENOS AIRES (Reuters) -The World Bank is prepared to provide Argentina with more than $2 billion in new loans destined for social security, education, transport, energy and battling poverty, the multilateral lender’s regional vice president said on Tuesday. Carlos Felipe Jaramillo, who heads the World Bank’s Latin American and Caribbean division, made the announcement on …
World Bank to loan Argentina over $2 billion for social support Read More »
SAO PAULO (Reuters) – Brazilian power firm Eletrobras has signed a memorandum of understanding with Ocean Winds to study the development of offshore wind farms in Brazil, the firms said on Tuesday in a joint statement. WHY IT’S IMPORTANT Offshore wind farms are expected to be an important technology to generate large volumes of renewable …
Eletrobras, Ocean Winds agree to assess offshore wind projects in Brazil Read More »
WASHINGTON (Reuters) – Ryan Choi, an associate of U.S. short seller Andrew Left of Citron Research, agreed to pay $1.8 million to settle U.S. Securities and Exchange Commission (SEC) charges relating to two of Citron’s stock recommendations, according to court documents. The SEC accused Choi of “negligently engaging in a scheme to defraud” readers of …
US SEC settles charges with associate of short seller Andrew Left for $1.8 million Read More »
By Nora Eckert and Nathan Gomes DETROIT (Reuters) -General Motors surpassed Wall Street’s expectations in the third quarter, sending its shares up 8% on Tuesday thanks to a resilient consumer demand for its trucks and SUVs. “The consumer has held up remarkably well for us,” Chief Financial Officer Paul Jacobson said, predicting demand would improve …
GM tops estimates on ‘remarkably’ resilient consumer, shares surge Read More »
By Aida Pelaez-Fernandez MEXICO CITY (Reuters) -Mining and transport conglomerate Grupo Mexico on Tuesday reported a 17.55% increase in its net profit during the third quarter, boosted by copper prices and higher production levels. The company’s net profit came in at $820.1 million, below expectations of analysts polled by LSEG that saw it at $935.65 …
Mining giant Grupo Mexico’s profit jump on copper prices, production Read More »
