Reuters US Business

By Michal Aleksandrowicz (Reuters) -Just Eat Takeaway reported a more than 40% jump in first-half core profit on Wednesday, led by its main European markets, announced a share buyback programme and said it was focused on using technology to cut costs further. Europe’s biggest food delivery company by revenue posted half-year adjusted earnings before interest, …

Just Eat Takeaway announces buyback as Europe leads profits beat Read More »

By Ilona Wissenbach, Joanna Plucinska and Rachel More BERLIN/LONDON (Reuters) -Lufthansa warned of a fall in third-quarter earnings on Wednesday as the German airlines group grapples with higher wage costs and a squeeze on ticket prices. Airfares around Europe and Asia have started to plateau or fall amid signs the post-COVID travel boom may be …

Lufthansa sees earnings slump in third quarter as costs rise Read More »

(Reuters) -Cadbury parent Mondelez International missed expectations for second-quarter revenue on Tuesday, as budget-conscious customers opted for lower-priced alternatives amid sticky inflation. While consumer packaged goods companies like Mondelez International, Hershey have beefed up prices to counter higher costs of raw materials such as cocoa and sugar, demand for their products faltered. Mondelez’s sales volumes …

Mondelez International misses quarterly revenue estimates due to weaker demand Read More »

(Reuters) – Caesars Entertainment on Tuesday posted a second-quarter loss compared with a year-ago profit, after the casino operator took a $940 million charge related to its REIT leases. Profit from its U.S. properties including in Las Vegas has eased over the past year as consumers reduce discretionary spend in the face of higher expenses …

Caesars Entertainment posts second-quarter loss after $940 million charge Read More »

By Daniel Wiessner (Reuters) -Wells Fargo & Co was accused in a lawsuit filed on Tuesday of mismanaging its employee health insurance plan and forcing tens of thousands of U.S. employees to overpay for prescription drugs. The proposed class action filed in Minnesota federal court by four ex-employees of Wells Fargo claims the bank violated …

Wells Fargo sued over employee prescription drug costs Read More »

By Blake Brittain (Reuters) -Software company Pegasystems convinced a Virginia appeals court on Tuesday to throw out a $2 billion jury verdict for rival Appian in a court battle over Pegasystems’ alleged theft of Appian’s trade secrets. The award from 2022 had been the largest damages verdict in Virginia court history, the Court of Appeals …

Appian’s $2 billion verdict against Pegasystems overturned by appeals court Read More »

By Chuck Mikolajczak NEW YORK (Reuters) – The S&P 500 and Nasdaq closed lower on Tuesday, weighed down by weak chip and megacap shares ahead of earnings from heavyweight tech companies this week, but the Dow managed modest gains. Microsoft <MSFT.O>, seen by many as leading the artificial intelligence race, fell 0.89% to $422.92 ahead …

S&P 500, Nasdaq stumble on caution ahead of tech earnings Read More »

By Anirban Sen (Reuters) -Private equity firm Blackstone is in early-stage talks to acquire Retail Opportunity Investments Corp (ROIC), which owns U.S. shopping centers and has a market value of close to $2 billion, according to people familiar with the matter. Blackstone’s interest comes after ROIC’s shares lost more than 10% of their value in …

Exclusive-Blackstone in bid to acquire shopping center owner Retail Opportunity, sources say Read More »

By David Shepardson WASHINGTON (Reuters) -The chair of the U.S. Senate Commerce Committee wants the Federal Aviation Administration to conduct a thorough review into its oversight of Boeing and other manufacturers, raising serious questions about the government’s scrutiny of the planemaker. “While the FAA has rightly focused on Boeing’s production quality shortcomings, I am concerned …

US senator wants FAA to conduct thorough review into Boeing oversight Read More »