ROME (Reuters) – Lufthansa will consider raising its stake in Italy’s ITA Airways to 90%, starting from early next year, the CEO of the German airline said in an interview published on Thursday. Carsten Spohr was speaking after his company won EU antitrust approval to buy 41% of state-owned ITA for 325 million euros ($350 …
Lufthansa to consider raising stake in ITA to 90%, CEO says Read More »
(Reuters) -The parent of Saks Fifth Avenue sealed a $2.65 billion deal to buy rival Neiman Marcus with help from Amazon, which will take a minority stake in the combined company, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The deal would unite the two luxury retailers that have struggled …
Saks owner to buy Neiman Marcus with help from Amazon, WSJ reports Read More »
By Daniel Wiessner (Reuters) -Microsoft Corp has agreed to pay $14 million to settle a California agency’s claims that it illegally penalized workers who took medical or family-care leave, the agency said on Wednesday. The California Civil Rights Department in filings in state court accused the tech giant of retaliating against its California-based employees who …
Microsoft settles California probe over worker leave for $14 million Read More »
By David Shepardson (Reuters) -General Motors will pay a $145.8 million penalty and forfeit credits worth hundreds of millions of dollars after a U.S. government investigation found excess emissions from approximately 5.9 million GM vehicles, government agencies said on Wednesday. The Environmental Protection Agency said GM has agreed to give up approximately 50 million metric …
GM to pay $145.8 million penalty after US finds excess emissions Read More »
(Reuters) -Amazon.com said on Wednesday it would discontinue its security robot, Astro for Business, for small- and medium-sized businesses as it shifts its focus to household robots. The e-commerce giant initially launched the canine-like robot for household use in 2021. Astro for Business was launched last November for a range of customers including retail, manufacturing, …
Amazon to wind down its Astro for Business security robot Read More »
By Howard Schneider WASHINGTON (Reuters) -Federal Reserve officials at their last meeting acknowledged the U.S. economy appeared to be slowing and that “price pressures were diminishing,” but still counseled a wait-and-see approach before committing to interest rate cuts, according to minutes of the June 11-12 session. The minutes, which were released on Wednesday, noted in …
Fed officials at last meeting saw price pressures in decline, minutes show Read More »
By Lucia Mutikani WASHINGTON (Reuters) -First-time applications for U.S. unemployment benefits increased last week, while the number of people on jobless rolls rose further to a 2-1/2 year high towards the end of June, consistent with a gradual cooling in the labor market. Ebbing labor market momentum, together with abating inflation pressures, keep the Federal …
US weekly jobless claims rise as labor market gradually slows Read More »
By Anna Tong and Krystal Hu (Reuters) – Magic, a U.S. startup developing artificial-intelligence models to write software, is in talks to raise over $200 million in a funding round valuing it at $1.5 billion, just several months after its last capital raise, three sources told Reuters. Investors including Jane Street are expected to participate …
By Milana Vinn (Reuters) – Private equity firm Vista Equity is in talks to cede control of its company Pluralsight to lenders, according to three people familiar with the matter and fund documents reviewed by Reuters. The financial information in the documents sheds light on how Pluralsight is set to become the first major debt …
Exclusive-Vista Equity in talks to hand over Pluralsight to creditors, sources say Read More »
By Julie Steenhuysen and Mariam Sunny (Reuters) -The U.S. Food and Drug Administration on Tuesday approved Eli Lilly’s treatment for early Alzheimer’s, making it the second therapy for slowing progression of the brain-wasting disease that will be available to U.S. patients. The approval for donanemab, to be sold under the brand name Kisunla, followed the …
