(Reuters) – WeWork said on Tuesday it aimed to emerge from Chapter 11 bankruptcy in the U.S. and Canada by May 31 and had negotiated more than $8 billion, or over 40%, reduction in rent commitments from landlords. The shared office space provider, once privately valued at $47 billion, filed for bankruptcy in November as …
WeWork targets Chapter 11 exit by May 31, secures $8 billion in rent reduction Read More »
By Akash Sriram and Hyunjoo Jin (Reuters) -Tesla on Tuesday posted a decline in quarterly deliveries for the first time in nearly four years and missed Wall Street estimates, a performance some described as “ugly” as price cuts failed to stir demand in a highly competitive market. Shares of the Elon Musk-led company were down …
Tesla quarterly deliveries decline for the first time in nearly four years Read More »
By Caroline Valetkevitch NEW YORK (Reuters) -U.S. stocks fell on Tuesday as investors weighed chances that the Federal Reserve could delay cutting interest rates, while Tesla shares dropped after the electric car maker posted fewer quarterly deliveries for the first time in nearly four years. Tesla’s stock dropped 4.9%, one of the biggest drags on …
Indexes end lower as Tesla drops, rate cut timing weighed Read More »
By Leika Kihara and Satoshi Sugiyama TOKYO (Reuters) -Core inflation in Japan’s capital slowed in March and factory output unexpectedly slid in the previous month, heightening uncertainty on how soon the Bank of Japan can raise interest rates again after exiting its radical monetary stimulus. The slew of weak signs in the economy could prompt …
Tokyo inflation slowdown, output slide clouds BOJ’s rate hike outlook Read More »
By David Shepardson WASHINGTON (Reuters) – The White House plans to renew a push in April to convince Congress to extend an internet subsidy program used by 23 million American households just weeks before it runs out of money, officials said. In October, the White House asked for $6 billion to extend the program through …
White House makes last-ditch push for internet subsidy program Read More »
By Marcela Ayres BRASILIA (Reuters) – In just three years, Brazil’s hugely popular Pix payment system has become the country’s favorite way to pay, replacing cash and wire transfers in many cases and now threatening the dominance of credit cards in the booming e-commerce sector. The instant payments designed by Brazil’s central bank are a …
Brazil’s Pix payments are killing cash. Are credit cards next? Read More »
ZURICH (Reuters) -UBS on Tuesday announced it was launching a new share buyback programme of up to $2 billion, with up to half being completed in 2024. The scheme will begin on Wednesday, April 3, the Swiss bank said. The scheme follows the 2022 buyback, where UBS bought back 298.5 million of its shares – …
By Ryan Woo, Albee Zhang and Casey Hall BEIJING (Reuters) – China will lift anti-dumping and anti-subsidy tariffs on Australian wine from March 29, the Chinese commerce ministry said on Thursday, ending three years of punitive levies and offering long-awaited relief to Australian wine producers. The tariffs, of up to 218.4%, were first imposed in …
China lifts tariffs on Australian wine, ends three-year freeze in trade Read More »
NEW YORK (Reuters) – Mutual fund firm T. Rowe Price, which owned roughly 9.3 million shares in Walt Disney, said it has voted for the entertainment giant’s directors, dealing a blow to activist hedge funds Trian Fund Management and Blackwells Capital as they seek board seats. T.Rowe Price told Reuters on Monday it voted for …
T.Rowe Price backs Disney directors in boardroom challenge with hedge funds Read More »
By Yuvraj Malik and Priyanka G (Reuters) -Shares of Donald Trump’s social media company plunged 21% on Monday, wiping out the gains from its debut last week, after disclosing millions in losses and saying it would struggle to meet its financial liabilities going forward. Trump Media & Technology Group lost more than $58 million in …
