By Archishma Iyer and Praveen Menon (Reuters) -National Australia Bank shares surged on Wednesday to their highest in about nine years after the bank’s first-quarter cash profit beat market estimates, and the lender said it remains optimistic about Australia’s economy. The country’s top business lender said income from its markets and treasury portfolio drove revenue …
National Australia Bank cash earnings beat estimates Read More »
(Reuters) -Pilots at Network Aviation, a subsidiary of Australia’s Qantas Airways, called off their four-day strike plan from Thursday to enable evacuation flights if required due to threat from ex-Tropical Cyclone Lincoln, a pilots union said. The pilots at Network Aviation, which conducts charter flights from mines in Western Australia, made the decision after talks …
Qantas’ pilots suspend strike plan on Cyclone Lincoln risk Read More »
(Reuters) -French dairy products group Danone is planning to sell its Russian business to a Chechnya-linked businessman, the Financial Times reported on Wednesday, months after Moscow took temporary control of the company’s business in Russia. Dairy company Vamin Tatarstan, owned by the businessman Mintimer Mingazov, has agreed to pay 17.7 billion roubles ($191.88 million) to …
Danone planning to sell Russian operations to Chechnya-linked businessman- FT report Read More »
By Nathan Gomes (Reuters) -A group of investors led by Ancora Holdings on Tuesday said it had proposed replacing Norfolk Southern’s top management, including its CEO, and nominated eight directors to the railroad operator’s board. The investor group, which holds a “large equity stake” in the company, aims to replace CEO Alan Shaw with former …
Ancora-led group wants new CEO, COO at Norfolk Southern; nominates board members Read More »
(Reuters) – Chesapeake Energy reported a steep decline in fourth-quarter profit on Tuesday, as the natural gas producer battled lower commodity pricing during the period as well as a decline in output. The company reported a profit of $569 million, or $4.02 per share, for the quarter ended Dec. 30, compared with $3.51 billion, or …
Chesapeake Energy reports fall in quarterly profit Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks ended lower on Tuesday, with the Nasdaq showing the largest declines as chipmaker Nvidia stumbled ahead of its highly awaited earnings report, while gains in Walmart kept losses on the Dow Industrials in check. Shares of the chip designer Nvidia tumbled while the broader Philadelphia semiconductor index …
Stocks close lower as Nvidia weighs ahead of earnings Read More »
By Jessica DiNapoli NEW YORK (Reuters) – U.S. packaged foods firm Conagra Brands sees an “opportunity” to sell more frozen meals, meat snacks and popcorn to people using weight-loss drugs like Ozempic, executive Tom McGough said Tuesday at an industry conference. Investors have worried that U.S. food companies will see sales slide as more people …
Conagra sees ‘opportunity’ to sell frozen meals to those on weight loss drugs Read More »
By David Shepardson WASHINGTON (Reuters) -General Motors said Tuesday it has temporarily paused sales of its 2024 model year Chevrolet Colorado and GMC Canyon mid-size trucks to address intermittent software quality issues. The Detroit automaker said a fix has been identified and implemented and began shipping the vehicles to dealers on Monday. “We expect this …
GM pauses sales of new mid-size Colorado, Canyon trucks over software issue Read More »
(Reuters) – Universal Music Group on Tuesday said it would buy a 25.8% stake in Chord Music Partners for $240 million in a deal that will see investment company KKR exit from the capital of the music catalogue owner. KKR will sell its majority stake to a consortium led by Dundee Partners, that will now …
Music label UMG to buy minority stake in Chord Music Partners for $240 million Read More »
By David French and Anirban Sen (Reuters) -Occidental Petroleum is exploring a sale of Western Midstream Partners, a U.S. natural gas-focused pipeline operator that has a market value of close to $20 billion, including debt, according to people familiar with the matter. The divestment would help Occidental, which is backed by Warren Buffett’s Berkshire Hathaway, …
Exclusive-Occidental explores $20 billion-plus sale of Western Midstream, sources say Read More »
