Reuters US Business

By Svea Herbst-Bayliss (Reuters) -ValueAct Capital has built a large stake in Walt Disney and sees room for the media and entertainment giant’s stock price to roughly double, people familiar with the investment firm’s thinking said on Wednesday. San Francisco-based ValueAct has known the Disney team for more than a decade and has been in …

ValueAct builds stake in Disney, adds drama at home of Mickey Mouse -sources Read More »

By Daniel Wiessner (Reuters) – REI, the camping and outdoor sports equipment retailer, was accused on Wednesday of dozens of violations of U.S. labor law at eight retail stores that have unionized since last year. Workers at stores in New York, California, Chicago and Boston, among others, filed a total of 80 complaints with the …

REI accused of widespread labor law violations at unionized US stores Read More »

(Reuters) – Clorox’s chief information security officer, Amy Bogac, has left the company as it works to recover from a cyberattack, Bloomberg News reported on Wednesday, citing an internal memo. The incident in August threw the cleaning supplies maker’s order fulfillment facilities out of gear for more than a month, and forced it to trim …

Clorox’s cyber chief leaves as recovery from cyberattack continues – Bloomberg News Read More »

By Zeba Siddiqui, Christopher Bing and Raphael Satter SAN FRANCISCO/WASHINGTON (Reuters) – The U.S. Federal Bureau of Investigation (FBI) has struggled to stop a hyper-aggressive cybercrime gang that’s been tormenting corporate America over the last two years, according to nine cybersecurity responders, digital crime experts and victims. For more than six months, the FBI has …

FBI struggled to disrupt dangerous casino hacking gang, cyber responders say Read More »

(Reuters) -British consumer goods company Reckitt said on Wednesday Chris Sinclair planned to retire as chairman after nine years, and would be succeeded by Jeremy Darroch at the end of its annual general meeting in May 2024. The latest appointment follows changes in top management at the firm this year. In August, Nike’s Shannon Eisenhardt …

Reckitt names insider Darroch as new chairman as Sinclair to retire Read More »

By Elisa Anzolin MILAN (Reuters) – Giorgio Armani has always kept a tight grip on the firm he founded, and the Italian fashion king’s attention to detail extends to clear rules on how it should be run after his death. Armani, 89, remains CEO and effectively sole shareholder of the business he set up with …

Giorgio Armani fashions his own legacy with succession plan Read More »

By Mike Dolan LONDON (Reuters) – The scale of the debt market reaction to October’s U.S. inflation undershoot partly reflects sheer relief in what’s now one of the biggest bond market bets of the century so far. While headline and ‘core’ annual consumer price inflation rates were just 0.1 percentage point below forecast, at 3.2% …

Column-Boom at last for ‘Big Long’ in bonds: Mike Dolan Read More »

BERLIN (Reuters) -German chip manufacturer Infineon reported higher-than-expected revenue for its 2023 fiscal year on Wednesday as demand for semiconductors, particularly in the electromobility and renewable energy sectors, remains unabated. Revenue was 16.31 billion euros ($17.72 billion), up 15% from the year before, slightly beating company-provided analyst expectations of 16.22 billion euros. “Structural semiconductor growth …

Infineon reports better-than-expected 2023 revenue on semiconductor demand Read More »

(Reuters) -BofA Global Research no longer expects the U.S. Federal Reserve to raise interest rates, joining other Wall Street banks, following softer-than-expected October inflation data in the world’s largest economy. Data on Tuesday showed U.S. consumer prices were unchanged in October month-on-month, representing a significant cooling from September’s rise. This bolstered views among investors that …

BofA joins ‘Fed done hiking rates’ view; Barclays sees one more Read More »

By David Shepardson and Nathan Gomes WASHINGTON (Reuters) -Workers belonging to the United Auto Workers (UAW) at General Motors’ Spring Hill plant in Tennessee voted against a proposed contract, even as the union’s president said in Washington on Tuesday that the deal remains on track for approval. Each facility’s union local must vote on the …

UAW workers at GM Tennessee plant reject tentative deal; overall count still in favor Read More »