(Reuters) -Choice Hotels said on Wednesday that it had asked the board of U.S. budget hotel operator Wyndham Hotels and Resorts to engage in merger talks. This comes about a week after Wyndham rejected Choice’s $7.8 billion acquisition offer, deeming it “underwhelming” and citing regulatory risks around a potential deal. “We respect Wyndham’s desire to …
Choice Hotels asks Wyndham to engage in merger talks Read More »
By Jody Godoy (Reuters) – A conservative group that lost a challenge to Nasdaq’s board diversity disclosure rule appealed the decision on Wednesday, requesting a full court review and saying that the rule discriminates based on race and sex. The rule approved by the U.S. Securities and Exchange Commission (SEC) in August 2021 requires companies …
Conservatives challenging Nasdaq board diversity rule appeal to full 5th Circuit Read More »
By Stephen Culp NEW YORK (Reuters) – U.S. stocks tumbled in a broad sell-off on Wednesday as Alphabet shares slid after the Google parent posted disappointing earnings and as U.S. Treasury yields rose, reviving fears that interest rates could stay higher for longer. The benchmark S&P 500 index notched its fifth daily decline in six …
S&P 500, Nasdaq end sharply lower as Alphabet disappoints, Treasury yields bounce Read More »
By Dan Levine and Hyunjoo Jin (Reuters) – An attorney suing Tesla over a fatal accident cited an internal safety analysis conducted by the company that showed it knew about a steering malfunction in its Autopilot driver assistant feature about two years earlier. The disclosure came during closing arguments on Tuesday in a California state …
Tesla aware of Autopilot steering malfunction before fatal crash -lawyer Read More »
By Victoria Waldersee BERLIN (Reuters) – Porsche AG reported nine-month results in line with its annual forecast on Wednesday but warned the luxury sector was suffering like others from higher costs and dampened consumer confidence as interest rates rise. The luxury carmaker’s supply chain was improving with inventories down, but high inflation combined with peak …
Porsche confirms outlook but warns luxury not immune to economic woes Read More »
By Lewis Jackson SYDNEY (Reuters) -Carnival Corp’s Australian unit has been ordered to pay the medical expenses of a woman who contracted COVID-19, with a judge ruling that the cruise ship operator misled passengers about safety risks in a landmark class action ruling. The decision from Australia’s Federal Court is the first class action win …
Australian court finds Carnival misled about cruise’s COVID risks in landmark ruling Read More »
By Hyunjoo Jin and David Shepardson SAN FRANCISCO/WASHINGTON (Reuters) -California on Tuesday ordered General Motors’ Cruise unit to remove its driverless cars from state roads, calling the vehicles a risk to the public and saying the company had “misrepresented” the safety of the technology. California’s Department of Motor Vehicles (DMV) said it suspended Cruise’s autonomous …
California sidelines GM Cruise’s driverless cars, cites safety risk Read More »
By Max A. Cherney and Akash Sriram (Reuters) -Google-parent Alphabet’s cloud business crawled to its slowest in 10 quarters, sending the company’s stock down 5.7% after hours, even as sales at rival Microsoft’s cloud unit boomed. The drop in Google’s share price despite beating Wall Street estimates for profit and sales, shows how much investors …
By Yuvraj Malik, Stephen Nellis and Anna Tong (Reuters) -Microsoft on Tuesday beat Wall Street estimates for fiscal first-quarter results in all segments, driven particularly by strength in its cloud-computing and PC businesses. The company’s revenue rose 13% to $56.5 billion in the quarter ended Sept. 30, compared with analysts’ consensus estimate of $54.52 billion, …
Microsoft sales beat estimates as customers prepare for AI rollout Read More »
By David Shepardson and Joseph White (Reuters) -The United Auto Workers (UAW) union on Tuesday struck a General Motors assembly plant in Texas that builds the U.S. automaker’s profitable full-size sport utility vehicles in another significant expansion of the strike. By striking GM’s Arlington assembly plant, home to GM’s profitable Chevy Tahoe, Chevy Suburban, GMC …
UAW strikes GM’s Escalade factory, turning up pressure for higher wages Read More »
