By Yadarisa Shabong (Reuters) -IHG said on Friday it expected to close out 2023 with “very strong” financials as the Holiday Inn-owner reported a rise in quarterly revenue per room thanks to strong summer travel demand and a recovery in China to pre-pandemic levels. Its shares, however, fell 2.2% in morning trade, with Bernstein analyst …
IHG upbeat about 2023 results despite challenges holding back new hotels Read More »
By Joseph White DETROIT (Reuters) -The United Auto Workers and the Detroit Three automakers are stuck in a standoff over wages and union representation at future electric vehicle battery plants, with Tesla and Chinese rivals looming over the bargaining tables. UAW President Shawn Fain is pushing negotiators for General Motors, Ford and Chrysler-parent Stellantis to …
Behind Detroit’s battery fight: Profits, UAW’s power and Tesla Read More »
By David Shepardson (Reuters) – Union workers that went on strike at Mercedes-supplier ZF’s plant in Alabama last month demanding higher pay and better healthcare benefits have ended a nearly monthlong walkout Thursday. The United Auto Workers said the strike by 190 workers was over after a tentative agreement had been ratified. Workers last month …
Workers at ZF plant in Alabama ratify labor deal, end strike Read More »
By Jody Godoy (Reuters) -The U.S. Securities and Exchange Commission dropped claims against two Ripple Labs executives in its lawsuit alleging the blockchain company violated U.S. securities law, according to a court filing in New York on Thursday. The agency said in court papers it is dropping claims that Ripple Chief Executive Brad Garlinghouse and …
US SEC drops claims against two Ripple Labs executives Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended solidly lower on Thursday, with shares of Tesla falling after its results and Treasury yields surging as Federal Reserve Chair Jerome Powell spoke about monetary policy and investors worried whether interest rates would stay higher for longer. Tesla shares dropped a day after the carmaker …
Wall St drops as Treasury yields surge, Powell speaks Read More »
By Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s government intervened in the foreign exchange market on Thursday to tamp down volatility ahead of the country’s general elections on Sunday, while officials said there would be no sharp currency devaluation after the vote. In the black market, where dollars sell for almost three times the official …
Argentina gov’t moves to calm FX market, pledges no post-election devaluation Read More »
(Reuters) – U.S. railroad operator CSX Corp on Thursday missed Wall Street estimates for third-quarter profit, as a decline in intermodal freight volumes more than offset pricing gains. Inflationary pressures and higher borrowing costs have reduced consumer demand for goods, at a time when companies are still destocking inventories built up during the pandemic. This …
CSX Corp profit misses Wall Street estimates on weak freight volumes Read More »
By Aditya Soni and Akash Sriram (Reuters) – Elon Musk’s warning that high interest rates could sap electric-vehicle demand knocked shares of the sector on Thursday, with some analysts questioning if Tesla can maintain the runaway growth that has for years set it apart from other automakers. The world’s most valuable automaker’s stock closed down …
Tesla CEO Musk’s demand warning sparks selloff in EV stocks Read More »
(Reuters) -Walgreens Boots Alliance has agreed to pay $192.5 million to settle a class action lawsuit by investors in Rite Aid who accused Walgreens of misleading them in 2017 about scrutiny of the two drugstore chain operators’ then-pending merger. The deal filed in Pennsylvania federal court on Wednesday is subject to approval by District Judge …
Walgreens to settle Rite Aid investors’ merger claims for $192 million Read More »
NEW YORK (Reuters) – Federal Reserve Bank of Atlanta President Raphael Bostic said on Thursday that controlling inflation is still the U.S. central bank’s mission, although he did not say what that means for monetary policy. “As for inflation, that is job one for now,” Bostic said in the text of a speech prepared for …
Fed’s Bostic: Lowering inflation still main US central bank mission Read More »
