By Abigail Summerville, Echo Wang and Anirban Sen NEW YORK (Reuters) – New Era Cap LLC, a supplier of major U.S. sports league headware, has kicked off preparations for an initial public offering (IPO) in New York that could value it at $4 billion to $5 billion, according to people familiar with the matter. New …
Exclusive-U.S. sports league caps maker New Era prepares for IPO-sources Read More »
(Reuters) – Uber Technologies is considering buybacks and dividends to shareholders as its cash flow ramps up, CEO Dara Khosrowshahi said at an event on Thursday. “We are now entering a phase where we are increasingly thinking about returning the capital to shareholders, either through dividends or buybacks, more likely with buybacks,” Khosrowshahi said at …
Uber increasingly considering buybacks as cash flow ramps up – CEO Read More »
By David Lawder WASHINGTON (Reuters) -The U.S. Treasury will push for a general increase in International Monetary Fund quota resources this year that would maintain the IMF’s current voting power allocations for the time being, the department’s top economic diplomat said on Thursday. Jay Shambaugh, the Treasury’s undersecretary for international affairs, said ahead of a …
US Treasury official pushes IMF quota increase to bolster lending resources Read More »
By Trevor Hunnicutt and Nandita Bose WASHINGTON (Reuters) – U.S. President Joe Biden arrives at this weekend’s Group of 20 (G20) meeting in India with an offer for the “Global South”: whatever happens to China’s economy, the United States can help fund your development. Armed with cash for the World Bank and promises of sustained …
Analysis-Biden doubles down on emerging markets as Xi snubs G20 Read More »
By John Revill ZURICH (Reuters) -Nestle is buying a majority stake in Brazilian premium chocolate maker Grupo CRM, the Swiss food group said on Thursday, as it seeks to expand into luxury confectionary. Grupo CRM operates more than 1,000 chocolate boutiques in Brazil under the Kopenhagen and Brasil Cacau brands and has a growing online …
Nestle goes upmarket with deal for Brazil chocolate maker Read More »
By Huw Jones LONDON (Reuters) – Global financial regulators and the International Monetary Fund on Thursday set out a roadmap to coordinate measures that stop cryptoassets from undermining macroeconomic and financial stability. Such risks are exacerbated by noncompliance with existing laws in some instances, the G20’s risk watchdog, the Financial Stability Board, and the IMF …
IMF and regulators set out roadmap to contain crypto risks Read More »
By Scott DiSavino and Nerijus Adomaitis (Reuters) – The value of Danish energy company Orsted, the world’s largest offshore wind farm developer and a big player in the U.S., has plunged about 31% since it declared $2.3 billion in U.S. impairments in late August due to supply delays, high interest rates and a lack of …
Explainer-Why the US offshore wind industry is in the doldrums Read More »
By Riham Alkousaa BERLIN (Reuters) – Germany’s wind power expansion is facing an unexpected roadblock: builders need permits to transport the heavy turbines down the country’s roads, and they are waiting months to get them. With a backlog of more than 15,000 applications for approvals, companies say their projects are heavily delayed, with the costs …
Germany’s wind power expansion stalls on the roads Read More »
By Granth Vanaik (Reuters) -American Eagle Outfitters on Wednesday joined rival Abercrombie & Fitch in raising its annual revenue forecast, betting on steady demand for its wide-legged pants, tops and accessories despite still-high inflation. Its shares fell about 3% in extended trading, after the company reported second-quarter revenue in line with expectations. The stock has …
American Eagle Outfitters lifts revenue forecast on steady demand Read More »
By Sinéad Carew and Shristi Achar A (Reuters) – Wall Street’s three major averages closed lower on Wednesday with the Nasdaq’s 1% loss leading declines after stronger-than-expected services sector data fueled concerns that still sticky inflation would mean that interest rates stay higher for longer. The Institute for Supply Management (ISM) said on Wednesday its …
Wall St slides as economic data stokes inflation and interest rate worries Read More »
