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LONDON (Reuters) – Major Glencore shareholder BlackRock Inc was among investors to reject the mining giant’s climate progress report at its annual meeting in May, citing inconsistencies, a voting disclosure page on the asset manager’s website shows. BlackRock’s entities, which collectively own more than 6% of Glencore’s stock, according to LSEG data, boosted dissident shareholders …

BlackRock voted against Glencore’s climate progress report Read More »

LOS ANGELES (Reuters) – Former Amazon executive Dave Clark on Wednesday announced that he will resign as CEO of Flexport, one of the best funded U.S. logistics startups. Clark joined Flexport in September last year after a long career at Amazon.com. He officially became CEO in March this year, replacing founder Ryan Petersen, who transitioned …

Former Amazon executive Dave Clark to resign as Flexport CEO Read More »

By Mehr Bedi (Reuters) -Southwest Airlines on Wednesday flagged softer August leisure bookings and joined two other U.S. airlines in warning of higher fuel costs in the third quarter due to a jump in crude prices. The largest U.S. domestic carrier said August bookings were at the lower end of its expectations, in part due …

U.S. airlines flag high fuel costs, Southwest’s August bookings disappoint Read More »

(Reuters) -GameStop on Wednesday beat Wall Street estimates for quarterly revenue and posted a smaller-than-expected loss, buoyed by strong demand for videogames, collectibles and consoles. The company’s shares jumped nearly 10% in volatile extended trading as the results indicated that efforts to boost its digital presence were paying off. Executive chairman and largest shareholder Ryan …

GameStop beats quarterly revenue estimates on strong videogame demand Read More »

By Ann Saphir and Richard Cowan (Reuters) -The U.S. Senate overwhelmingly voted on Wednesday to confirm Philip Jefferson to be vice chair of the Federal Reserve, signaling broad bipartisan support for the U.S. central bank’s second-in-command as policymakers near a potential watershed moment in their battle against inflation. Jefferson was a longtime economics professor and …

US Senate confirms Jefferson as Fed vice chair; other nominees await votes Read More »

By Dietrich Knauth (Reuters) -A U.S. bankruptcy judge on Wednesday approved Party City Holdco’s Chapter 11 bankruptcy plan, which will cancel about $1 billion in company debt and turn all of its equity value over to the retailer’s lenders. Party City attorney Ken Ziman said at a court hearing in Houston that the party supplies …

Party City set to exit bankruptcy with $1 billion debt reduction Read More »

(Reuters) – IBM said on Wednesday it is notifying customers of Janssen CarePath, a Johnson & Johnson unit, of a “data incident” involving unauthorized access of personal information. The personal information was part of a database used on the Janssen CarePath platform, according to IBM. IBM, which manages the database, said it was unable to …

IBM notifies J&J unit Janssen CarePath’s customers of unauthorized data access Read More »

MUNICH (Reuters) – German automakers under heavy pressure from Chinese competition are speeding up their transition to electric vehicles, enabling partnerships with the likes of EV startup Xpeng, its CEO Brian Gu said in an interview on Wednesday. Of new EVs sold in Europe in 2023, 8% were made by Chinese brands, up from 6% …

German automakers in ‘darkest moment’ speed up EV transition – Chinese executive Read More »

(Reuters) – Alphabet’s Google on Tuesday tentatively settled a class action suit alleging that its U.S. Play Store had violated U.S. federal antitrust rules by overcharging customers, according to a court filing. Details of the settlement were not disclosed. In the action brought by more than 30 U.S. states and representing 21 million consumers, the …

Google reaches tentative settlement in US Play Store lawsuit Read More »