Reuters US Business

By Savyata Mishra (Reuters) – (This June 30 story has been officially corrected to drop the reference to aspartame being removed from PepsiCo products in 2020, in paragraph 9. A PepsiCo spokesperson corrected an earlier statement from an outside company spokesperson) Coca-Cola will only see a limited impact if the world health agency classifies the …

Coca-Cola to see less pain from looming WHO decision on aspartame – analysts Read More »

By Lisa Baertlein (Reuters) -A threatened U.S. strike at United Parcel Service could be “one of the costliest in at least a century,” topping $7 billion for a 10-day work stoppage, a think tank specializing in the economic impact of labor actions said on Thursday. That estimate from Michigan-based Anderson Economic Group (AEG) includes UPS …

UPS strike could be costliest in US in a century, study says Read More »

By Marie Mannes, John O’Donnell and Chiara Elisei STOCKHOLM/LONDON/FRANKFURT (Reuters) – For hundreds of thousands of ordinary Swedes, investing in one of their country’s biggest landlords SBB was a sure bet for years. Now it is at the epicentre of a property crash that threatens to engulf the Nordic state’s economy. On Friday, the heavily-indebted …

Analysis-Fall from grace: How the property crash unravelled Sweden’s SBB Read More »

By Pratima Desai and Siyi Liu LONDON/BEIJING (Reuters) -The Shanghai Futures Exchange (ShFE) is looking to expand its commodities warehousing network outside China, and is examining systems and regulations in the sector overseas, three sources with direct knowledge of the matter told Reuters. China’s dominant commodities bourse has a domestic network of 216 storage facilities …

Shanghai Futures Exchange targets commodity storage outside China – sources Read More »

(Reuters) – Walt Disney’s board on Wednesday extended the term of Chief Executive Officer Robert Iger till the end of 2026. The board agreed to extend Iger’s contract by two years as it ensures “continuity of leadership during the company’s ongoing transformation,” Disney said in a statement. Iger returned to Disney as CEO in November …

Disney board extends CEO Iger’s contract to 2026 Read More »

By Herbert Lash NEW YORK (Reuters) – The end of the pandemic has brought little relief to Manhattan’s depressed market for workspace, where empty floors remain the norm and by one calculation the values of 45% of the city’s office buildings are below their last sale price. The amount of space leased in the second …

Manhattan office market’s tough outlook persists, leaving investors on sidelines Read More »

By Abigail Summerville and Krystal Hu (Reuters) – Investment firm Wellington Management is in talks to lead a new funding round for Skims, which could value the underwear clothing company owned by Kim Kardashian at about $4 billion valuation, according to people familiar with the matter. The Boston-based asset manager is in discussions to make …

Wellington in talks to invest in Kim Kardashian’s Skims at $4 billion valuation-sources Read More »

By Stephanie Kelly NEW YORK (Reuters) – A bipartisan group of U.S. lawmakers introduced legislation this week directing the Biden administration to allow oil refiners to purchase compliance credits for U.S. biofuel blending laws at a lower, fixed cost compared to the open market. The proposal would reduce rising compliance costs associated with the U.S. …

US lawmakers seek to lower biofuel blending compliance costs Read More »

By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended solidly higher on Wednesday, led by a gain of more than 1% in the Nasdaq after a report showed inflation subsided further with consumer prices registering their smallest annual increase in more than two years. The data underscored expectations the Federal Reserve may let interest …

Nasdaq leads Wall St to higher close as CPI report lifts sentiment Read More »

By Elizabeth Howcroft LONDON (Reuters) – Crypto crime fell overall in the first six months of 2023, but the volume of payments to ransomware attackers surged and is on track for its second-biggest annual total on record, blockchain analytics firm Chainalysis said on Wednesday. Cryptocurrency prices have gradually risen this year, recovering after a string …

Crypto ransom attacks rise in first half of 2023 – Chainalysis Read More »