By Tom Sims and Alexander Hübner FRANKFURT (Reuters) -Allianz spent around 140 million euros ($143.11 million) on restructuring to wind down a U.S. funds unit at the centre of a multi-billion fraud, the German insurer disclosed on Friday, an expense that added to a worse-than-expected 23% fall in quarterly profit. Allianz in May agreed to …
Allianz shells out 140 million euros to shut U.S. fund unit after fraud Read More »
NEW YORK (Reuters) – Twitter Inc on Thursday dismissed Elon Musk’s claims in a Delaware court filing that he was hoodwinked into signing the deal to buy the social media company, saying that it was “implausible and contrary to fact.” (Reporting by Anirban Sen in New York)
By Michelle Price WASHINGTON (Reuters) – Visa and Mastercard on Thursday said they had suspended ties with the advertisement arm of MindGeek, owner of pornography website Pornhub, after a lawsuit alleged raised questions over whether payments companies could be facilitating child pornography. On Friday, a federal judge in California rejected Visa’s motion to dismiss a …
Mastercard, Visa suspend ties with ad arm of Pornhub owner MindGeek Read More »
By Ruhi Soni (Reuters) – Corteva Inc on Thursday reported a 14% jump in second-quarter operating earnings and raised its full-year sales and profit forecasts, benefiting from demand for crop protection products. U.S. farmers have been encouraged to maximize crop yields after prices of essential grains and oilseeds have surged since the Ukraine war. Ukraine, …
Corteva reports 14% profit jump, raises full-year forecast Read More »
(Reuters) – Warner Bros. Discovery Inc said on Thursday it would merge the HBO Max streaming service with Discovery+ as a single offering, combining WarnerMedia’s dramas, comedies and movies with Discovery’s reality shows. “With respect to streaming, our main priority right now is launching an integrated SVOD service,” said Chief Executive Officer David Zaslav. (Reporting …
Warner Bros. Discovery to combine HBO Max, Discovery+ Read More »
By Fergal Smith TORONTO (Reuters) – Canada’s main stock index edged higher on Thursday as gains for consumer and industrial shares offset fresh lows for oil prices that pressured the energy sector, a day before key U.S. and Canadian jobs data. The Toronto Stock Exchange’s S&P/TSX composite index ended up 31.10 points, or 0.2%, at …
Corporate earnings underpin TSX as oil prices slide Read More »
(Reuters) – Virgin Galactic Holdings Inc on Thursday again delayed the commercial launch of its space flight to the second quarter of 2023 from the first quarter, sending the shares of the space tourism firm 6% lower after the bell. The company founded by billionaire Richard Branson had in May cited supply-chain crisis and labor …
Virgin Galactic again delays commercial space flight to second quarter of 2023 Read More »
(Reuters) -Rare earths miner MP Materials Inc reported a better-than-expected quarterly profit on Thursday due to rising demand and prices for the materials used to make electric vehicles and a range of consumer goods. The Las Vegas-based company posted second-quarter net income of $73.3 million, or 38 cents per share, compared to $27.2 million, or …
MP Materials profit more than doubles on higher rare earths prices Read More »
(Reuters) -Beyond Meat Inc lowered its forecast for 2022 revenue on Thursday and said it would cut several jobs at a time when demand for its plant-based products is fizzling out in the United States. Analysts have said alternative meat makers should improve their products’ taste to attract consumers as a few restaurants including McDonald’s …
Beyond Meat cuts jobs, revenue expectation as plant-based boom fizzles out Read More »
By Divya Rajagopal TORONTO (Reuters) – Rogers Communications said on Thursday that Canada’s competition commissioner has a “statutory obligation” to expedite the hearing into the company’s proposed acquisition of Shaw Communications Inc. There are no compelling reasons to change the dates that were agreed by the parties, Rogers said. Rogers made the comments in a …
Rogers says Canada’s antitrust bureau must expedite Shaw M&A hearing Read More »
