By David Shepardson and Rajesh Kumar Singh (Reuters) -Spirit Airlines Inc on Friday urged its shareholders to back a merger deal with Frontier Group Holdings at a meeting next week after Frontier boosted its offer for the ultra-low-cost carrier. Spirit is the subject of a bidding war between Frontier and JetBlue Airways Corp. Both bidders …
Frontier raises offer for Spirit to stave off JetBlue’s bid Read More »
By Lucia Mutikani WASHINGTON (Reuters) – Sales of new U.S. single-family homes unexpectedly rose in May, but the rebound is likely to be temporary as home prices continue to increase and the average contract rate on a 30-year fixed-rate mortgage approaches 6%, reducing affordability. While the report from the Commerce Department on Friday also showed …
U.S. new home sales rebound in May; consumer sentiment at record low Read More »
By Ann Saphir and Lindsay Dunsmuir (Reuters) -A pair of U.S. central bankers said on Friday they supported further sharp interest rate hikes to stem rapid price rises, even as investors cheered economic data showing inflation expectations to be less worrisome than initially feared. Last week, the Federal Reserve raised its benchmark overnight interest rate …
Fed policymakers embrace more rate hikes, markets a little less Read More »
By Jorgelina do Rosario (Reuters) -The executive board of the International Monetary Fund on Friday completed the first review of its $44 billion Extended Fund Facility for Argentina, its managing director said. The approval allows for the disbursement of about $4 billion. Kristalina Georgieva said on Twitter the approval marked the conclusion of an initial …
IMF board approves Argentina first review, unlocks $4 billion Read More »
(Reuters) -A U.S. federal appeals court on Friday put on hold the Food and Drug Administration’s ban on sales of Juul Labs Inc’s e-cigarettes, after the company appealed the health agency’s order and said the ban would cause it “irreparable harm”. The U.S. Court of Appeals for the District Of Columbia Circuit said the purpose …
Federal appeals court puts FDA ban on Juul e-cigarette sales on hold Read More »
By Elizabeth Howcroft, Tom Wilson and Hannah Lang LONDON (Reuters) -U.S. crypto firm Harmony said on Friday that thieves stole around $100 million worth of digital coins from one of its key products, the latest in a string of cyber heists on a sector long targeted by hackers. Harmony develops blockchains for so-called decentralised finance …
U.S. crypto firm Harmony hit by $100 million heist Read More »
By Lewis Krauskopf, Sruthi Shankar and Anisha Sircar (Reuters) – Wall Street’s main indexes soared on Friday in a broad rally as signs of slowing economic growth and a recent pullback in commodity prices tempered expectations for the Federal Reserve’s rate-hike plans. The S&P 500 rose over 3% for its biggest one-day percentage rise since …
By Mike Stone WASHINGTON (Reuters) -Raytheon Technologies Co and Northrop Grumman Corp have won U.S. contracts to continue developing missiles to intercept hypersonic weapons, four people briefed on the decision said on Friday. The decision means Lockheed Martin Co., the No. 1 U.S. defense contractor, which had also been competing for a contract, had been …
Northrop and Raytheon win key U.S. hypersonic defense contracts Read More »
WASHINGTON (Reuters) – If the United States does fall into a recession, it would likely be “relatively short,” with only modest increases in unemployment, and may look like U.S. downturns in the early 2000s, an International Monetary Fund official said on Friday. Nigel Chalk, deputy director of the IMF’s Western Hemisphere Department, said the depth …
Any U.S. recession would likely be short, shallow, IMF official says Read More »
(Reuters) – Celsius Network LLC has hired restructuring consultants from advisory firm Alvarez & Marsal to advise on a possible bankruptcy filing, the Wall Street Journal reported https://www.wsj.com/amp/articles/celsius-network-taps-more-advisers-to-prepare-for-potential-bankruptcy-11656088078?mod=Searchresults_pos1&page=1 on Friday, citing people familiar with the matter. The New Jersey-based cryptocurrency lending company froze withdrawals and transfers earlier this month due to “extreme” market conditions, in …
Celsius Network hires advisors to prepare for potential bankruptcy – WSJ Read More »
