FRANKFURT (Reuters) – Holiday group TUI said on Wednesday it raised about 425 million euros ($447 million) in its capital increase to pay back parts of a German state bailout it had received during the pandemic. TUI had taken on loans of 4.3 billion euros and been bailed out multiple times by the German government …
TUI raises $447 million in capital increase to further repay debt Read More »
(Reuters) – JPMorgan & Chase has resigned as a depositary of global depositary receipts (GDR) of Russia’s largest oil producer Rosneft on May 13, the U.S. bank said on its website. Last month, JPMorgan & Chase started to allow holders of depositary receipts in Russian companies to cancel them, two sources familiar with the matter …
JPMorgan says it has resigned as depositary for Rosneft GDRs Read More »
LONDON (Reuters) – U.S. investment bank JPMorgan backed Sri Lanka’s crisis-hit government bonds on Wednesday, saying recent political changes in the country should gradually improve its strains and help its talks with the International Monetary Fund. Adding an ‘overweight’ – effectively a buy recommendation – JPMorgan analysts said: “political stability should pave the way for …
JPMorgan backs Sri Lanka bonds on bets that crippling crisis to ease Read More »
By Svea Herbst-Bayliss BOSTON (Reuters) -Prominent hedge funds, including Point72 Asset Management and Bridgewater Associates, invested in Twitter during the first quarter, putting them on course to reap big gains early in the second quarter when billionaire Elon Musk unveiled plans to buy the company. Point72, run by Steven A. Cohen, bought 1.5 million common …
Prominent hedge funds invested in Twitter before Musk unveiled plans Read More »
(Reuters) -Netflix on Tuesday said it has laid off about 150 people, mostly in the United States, as the streaming service company faces slowing growth. The layoffs represent approximately 2% of the company’s workforce in the United States and Canada. “These changes are primarily driven by business needs rather than individual performance, which makes them …
Netflix lays off about 150 employees, mostly in the U.S Read More »
By Pete Schroeder (Reuters) – U.S. Democratic Senator Joe Manchin, who on occasions votes against his party in the evenly split Senate, said on Tuesday he intends to support Michael Barr for Federal Reserve vice chair for supervision. In a statement, Manchin said he met with Barr last week and believes Barr would be a …
U.S. Senator Manchin backs Michael Barr for top Fed regulatory job Read More »
By Krystal Hu (Reuters) – Billionaire Elon Musk’s SpaceX is poised to become the most valuable U.S. startup as its valuation rose to over $125 billion in an ongoing share sale in the secondary market, sources familiar with the matter told Reuters. The shares, which are marketed at about $72, jumped in valuation from last …
Elon Musk’s SpaceX is poised to become the most valuable U.S. startup Read More »
By Jonathan Stempel NEW YORK (Reuters) – Justin Chimienti thought the Big Mac he bought at McDonald’s and the Bourbon Bacon Cheeseburger he bought at Wendy’s would be as big and juicy as advertised. He says they were not, and now he is suing the fast-food chains. Chimienti sued McDonald’s Corp and Wendy’s Co on …
Where’s the beef? McDonald’s, Wendy’s are sued over burger sizes Read More »
(This story corrects to drop “Dr” title before Peter Pitts’ name in paragraph 11) (Reuters) – Abbott Laboratories, the biggest U.S. supplier of powder infant formula including Similac, has agreed with regulators on steps needed to resume production at its Sturgis, Michigan, manufacturing plant. Abbott initiated a recall of its infant formula products and closed …
What happened with Abbott baby formula that worsened a U.S. shortage? Read More »
By Noel Randewich and Amruta Khandekar (Reuters) – Wall Street finished sharply higher on Tuesday, lifted by Apple, Tesla and other megacap growth stocks after strong retail sales in April eased worries about slowing economic growth. Ten of the 11 major S&P sector indexes advanced, with financials, materials, consumer discretionary and technology all gaining more …
Wall Street ends sharply higher, fueled by Apple Read More »
