By Camillus Eboh ABUJA (Reuters) – Nigerian airline Ibom Air on Saturday said it will not take part in an industry plan to stop flights from Monday over the high cost of jet fuel, saying the move would affect revenues needed to service obligations to financiers and suppliers. The Airline Operators of Nigeria association said …
Nigeria’s Ibom Air rejects industry plan to stop flights over jet fuel cost Read More »
HARARE (Reuters) – Zimbabwe’s government on Saturday ordered banks to stop lending with immediate effect in a move Harare said was designed to stop speculation against the Zimbabwean dollar and was part of a raft of measures to arrest its rapid devaluation on the black market. The southern African country reintroduced a local currency in …
Zimbabwe suspends bank lending in bid to arrest currency decline Read More »
By William Schomberg LONDON (Reuters) – Chelsea fans arriving at Stamford Bridge a few hours after a private equity-backed deal to buy the club was announced welcomed the prospect of a return to stability but expressed concern about the motivations of the new owners. Chelsea said in the early hours of Saturday that terms had …
Soccer-Chelsea fans wary of money men behind new prospective owners Read More »
By Jonathan Stempel (Reuters) – Elon Musk and Twitter Inc were sued on Friday by a Florida pension fund seeking to stop Musk from completing his $44 billion takeover of the social media company before 2025. In a proposed class action filed in Delaware Chancery Court, the Orlando Police Pension Fund said Delaware law forbade …
Musk’s $44 billion Twitter buyout challenged in shareholder lawsuit Read More »
(Reuters) – Canada’s Commissioner of Competition intends to oppose Rogers Communications Inc’s proposed C$20 billion ($16 billion) merger with Shaw Communications Inc, the companies said in a statement early Saturday. The Commissioner of Competition notified the companies on Friday afternoon of its intention to file applications to the Competition Tribunal opposing the merger. The companies …
Canada’s Commissioner of Competition plans to oppose Rogers, Shaw $16 billion merger Read More »
MEXICO CITY (Reuters) – Chile’s LATAM Airlines received backing by a majority of its unsecured creditors in its Chapter 11 bankruptcy exit plan, the airline said Friday. LATAM, which filed for bankruptcy in the United States in 2020 after being hit by the coronavirus-related travel downturn, said around 65% of its low-ranking creditors had backed …
Chile’s LATAM Air receives backing by unsecured creditors in Chapter 11 exit plan Read More »
By Hilary Russ and David Shepardson NEW YORK/WASHINGTON (Reuters) -Starbucks Corp has asked for a meeting with U.S. President Joe Biden’s administration after unionized workers talked to White House officials on Thursday, saying in a letter that most of its employees do not want to be members of a union. Separately, an official with the …
Starbucks asks White House for equal time after Biden met with union leaders Read More »
By Ann Saphir (Reuters) -Two of the Federal Reserve’s most outspoken policy hawks on Friday pushed back on the view that the U.S. central bank missed the boat on the fight against high inflation, citing a tightening of financial conditions that began well before the Fed began raising interest rates in March. “How far behind …
Fed hawks Waller, Bullard push back on ‘behind the curve’ view Read More »
By Jeffrey Dastin (Reuters) -A U.S. labor board official believes Amazon.com Inc violated federal law during mandatory staff meetings it held in New York City to discourage unionizing, a board spokesperson said on Friday, in what could lead to a new legal precedent. The Amazon Labor Union alleged the retailer forced workers at an Amazon …
Amazon’s captive staff meetings on unions illegal, labor board official finds Read More »
(Reuters) – Elon Musk is aiming to increase Twitter’s annual revenue to $26.4 billion by 2028, up from $5 billion last year, the New York Times reported on Friday, citing a pitch deck presented by the world’s richest man to investors. Advertising will fall to 45% of total revenue under Musk, down from about 90% …
Musk aims to quintuple Twitter’s revenue to $26.4 billion by 2028 -NYT Read More »
