(Reuters) -The Bank of Canada expects to release baseline projections for the economy and inflation with its monetary policy report in October, its summary of deliberations released on Wednesday showed. The central bank had stopped giving definitive estimates for Canada’s economy from the second quarter and instead opted to lay out a range of projections …
(Reuters) -Honeywell said on Wednesday that it has divested all of its Bendix asbestos liabilities, as well as certain non-Bendix asbestos liabilities, to corporate liability acquisition platform Delticus. The company is streamlining operations, with a plan to split into three independently listed companies expected to be completed by next year. Honeywell inherited asbestos liabilities and …
Honeywell offloads asbestos liabilities to lift cash flow Read More »
By Milana Vinn and Elvira Pollina New York (Reuters) -Yahoo is in advanced talks to sell AOL to Italian technology company Bending Spoons for about $1.4 billion, four sources familiar with the matter said, as the Apollo Global Management-backed firm sheds one of the most recognizable names of the early internet era. The Milan-based app …
(Reuters) -Dating app Grindr on Wednesday named John North as its finance chief, replacing Vanna Krantz. North stepped down as CEO of U.S. recreational vehicles retailer Lazydays Holdings last year. Krantz, in July, had said she would step down once a successor is named. She was Grindr’s CFO for three years, during which she oversaw …
Grindr names veteran executive John North as finance chief Read More »
By Jonathan Stempel (Reuters) -Tyson Foods agreed to pay $85 million to settle a lawsuit by consumers who accused the largest U.S. meat company of conspiring with rivals to inflate pork prices by limiting supply in the $20 billion U.S. market. The preliminary class action settlement disclosed on Wednesday is the largest in more than …
Tyson Foods to pay $85 million in largest pork price-fixing settlement Read More »
By David French and Nivedita Balu NEW YORK/TORONTO (Reuters) -KKR is exploring a potential sale of its 40% stake in Pembina Gas Infrastructure, with its holding in the Canadian midstream operator expected to be valued at around $7 billion, four people familiar with the matter said on Wednesday. Pembina Gas Infrastructure was formed in 2022 …
By Nora Eckert DETROIT (Reuters) -Automotive executives are bracing for a freefall in U.S. electric-vehicle sales following the disappearance of a critical $7,500 tax break for buyers. “It’s a game-changer,” Ford CEO Jim Farley said during a Detroit event on Tuesday, just hours before the federal subsidy expired. Farley said he would not be surprised …
Car executives fear a collapse in EV sales as US tax subsidy vanishes Read More »
By Akash Sriram (Reuters) -Tesla is set to report its strongest quarter of the year on Thursday thanks to a U.S. rush to secure a $7,500 EV tax credit that expired earlier this week, but analysts expect the boost to be short-lived and European weakness to persist. The quarterly tally will help gauge how far …
Tesla to book best quarter of 2025 as buyers rush before EV credit expiry Read More »
By Nathan Gomes and Nora Eckert (Reuters) -U.S. auto sales are expected to rise about 6% for the third quarter, as Americans continue to buy cars at a surprisingly strong pace despite tariffs and other uncertainties. Several of the largest automakers on Wednesday reported healthy U.S. sales gains for the July-to-September period. General Motors and …
US auto sales keep motoring higher despite uncertainty Read More »
By Dietrich Knauth NEW YORK (Reuters) -Bankrupt auto parts supplier First Brands on Wednesday received a U.S. judge’s permission to proceed with the first phase of a $1.1 billion bankruptcy loan, giving the company an immediate infusion of $500 million as it tries to reorganize longer-term debt. U.S. Bankruptcy Judge Christopher Lopez approved the first …
First Brands obtains bankruptcy judge approval for $500 million rescue financing Read More »
