Glass Lewis backs six of Ancora's nominees for Norfolk Southern board
(Reuters) - Proxy adviser Glass Lewis recommended Norfolk Southern shareholders vote for six of Ancora Holdings' nominees for board seats at the railroad company, including proposed CEO Jim Barber, in a big win for the activist investor. In a repor...
43m ago
EU to probe Meta over handling of Russian disinformation, FT reports
(Reuters) -European Union regulators are expected to open a probe into Meta Platforms over concerns that the company is failing to do enough to counter disinformation from Russia and other countries, the Financial Times reported on Monday. Regulators s...
1h ago
Turkish grocery delivery company Getir pulls out of Europe, U.S.
ISTANBUL (Reuters) - Turkish grocery delivery company Getir said on Monday it was withdrawing from its European and U.S. markets to focus on its main Turkish market. In a statement, Getir also said it had secured new financing from Mubadala and G S...
1h ago
Inflation-wary US rate options market cautiously prices for 2024 Fed hike
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Options on Secured Overnight Financing Rate (SOFR) futures are showing a higher probability that the Federal Reserve could hike interest rates a quarter percentage point this year and next as U.S. in...
1h ago
China's BYD shows effects of price war with weaker profit growth
BEIJING (Reuters) - Chinese electric vehicle (EV) maker BYD posted its weakest quarterly profit growth since 2022 on Monday, hit by slowing EV demand and a bruising price war in the world's largest auto market. First-quarter net profit was up 10.6%...
1h ago
Morning Bid: Yen bounces from 160 per dollar in busy Fed-led week
A look at the day ahead in U.S. and global markets from Mike Dolan A week jam-packed with major market events kicked off with some wild action in Japan's yen during a public holiday there, with a withering drop in the currency to 34-year lows of 160 per dollar meeting predictable intervention speculation that triggered...
2h ago
Futures inch up as megacaps extend gains, Fed verdict on tap
(Reuters) - U.S. stock index futures edged higher on Monday as Tesla and Apple led gains in megacap companies while markets awaited the Federal Reserve's interest rate decision later in the week. Tesla shares jumped 7.3% premarket after the electri...
2h ago
Thousands of hotel workers to rally in 18 cities ahead of contract negotiations
By Doyinsola Oladipo NEW YORK (Reuters) - Unionized hotel workers demanding significant pay raises will rally on May Day in 18 U.S. and Canadian cities, as talks are beginning with operators Marriott International, Hilton Worldwide Holdings and Hya...
2h ago
Domino's Pizza beats sales expectations as orders thrive
(Reuters) -Domino's Pizza topped Wall Street expectations for first-quarter same-store sales on Monday, as consumers in the United States tapped into the pizza chain's spruced-up loyalty program and other promotional offerings. Shares of the company ro...
2h ago
Fed in a holding pattern as inflation delays approach to any soft landing
By Howard Schneider WASHINGTON (Reuters) - Inflation showing no recent sign of slowing or narrowing in scope leaves U.S. Federal Reserve policymakers challenged this week over how to characterize their next steps even as the countdown to a contenti...
2h ago
Chinese spend more on diapers and Colgate despite economic woes
By Jessica DiNapoli NEW YORK (Reuters) - Chinese shoppers are spending a little more on diapers and some Colgate toothpastes, according to executives at the makers of these products, even as consumers fret about the country's property crisis and fa...
2h ago
Fulton Financial jumps after buying failed Republic First Bank's deposits, assets
(Reuters) - Fulton Financial's shares jumped on Monday after it bought the deposits and assets of Republic First from the Federal Deposit Insurance Corporation, in what is the first U.S. bank failure of 2024. Regional banks have been struggling to ...
2h ago
Turkish Airlines in talks with Airbus, Boeing to buy 235 planes
By Ceyda Caglayan and Can Sezer ISTANBUL (Reuters) - Turkish Airlines is negotiating with both Airbus and Boeing about buying 235 aircraft as part of its expansion plans, Chairman Ahmet Bolat said on Monday. The airline's 10-year fleet plan, unveil...
2h ago
US auto regulator opens preliminary evaluation into Ford's Mustang Mach-E vehicles
(Reuters) - The U.S auto regulator opened a preliminary evaluation into about 130,050 Ford Mustang Mach-E vehicles on Monday over reports of the cars colliding with in-road stationary vehicles. (Reporting by Harshita Meenaktshi in Bengaluru; Edit...
2h ago
Apple's iPadOS designated as gatekeeper under EU tech rules, EU says
BRUSSELS (Reuters) - EU antitrust regulators on Monday designated Apple's operating system for iPads as a gatekeeper under the bloc's landmark tech rules subject to strict obligations aimed at ensuring a level playing field for rivals and more choi...
2h ago
BHP adviser canvassing investor views on improved Anglo bid, sources say
By Scott Murdoch and Melanie Burton SYDNEY (Reuters) - An adviser to BHP on its $39 billion Anglo American bid is seeking views from some of its shareholders as the miner weighs making a revised offer after its initial proposal was rejected last we...
3h ago
Explainer-What is Tesla's Full Self-Driving and why its China rollout matters
By Qiaoyi Li and Brenda Goh BEIJING (Reuters) - Tesla CEO Elon Musk arrived in Beijing on Sunday on an unannounced visit, where he was expected to discuss the rollout of Full Self-Driving (FSD) software and permission to transfer data overseas, acc...
4h ago
China to extend tariff exemptions for imports of some US products until Nov 30
BEIJING (Reuters) - China will extend tariff exemptions for imports of some U.S. products until Nov. 30, the finance ministry said in a statement on Monday. The additional exemptions that take effect on Wednesday follow current exemptions that expi...
4h ago
China's AgBank posts 1.63% fall in Q1 profit
BEIJING/SHANGHAI (Reuters) - Agricultural Bank of China Ltd (AgBank) reported a 1.63% fall in first-quarter net profit on Monday. Net profit for the three months ended March totalled 70.39 billion yuan ($9.71 billion), compared with 71.55 billion y...
4h ago
Explainer-The trio of problems dogging Deutsche Bank's Postbank arm
By Tom Sims FRANKFURT (Reuters) -Deutsche Bank has warned a protracted lawsuit claiming it underpaid for Postbank could cost Germany's largest lender up to 1.3 billion euros ($1.39 billion). Deutsche acquired the no-frills Postbank during the financial...
4h ago
FTSE 100 continues record run boosted by Anglo American, AstraZeneca
(Reuters) - Britain's FTSE 100 extended a record rally on Monday, driven by gains in Anglo American after a report said BHP Group was considering a better buyout proposal and AstraZeneca after it reported progress in some treatments. The blue-chip ...
4h ago
Blackstone outbids Concord in $1.6 billion takeover battle for Hipgnosis
(Reuters) - Blackstone has agreed to acquire Hipgnosis Songs Fund for about $1.57 billion, after the private equity giant outbid rival suitor Concord in the takeover battle for the music owner of artists such as Shakira and Red Hot Chili Peppers. B...
4h ago
Agrochemicals company Syngenta posts big drop in Q1 sales, earnings
ZURICH (Reuters) -Seeds and pesticides maker Syngenta suffered big drops in first quarter sales and profit, the company said on Monday, just a few weeks after the Swiss company shelved its plans for a $10 billion flotation. Sales fell 20% to $7.4 billi...
6h ago
Deutsche Bank falls 5.5% after Postbank announcement
FRANKFURT (Reuters) -Deutsche Bank shares were 5.5% lower in early trade on Monday after news that Germany's largest lender could be on the hook for up to 1.3 billion euros ($1.39 billion) in a yearslong lawsuit claiming it underpaid in its purchase of...
6h ago
Blackstone-owned Crown Resorts to cut up to 1,000 jobs as challenges mount
(Reuters) - Blackstone-owned Crown Resorts will cut up to 1,000 roles in Melbourne, Perth and Sydney, it said on Monday, as weak economic conditions continue to impact its business and as it struggles to keep up with regulatory obligations. The job...
6h ago