Exclusive-Chinese EV maker Zeekr prices US IPO at top of range to raise $441 million, source says
By Echo Wang NEW YORK (Reuters) - Chinese electric vehicle maker Zeekr Intelligent Technology priced its U.S. initial public offering (IPO) at the top of its indicated range on Thursday, raising $441 million, a person familiar with the matter said....
2h ago
Tesla interfered with union organizing at New York plant, US agency claims
By Daniel Wiessner (Reuters) - Tesla has been accused by a U.S. labor agency of discouraging workers at a Buffalo, New York assembly plant from union organizing by barring them from using phones and other devices, an agency spokeswoman said on Thur...
3h ago
Peru's poverty rate ticks up for second straight year
By Marco Aquino LIMA (Reuters) - Peru's poverty rate rose again last year, official data showed on Thursday, as South America's fourth biggest nation struggles to emerge from a painful recession amid ongoing political turbulence blamed in part for ...
3h ago
Western Union resumes remittance service to Cuba after 3-month outage
HAVANA (Reuters) - Western Union confirmed on Thursday it had resumed its remittance service from the U.S. to Cuba after the system collapsed more than three months earlier, restoring a vital lifeline for Cubans and their friends and families in th...
3h ago
Exclusive-Power producer Calpine explores options including $30 billion sale, sources say
By David French (Reuters) - The investment firms that took U.S. power plant operator Calpine Corp private six years ago are exploring options that include a company sale, an initial public offering or a stake divestment at a valuation of about $30 ...
4h ago
BP looking to buy Tesla's Supercharger sites in US, Bloomberg reports
(Reuters) -BP's electric charging unit is keen on buying Tesla's Supercharging sites in the United States, Bloomberg News reported on Thursday. BP "is aggressively looking to acquire real estate to scale our network, which is a heightened focus follow...
4h ago
Pilates chain Solidcore explores sale, sources say
By Abigail Summerville NEW YORK (Reuters) - Pilates studio operator Solidcore is exploring options including a potential sale that could value the fitness chain at more than $750 million, including debt, people familiar with the matter said on Thur...
4h ago
Venezuela president's son says country is open to paying $10 billion debt to China
By Deisy Buitrago CARACAS (Reuters) - Venezuela is open to paying its $10 billion debt to China, lawmaker Nicolas Maduro Guerra, son of President Nicolas Maduro, told Reuters in an interview on Thursday. Venezuela's relationship with China is "foo...
4h ago
T-Mobile, Verizon in talks to buy parts of US Cellular, WSJ reports
(Reuters) - T-Mobile and Verizon Communications are in talks to buy parts of United States Cellular in separate transactions, the Wall Street Journal reported on Thursday. Shares of the regional wireless carrier jumped about 8.6% to $39.08. T-Mobil...
4h ago
Citgo Petroleum reports first quarter profit of $410 million
HOUSTON (Reuters) -Oil refiner Citgo Petroleum on Thursday reported its first quarter net fell 56% to $410 million, from $937 million in the same period a year ago. The Venezuela owned company said it throughput rose to 830,000 barrels per day, the thi...
5h ago
GSM Outdoors' owner explores sale of hunting gear maker, sources say
By Abigail Summerville NEW YORK (Reuters) - The private equity owner of Good Sportsman Marketing Outdoors is exploring a sale of the hunting and fishing gear maker that could value it at about $1.5 billion, including debt, according to people famil...
5h ago
OPEC switches to 'call on OPEC+' in global oil demand outlook, sources say
By Alex Lawler LONDON (Reuters) - OPEC will stop publishing a calculation of the world's demand for its own crude in its monthly oil report, two sources close to the matter said, focusing instead on forecasts for demand for oil from the wider OPEC+...
5h ago
US Supreme Court rules against Warner Music in copyright damages case
By Blake Brittain WASHINGTON (Reuters) - The U.S. Supreme Court on Thursday ruled in favor of a Miami music producer in a legal fight with Warner Music over a song by rapper Flo Rida, resolving a dispute over the time limit for claiming monetary da...
7h ago
US Transportation Department watchdog to audit FAA over United Airlines maintenance practices
WASHINGTON (Reuters) - The U.S. Transportation Department's watchdog will audit the Federal Aviation Administration's oversight of United Airlines maintenance practices, the Office of Inspector General said on Thursday. "Specifically, we will evalu...
7h ago
TikTok to label AI-generated images, video from OpenAI and elsewhere
By Stephen Nellis (Reuters) - TikTok said on Thursday it would start using a technology aimed at helping it label images and video generated by artificial intelligence and uploaded to the video sharing service. TikTok said it would adopt "Content C...
7h ago
Airbnb slumps as gloomy forecast fans slowdown fears
(Reuters) - Airbnb shares tumbled more than 8% premarket on Thursday after weak forecasts for the second quarter stoked investor fears about slowing growth at the vacation rental firm and took the shine off a strong quarterly profit beat. The Easte...
7h ago
Bank of Canada says debt, asset valuations are key risks to stability
By David Ljunggren OTTAWA, May 9 (Reuters) - The Canadian financial system remains resilient but the continuing adjustment to higher rates and possible shocks present key risks to stability, Bank of Canada Governor Tiff Macklem said on Thursday. Intere...
7h ago
IMF maintains Nigeria growth forecast at 3.3% for 2024
ABUJA (Reuters) - The International Monetary Fund on Thursday maintained its growth forecast of 3.3% for Nigeria's economy for 2024, up from 2.9% last year, citing a pick up in services and trade sectors. It added that outlook for growth was still ...
8h ago
US auto safety agency raises concerns on Ford SUV recall
WASHINGTON (Reuters) - A U.S. auto safety agency said on Thursday it has "significant safety concerns" over Ford Motor's recall of more than 42,000 SUVs over concerns fuel leaks could lead to an engine fire. The National Highway Traffic Safety Admi...
8h ago
Trump vows to target electric vehicles in meeting with oil CEOS -report
WASHINGTON (Reuters) - Republican presidential candidate Donald Trump vowed to reverse dozens of the Biden administration's environmental rules and policies at a meeting with top U.S. oil executives, where he also asked them to raise $1 billion for...
9h ago
Italy seeks to ease fears over curbs on costly home incentives
By Giuseppe Fonte ROME (Reuters) - Italy has no plans to backdate upcoming curbs on costly fiscal incentives for home renovations to before 2024, a junior Treasury minister said on Thursday, in an effort to ease fears about the impact of the restri...
9h ago
US weekly jobless claims increase more than expected
WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits increased more than expected last week as the labor market steadily eases. Initial claims for state unemployment benefits increased 22,000 to a seasonally ad...
9h ago
Nestle's Nescafe to invest $196 million in Brazil by 2026 to tap surging demand
By Roberto Samora SAO PAULO (Reuters) - Nestle plans to invest 1 billion reais ($196.5 million) in Brazil by 2026 to expand production capacity and out-of-home sales of its Nescafe lines, targeting younger consumers, executives told Reuters. The co...
10h ago
Warner Bros Discovery misses estimates for quarterly revenue
(Reuters) -Warner Bros Discovery missed Wall Street estimates for first-quarter revenue on Thursday, weighed down by a weak advertising market and strike-related delays at its studio segment. Shares of the company were down 1.9% in premarket trading. S...
10h ago
Brembo Q1 operating profit rises on record sales
(Reuters) - Italian premium brake maker Brembo posted on Thursday an 8.5% yearly increase in first-quarter operating profit as revenues grew to a record 1 billion euros in the quarter. Brembo's January-March operating profit (EBIT) stood at 112.8 m...
10h ago