By Stephanie Kelly NEW YORK (Reuters) -Oil prices on Tuesday climbed to their highest since 2014 as possible supply disruption after attacks in the Mideast Gulf added to an already tight supply outlook. Brent crude futures rose 77 cents, or 0.9%, to $87.25 a barrel at 11:05 a.m. EST (1605 GMT). U.S. West Texas Intermediate…
WASHINGTON (Reuters) – The Biden administration is “actively engaged” with wireless carriers, airlines, airplane manufacturers and key federal agencies to address a looming aviation crisis, a senior administration official told Reuters. Airlines are preparing to cancel a significant number of passenger and cargo flights in the coming hours to prepare for AT&T and Verizon’s new…
(Reuters) – Volkswagen and autos supplier Bosch are planning to form a joint venture to build the machinery to equip Volkswagen’s battery cell factories, German monthly Manager magazine reported on Monday, citing anonymous sources. The details of the partnership were not yet determined but Volkswagen board member Thomas Schmall and Bosch’s production and technology chief…
By Subrat Patnaik (Reuters) – Microsoft Corp said on Tuesday it was acquiring “Call of Duty” videogame maker Activision Blizzard for $68.7 billion in cash, the biggest deal in the sector that would help the Xbox maker become the third-largest gaming company by revenue. Microsoft’s offer of $95 per share is at a premium of…
By Priyanshi Mandhan (Reuters) -IHG said on Tuesday finance industry veteran Deanna Oppenheimer will become the Holiday Inn-owner’s first female chair when she replaces long-serving Chairman Patrick Cescau after his retirement later this year. Cescau, 73, will retire at the end of August after almost a decade in the role and Oppenheimer will take over…
MADRID (Reuters) – The world tourism industry barely improved last year compared to 2020, with all indicators staying way below pre-pandemic levels and industry professionals not expecting a full recovery before 2024, the World Tourism Organization (UNWTO) said on Tuesday. The tourism industry suffered a huge blow in 2020 as a result of lockdowns and…
By Bansari Mayur Kamdar (Reuters) -Futures tracking the technology-heavy Nasdaq 100 index slumped almost 2% on Tuesday as traders returned from a long holiday weekend to position for a more hawkish Federal Reserve ahead of a policy meeting next week. Rate-sensitive tech stocks came under pressure as two-year Treasury yields, which track short-term rate expectations,…
By Akriti Sharma, Ross Kerber and Simon Jessop BOSTON/LONDON (Reuters) -Larry Fink, chief executive of the world’s biggest asset manager BlackRock Inc, has defended its focus on the interests of society as well as on profits as business sense, but drew criticism from campaigners for not going far enough. Asset managers increasingly analyse corporate performance…
(Reuters) – Activist hedge fund Macellum Advisors GP LLC said on Tuesday Kohl’s Corp should explore strategic alternatives, including a sale, if the department store chain’s board is “unwilling to pursue improvements.” Macellum also said there were well-capitalized strategic and financial buyers that could pay a meaningful premium to acquire Kohl’s. (Reporting by Praveen Paramasivam…
By Silke Koltrowitz ZURICH (Reuters) -Swiss chocolate maker Lindt & Spruengli expects sales of its upmarket chocolates to grow less in 2022 than last year, it said on Tuesday, and blamed supply chain bottlenecks for a slowdown in late 2021 in North America. The maker of the best-selling Lindor chocolate balls, which has maintained spending…
