April 2022

(Reuters) -An Australian court fined Trivago, a unit of U.S.-based online travel firm Expedia Group, A$44.7 million ($32.91 million) for misleading consumers over hotel room rates, in what would be one of the country’s largest payouts for breaching consumer law. The Federal Court issued https://www.accc.gov.au/media-release/trivago-to-pay-447-million-in-penalties-for-misleading-consumers-over-hotel-room-rates the fine on Friday after finding Trivago, a hotel booking…

By Sonali Paul (Reuters) – Oil prices fell on Friday, heading for a drop of nearly 4% for the week, burdened by the prospect of rate hikes, weaker global growth and COVID-19 lockdowns in China hurting demand, even as the European Union weighed a ban on Russian oil. Brent crude futures slid 81 cents, or…

TOKYO (Reuters) – Shares of Toshiba Corp jumped more than 3% on Friday, after the Japanese conglomerate said it would solicit deal offers, including on a potential buyout, bolstering hopes of a lucrative exit for its hedge fund investors. The Japanese conglomerate, which has been locked in a long-battle with some of its major shareholders…

By Makiko Yamazaki and Yuki Nitta TOKYO (Reuters) – When Japan’s biggest banks helped finance a $34 billion deal last year for medical supply maker Medline, one of the largest leveraged buyouts since the financial crisis, the famously cautious lenders signalled their ambitions in riskier, and more lucrative, low-grade U.S. debt. Mitsubishi UFJ Financial Group…

(Reuters) -Warner Bros Discovery announced on Thursday it would shut down its CNN+ streaming news service less than a month after its highly touted launch. The service, which sought to capitalize on the popularity of streaming video and the growth of digital news subscriptions, will cease operations on April 30. The executive who helped design…

By Andrea Shalal WASHINGTON (Reuters) – The global development finance system needs urgent reforms and far more private capital to address the multiple, overlapping crises that are pushing 250 million people back into extreme poverty, major public and private groups said in a statement. The statement, signed by Woochong Um, head of the Asian Development…

By Svea Herbst-Bayliss BOSTON (Reuters) – McDonald’s Corp on Thursday said Carl Icahn’s call for the fast food chain to stop buying pork from suppliers that house the animals in crates would be logistically unfeasible and prohibitively expensive. The billionaire investor, who owns roughly $50,000 worth of McDonald’s stock, is pushing the company to change…

By Maria Caspani and Dawn Chmielewski (Reuters) -Florida lawmakers gave legislative approval on Thursday to a bill stripping Walt Disney Co of its designation as a self-governing entity in an apparent response to its opposition to a new state law limiting discussion of LGBTQ issues in schools. Approval from Governor Ron DeSantis, a potential 2024…

By Andrea Shalal WASHINGTON (Reuters) -A White House adviser on Thursday suggested the United States could lower tariffs imposed on a host of non-strategic Chinese goods such as bicycles or apparel to help combat inflation. Deputy National Security Adviser Daleep Singh said tariffs imposed by the former Trump government may have given the administration some…