MEXICO CITY (Reuters) – Chile’s LATAM Airlines received backing by a majority of its unsecured creditors in its Chapter 11 bankruptcy exit plan, the airline said Friday. LATAM, which filed for bankruptcy in the United States in 2020 after being hit by the coronavirus-related travel downturn, said around 65% of its low-ranking creditors had backed…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Southwest Gas Holdings reached a settlement on Friday with Carl Icahn that will replace the company’s chief executive and hand as many as four board seats to the billionaire investor. The settlement ends a months-long battle Icahn launched with the Las Vegas, Nevada-based company in October as it…
NEW YORK (AP) — The National Labor Relations Board has found merit in a union charge that Amazon violated labor law in New York City’s Staten Island by holding mandatory worker meetings to persuade its employees not to unionize. The labor board has in the past allowed employees to mandate such meetings, which are routinely…
(Reuters) -A consortium led by LA Dodgers part-owner Todd Boehly and backed by Clearlake Capital has won the bid to acquire Premier League club Chelsea in a deal worth up to 4.0 billion pounds, Britain’s Telegraph newspaper reported on Friday. The proposal has now been sent to the government and Premier League for approval. With…
By Hilary Russ and David Shepardson NEW YORK/WASHINGTON (Reuters) -Starbucks Corp has asked for a meeting with U.S. President Joe Biden’s administration after unionized workers talked to White House officials on Thursday, saying in a letter that most of its employees do not want to be members of a union. Separately, an official with the…
(Reuters) – Elon Musk is aiming to increase Twitter’s annual revenue to $26.4 billion by 2028, up from $5 billion last year, the New York Times reported on Friday, citing a pitch deck presented by the world’s richest man to investors. Advertising will fall to 45% of total revenue under Musk, down from about 90%…
(Reuters) – Two of the Federal Reserve’s most outspoken policy hawks on Friday pushed back on the view that the U.S. central bank has missed the boat on the fight against high inflation, citing a tightening of financial conditions that began well before the Fed began raising interest rates in March. “How far behind the…
By Echo Wang (Reuters) – Wall Street’s main indexes extended losses on Friday as investors worried that the Federal Reserve will need to be more aggressive than expected in raising interest rates to combat inflation. The tech-heavy Nasdaq registered its lowest close since 2020, notching a fifth straight weekly loss, its longest losing streak since…
NEW YORK (Reuters) – Hedge funds posted gains of 2.33% in April, mostly driven by macro funds, which managed to perform well amid high volatility, a report by hedge fund data provider HFR showed on Friday. Macro hedge funds, which bet on macroeconomics trends, rose 5.49% in the quarter, according to a macro fund asset…
By Blake Brittain (Reuters) -A Delaware jury on Friday ordered Illumina Inc to pay more than $333 million to a U.S. unit of Chinese genetic analysis company BGI Genomics after finding that Illumina’s DNA-sequencing systems infringed two patents. The jury also said https://tmsnrt.rs/39K62Cz Illumina infringed the patents willfully, and that three patents it had accused…
