By Echo Wang (Reuters) – Former U.S. President Donald Trump’s new social media venture disclosed in a regulatory filing on Monday it may raise up to $50 million through convertible notes before it merges with a blank-check acquisition firm. Truth Media & Technology Group (TMTG) is set to receive $1.25 billion in funding once it…
By Rajesh Kumar Singh CHICAGO (Reuters) – United Airlines Holdings Inc on Monday raised its revenue estimate for the current quarter despite trimming capacity, underscoring a booming travel demand. The Chicago-based carrier now expects total revenue per available seat mile to be up 23%-25% from the same period in 2019, up from a prior forecast…
OMAHA, Neb. (AP) — BNSF railroad is tweaking its strict new attendance policy that upset workers, but the unions that challenged the rules since they took effect in February say the changes don’t go far enough. The railroad has told employees that starting next month it will make several small changes in the formula it…
Two months after the Berlin Wall fell, another powerful symbol opened its doors in the middle of Moscow: a gleaming new McDonald’s. It was the first American fast-food restaurant to enter the Soviet Union, reflecting the new political openness of the era. For Vlad Vexler, who as a 9-year-old waited in a two-hour line to…
(In this May 10 story, the date of ConocoPhillips shareholder meeting has been corrected in paragraph nine.) By Ross Kerber and Simon Jessop BOSTON/LONDON (Reuters) – Big Oil has enjoyed an easier ride at shareholder meetings so far this year compared with last year’s punishing run of hostile investor votes tied to climate concerns, as…
WASHINGTON (AP) — Jeff Bezos this weekend became the latest centibillionaire to launch a political fight on Twitter by denouncing a tweet from President Joe Biden about corporate taxes as “disinformation” and “misdirection.” The White House quickly retorted Monday that Bezos “opposes an economic agenda for the middle class.” And then Bezos fired back, arguing…
(Reuters) – Abbott Laboratories, the biggest U.S. supplier of powder infant formula including Similac, initiated a recall and closed its Sturgis, Michigan, manufacturing plant earlier this year after reports of serious bacterial infections in four infants. The recall and shutdown has worsened a baby formula shortage among multiple manufacturers that began with pandemic supply chain…
By Katie Paul (Reuters) -Twitter Inc CEO Parag Agrawal on Monday tweeted that internal estimates of spam accounts on the social media platform for the last four quarters were “well under 5%,” responding to acquirer Elon Musk’s criticism of the company’s handling of phony accounts. Agrawal said Twitter’s estimate, which has stayed the same since…
By Amruta Khandekar and Noel Randewich (Reuters) – Wall Street was mixed on Monday, with energy stocks rallying and Tesla and other growth stocks losing ground as downbeat Chinese economic data added to worries about a global slowdown and rising interest rates. China’s economic activity cooled sharply in April as widening COVID-19 lockdowns took a…
By Susan Heavey and Jeff Mason WASHINGTON (Reuters) -U.S. health regulators will announce action on baby formula imports as soon as Monday to address a nationwide shortage that has left parents scrambling to feed their babies, the Food and Drug Administration’s chief said. FDA Commissioner Robert Califf provided no details, but President Joe Biden said…
