Spirit Airlines is advising shareholders to reject a tender offer for shares from JetBlue three days after it went hostile in its bid to create what would be the nation’s fifth largest airline. Spirit repeated Thursday that any attempt to merge with the New York carrier would face substantial regulatory hurdles, largely because of JetBlue’s…
By Nivedita Balu (Reuters) -Grab Holdings Ltd, Southeast Asia’s No. 1 ride-hailing and food delivery firm, on Thursday forecast a rebound in its rideshare and food delivery businesses as economies recover from a pandemic-led slump. The company’s rideshare business has suffered due to pandemic-led restrictions in several markets, but the demand is now growing with…
WASHINGTON (AP) — More Americans applied for jobless aid last week, but the total number of Americans collecting unemployment benefits is at a 53-year low. Applications for unemployment benefits rose by 21,000 to 218,000 for the week ending May 14, the Labor Department reported Thursday. First-time applications generally track the number of layoffs. The four-week…
(Reuters) – McDonald’s Corp said on Thursday it has agreed to sell its Russian business to current licensee Alexander Govor, days after announcing it would exit the country. Govor will acquire McDonald’s entire restaurant portfolio and operate them under a new brand, McDonald’s said. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Arun Koyyur)
(Reuters) -Canada Goose Holdings Inc forecast annual earnings and revenue above Wall Street expectations after reporting a surprise quarterly profit on Thursday, encouraged by strong demand for its luxury parkas and jackets. U.S.-listed shares of the Toronto, Ontario-based company rose 10% before the bell, a day after a broad market sell-off triggered by poor results…
(Reuters) – Kohl’s Corp cut its full-year earnings forecast on Thursday, joining some of America’s biggest retailers in warning that a four-decades high inflation is starting to take a toll on profit margins and consumer spending power. Kohl’s shares have fallen about 11% this week as profit warnings from Walmart Inc and Target Corp added…
By David Shepardson WASHINGTON (Reuters) -Ford Motor Company said Thursday https://media.ford.com/content/fordmedia/fna/us/en/news/2022/05/19/ford-motor-company-recalls-expedition-navigator.html it was recalling 39,000 SUVs after reports of 16 fires, and has advised owners to park their vehicles outdoors and away from structures until a fix is completed. The recall, which covers some 2021 model year Ford Expedition and Lincoln Navigator vehicles, was prompted…
By Bernadette Christina and Fransiska Nangoy JAKARTA (Reuters) – Indonesian lawmakers on Thursday requested the government review a ban on palm oil exports after industry groups warned that one of the country’s leading sectors could grind to a halt in coming weeks as storage nears full capacity. Indonesia, the world’s top palm oil producer, has…
(Reuters) – Russia’s economy will contract by no more than 5% in 2022, presidential adviser Maxim Oreshkin said on Thursday, giving a much more optimistic forecast than the economy ministry. The ministry said this week it expected gross domestic product (GDP) to contract by 7.8% in 2022. Previously, it had said the economy was on…
KOENIGSWINTER, Germany (AP) — Finance ministers for the Group of Seven leading economies grappled Thursday with deepening inflation concerns and the immediate effects of Russia’s war in Ukraine, with U.S. Treasury Secretary Janet Yellen promising that the allies would put together enough additional aid to help Ukraine “get through this.” “All of us pledged to…
