JetBlue launched a hostile takeover bid for Spirit Airlines on Monday and asked shareholders of the low-cost carrier to reject a proposed acquisition by Frontier Airlines. JetBlue hopes that its move will push Spirit’s board to the negotiating table after the board rejected an earlier offer. Spirit said that it will “carefully review” JetBlue’s tender…
(Reuters) – McDonald’s Corp said on Monday it had initiated a process to sell its business in Russia after 30 years of operating its restaurants in the country, following Moscow’s invasion of Ukraine. In March, McDonald’s closed all its restaurants in Russia including its iconic Pushkin Square location. As part of the exit, the company…
McDonald’s is closing its doors in Russia, ending an era of optimism and increasing the country’s isolation over its war in Ukraine. The Chicago burger giant confirmed Monday that it is selling its 850 restaurants in Russia. McDonald’s said it will seek a buyer who will employ its 62,000 workers in Russia, and will continue…
By Trevor Hunnicutt WASHINGTON (Reuters) – The Biden administration is increasingly feeling it has little control over short-term inflation, officials say, and is looking for ways to offset the political risk from price hikes in the months leading up to November’s elections. Data last week showed inflation still at 40-year highs, but slightly off an…
BRUSSELS (AP) — The European Union’s efforts to impose a new round of sanctions against Russia over the war in Ukraine appeared to be bogged down on Monday, as a small group of countries opposed a ban on imports of Russian oil. Since Russia invaded on Feb. 24, the bloc has implemented five rounds of…
LONDON (Reuters) – More than 50 economists warned on Monday that Britain’s post-Brexit plans to boost the competitiveness of its huge finance industry risked creating the kind of problems that led to the global financial crisis. The government, seeking to use its “Brexit freedoms”, announced this month that it would require regulators to help the…
FRANKFURT (Reuters) – The European Central Bank may kick off the development of its digital euro, an electronic version of banknotes and coins, by the end of next year, ECB board member Fabio Panetta said on Monday. “Finally, at the end of 2023 we could decide to start a realisation phase to develop and test…
LONDON (Reuters) – European stock indexes opened lower on Monday, after oil prices slid and riskier currencies took a hit during the Asian session as unexpectedly weak economic data from China highlighted fears about a slowdown in growth. China’s April retail sales plunged 11.1% on the year, almost twice the fall forecast, as full of…
(Reuters) -Billionaire Gautam Adani’s conglomerate plans to buy Switzerland-based Holcim AG’s cement businesses in India for $10.5 billion, becoming the country’s No. 2 cement manufacturer in its largest-ever acquisition. Under the deal, the biggest in India since 2018, Adani Group will pay $6.4 billion in cash to acquire Holcim’s 63.1% stake in Ambuja Cements Ltd…
By Michael Shields DAVOS, Switzerland (Reuters) – Movers and shakers arriving for the annual meeting of the World Economic Forum (WEF) this month can pack sandals instead of ski boots for a rare springtime version of the event in Davos, the Swiss ski resort that is Europe’s highest city. In December, organisers postponed the meeting…
