PARIS (Reuters) – CMA CGM said on Friday that geopolitical and economic risks were clouding its outlook despite another surge in profits due to a saturated shipping market. French-based CMA CGM, one of the world’s largest container lines, reported a net profit of $7.2 billion for the first quarter, up from $2.1 billion in the…
By Andrea Shalal and Trevor Hunnicutt REHOBOTH BEACH, Del. (Reuters) -U.S. President Joe Biden compared Tesla unfavorably to Ford on Friday, while sarcastically wishing Chief Executive Elon Musk “lots of luck” on his “trip to the moon” after the billionaire expressed reservations about the economy. Musk wrote in an email to executives that he has…
(Reuters) -Russia’s National Settlement Depository (NSD), which Moscow had planned to use to service the country’s Eurobonds, will suspend transactions in euros after the European Union added the entity to its extended sanctions list, the NSD said on Friday. Earlier this week, Russia said it was replacing Citibank, which has stopped servicing the country’s Eurobonds,…
By Gabriela Baczynska BRUSSELS (Reuters) – The European Union on Friday blacklisted Russian military commanders who it said led troops involved in atrocities in Ukraine, describing them as the “butchers” of Bucha and Mariupol. Its latest sanction list also included Alina Kabaeva, whom it described as “closely associated” with President Vladimir Putin, although he has…
(Reuters) – Amazon.com Inc said on Friday the chief executive officer of its worldwide consumer business, David Clark, was leaving the company after 23 years of service to pursue other opportunities. Amazon CEO Andy Jassy said he expects to be ready with an update on Clark’s succession over the next few weeks. Clark’s last day…
(Reuters) -Twitter Inc said on Friday that the U.S. antitrust waiting period for Elon Musk’s $44 billion acquisition of the social media giant had expired, indicating it had dodged a lengthy review of the proposed deal. With the expiration, completion of the deal is now subject to remaining customary closing conditions, including approval by Twitter…
NEW YORK (AP) — The decision by Frontier Airlines to sweeten its offer for Spirit Airlines paid dividends Friday when an investor-advisory firm recommended the deal to Spirit shareholders. Glass Lewis supported the deal after Frontier added a $250 million breakup fee to the February agreement between boards of both budget airlines. The firm said…
By John O’Donnell and Sujata Rao FRANKFURT (Reuters) – Russia’s failure to send an interest payment to creditors is triggering a payout on debt insurance, taking the country another step closer to its first default on international bonds since the Bolshevik revolution more than a century ago. On Friday, the European Union expanded sanctions on…
LOS ANGELES (AP) — At a time when rising gasoline and food prices are already straining Americans’ budgets, many apartment tenants are grappling with soaring rents. The Miami-Fort Lauderdale-West Palm Beach metropolitan area in Florida saw overall median rent soar over 50% in April from a year ago, to $3,045 a month, according to Realtor.com….
By Howard Schneider and Lindsay Dunsmuir WASHINGTON (Reuters) – U.S. jobs gains of 390,000 in May and still strong wage growth leave the Federal Reserve on track for half point interest rate increases in June and July as the U.S. economy continued to show little evidence it is buckling under the pressure of high inflation…
