(Reuters) -Mondelez International Inc said on Monday it will buy energy bar maker Clif Bar & Company for $2.9 billion to expand its global snack bar business. The Cadbury maker will also pay additional amounts to the sellers depending upon its earnings from Clif Bar, Mondelez said. The company said it will get the Clif,…
DOHA (Reuters) – Cathay Pacific Airways, battered by strict quarantine rules that have led to a 98% fall in passenger numbers, is preparing to bring back more planes to rebuild Hong Kong’s hub status as restrictions ease, the airline’s chief executive said. “We have about one-third of our passenger fleet still parked in the desert,…
By Pete Schroeder WASHINGTON (Reuters) – Large U.S. banks are optimistic they will receive a clean bill of health from the Federal Reserve this week, freeing them up to distribute billions of dollars in excess capital to investors. The central bank on Thursday will release the results of its annual bank “stress tests” which assess…
TORONTO (Reuters) – U.S. Treasury Secretary Janet Yellen said on Monday that once some countries start implementing a global minimum tax on multi-national companies, other countries with a lower corporate tax rate would need to follow along or risk losing tax revenues “When some countries opt into this (minimum corporate tax) and put these taxes…
By Jonathan Stempel (Reuters) – A federal judge ruled that Dairy Queen cannot stop W.B. Mason Co from selling “Blizzard” bottled spring water, the same name the unit of Warren Buffett’s Berkshire Hathaway Inc uses for a popular ice cream product. In a 217-page decision made public on Friday, U.S. District Judge Susan Richard Nelson…
MONTREAL (Reuters) – Bombardier Inc has offered its workers on a key jet program a new and final contract that would deliver pay hikes of up to 18.5% over five years, according to a letter from their union seen by Reuters. Workers are set to vote on the contract on Wednesday and rejection would “automatically…
SAO PAULO (AP) — The chief executive of Brazil’s state-run oil giant Petrobras resigned on Monday amid political pressure from top lawmakers and President Jair Bolsonaro. José Mauro Coelho held the job for less than two months. A filing of the oil giant to Brazil’s security authority said that Coelho chose to resign, as lawmakers…
NAIROBI, Kenya (AP) — East Africa’s leaders have responded to the threat of war between Rwanda and Congo by instructing a new regional force to deploy in eastern Congo and ordering an immediate cease-fire. A statement after the leaders’ meeting in Kenya’s capital, Nairobi, didn’t give details on the date of the force’s deployment or…
By Rowena Edwards and Rod Nickel LONDON (Reuters) -Oil prices swung higher in volatile trading on Monday, as traders focused on tight supplies over slowing global economic growth. Brent crude futures gained 64 cents, or 0.6%, at $113.12 a barrel by 12:12 p.m. Eastern time (1612 GMT). The global benchmark tumbled 7.3% last week for…
BERLIN (AP) — The German government said Monday that it remains committed to its goal of phasing out coal as a power source by 2030, despite deepening worries about a cut in Russia’s gas supplies. Russia’s Gazprom announced last week that it was sharply reducing supplies through the Nord Stream 1 pipeline to Germany for…
