(Reuters) -Forbes said on Tuesday it was exploring a sale of its business and had hired Citigroup to manage the process, months after it pulled out of a deal to go public through a special purpose acquisition company (SPAC). “There were many interested parties, so we moved forward with a formal sale process and Citigroup…
(Reuters) – Media firm Forbes is exploring a sale of its business at a price of at least $630 million, the New York Times reported on Tuesday, citing four people with knowledge of the process. The publisher of Forbes magazine has tapped investment bank Citigroup to explore the sale of its business after a previous…
MILAN (AP) — Luxury Italian automaker Ferrari raised its 2022 forecast Tuesday after reporting a 22% increase in second-quarter earnings as sales in the Americas surged. The maker of high-performance luxury sports cars reported net profits of 251 million euros ($257 million) in April through June, up from 206 million euros in the same period…
NEW YORK (AP) — JetBlue Airways lost $188 million in the second quarter, as fuel costs nearly tripled and wiped out a large increase in revenue during the early part of the peak vacation-travel season. The loss reported Tuesday was wider than Wall Street expected. JetBlue was unable to keep pace with bigger rivals, who…
By Diane Bartz WASHINGTON (Reuters) -Horror author Stephen King said writers will have fewer places to shop their books if Penguin Random House is allowed to merge with Simon & Schuster, in testimony on Tuesday in a trial to determine if the deal may go forward. In a trial that began on Monday, the U.S….
MEXICO CITY (Reuters) – Subsidies from the Mexican government to combat rising inflation in the country have cost some 575 billion pesos ($28.04 billion) this year, officials said on Tuesday, adding that these have helped ease the pain of ordinary people. The majority of that money, totaling 430 billion pesos, has gone to subsidizing gasoline…
LONDON (AP) — British Airways said Tuesday that it’s suspending sales of short-haul flights from London’s Heathrow Airport, a response to the airport’s request to limit bookings to help ease travel disruptions caused by booming demand and staff shortages. The suspension applies to new bookings for domestic U.K. and European destinations departing from Heathrow, Britain’s…
WASHINGTON (AP) — American employers posted fewer job openings in June as the economy contends with raging inflation and rising interest rates. Job openings fell to a still-high 10.7 million in June from 11.3 million in May, the Labor Department said Tuesday. Job openings, which never exceeded 8 million in a month before last year,…
DUBAI (Reuters) – Saudi Arabia has set up an agency to promote investment in the country, a key goal of an ambitious economic reform agenda, the investment minister and state media said on Twitter, citing a cabinet decision. The Saudi Investment Promotion Authority “will be a strong supporter of the investment system in its quest…
MILAN (Reuters) – Italy’s communication authority said on Tuesday it had fined tech giant Google, owned by parent company Alphabet, 750,000 euros ($766,350) for allegedly breaching a ban on gambling advertising on its YouTube video platform. Italy’s AGCOM said in a statement that it had also fined TOP ADS, the creator of the advertisement content,…
