By Richa Naidu and Ross Kerber LONDON/BOSTON (Reuters) – Ben & Jerry’s legal battle with Unilever sheds light on an issue affecting a growing number of purpose-led brands: how to maintain their identity after being bought by a major consumer company. Multinational consumer groups have raced to snap up socially conscious brands in recent years,…
(Reuters) -Activist investor Elliott Management has sold almost all of its remaining shares in SoftBank Group Corp after previously investing as much as $2.5 billion, the Financial Times reported on Tuesday citing unnamed sources. Elliott had already cut back its stake as the shares appreciated, supported by a record buyback programme. The Japanese conglomerate’s portfolio…
WASHINGTON (AP) — Democrats have pulled off a quiet first in their just-passed legislation addressing climate change and health care: the creation of a tax on stock buybacks, a cherished tool of Corporate America that had long seemed untouchable. Under the bill President Joe Biden is scheduled to sign into law Tuesday, companies will face…
By Anshuman Daga SINGAPORE (Reuters) – Asian markets struggled for direction on Tuesday, weighed by worries over global growth following weak China data that knocked oil prices and commodity-linked currencies. The dollar held near a one-week high as investors piled back into the safe-haven currency, while the Aussie, euro and Chinese yuan buckled. MSCI’s broadest…
By Devayani Sathyan (Reuters) – The Philippine central bank will follow its surprise July rate hike with a half-point point rise on Thursday and another quarter-point increase in September to catch up with its peers in containing soaring inflation, a Reuters poll forecast. Driven by higher transport and food prices, inflation in the Southeast Asian…
(Reuters) -U.S. regulators have been peppering firms offering funds that are marketed as sustainable with queries for several months, including how they lend out their shares and whether they recall them before corporate elections, Bloomberg News reported. The U.S. Securities and Exchange Commission’s probe is focused on whether managers of environmental, social and governance (ESG)…
By Cynthia Kim SEOUL (Reuters) – When Hwang Kwang-jo’s factory in Seoul faced a staffing crunch earlier this year after the departure of Nepalese workers and younger locals, he hired a 61-year-old to pick up some of the work. While the job, which involves handling heavy alloy bars, is less than ideal for workers close…
(Reuters) – A recovery in global business travel spending to pre-pandemic levels is likely to be delayed by 18 months to 2026 because of factors like persistent inflation, high energy prices, labour shortages and lockdowns in China, a new industry forecast shows. The Global Business Travel Association (GBTA) said business travel spending rebounded by 5.5%…
NEW YORK (AP) — Walmart Inc. said Monday it has signed a deal with Paramount Global to offer the entertainment company’s streaming service as a perk to subscribers of the discounter’s shipping subscription service. The move is part of efforts by the nation’s largest retailer to better compete with Amazon’s Prime membership program, which offers…
The Federal Aviation Administration said Monday that it was reducing flights in the area around New York City because of lack of staffing. Departing and arriving flights could be delayed up to two hours at John F. Kennedy International, LaGuardia and Newark (New Jersey) Liberty International airports, the FAA said. The agency said passengers should…
