ST. LOUIS (AP) — Nearly 2,500 workers at three Boeing defense plants in the Midwest voted Wednesday to ratify a contract that their union said will raise pay by an average of 14% over three years and add inflation adjustments. The vote by members of the International Association of Machinists and Aerospace Workers came less…
SAO PAULO (Reuters) -South American e-commerce giant MercadoLibre Inc reported on Wednesday that its second-quarter net income rose 79.8% year-on-year, beating earnings forecasts. The company, present in 18 countries including Brazil, Mexico and Colombia, reported a net income for the three-month period of $123 million, beating a Refinitiv forecast of $98.9 million. After the results,…
By Ruhi Soni (Reuters) – Canada’s Nutrien Ltd beat second-quarter profit estimates on Wednesday, fueled by soaring prices of crop nutrients which more than offset higher natural gas costs and lower sales volumes. However, the world’s largest fertilizer producer lowered its full-year adjusted profit forecast as it expects higher natural gas costs to hurt its…
By Jonathan Stempel (Reuters) – Twitter Inc and Elon Musk, who are suing each other over the world’s richest person’s effort to exit their $44 billion merger, couldn’t even agree on how much to tell the public about their dispute. The presiding judge, Chancellor Kathleen McCormick of Delaware Chancery Court, ruled on Wednesday that Musk’s…
By Jonathan Stempel NEW YORK (Reuters) – Tyson Foods Inc, one of the largest U.S. meat producers, is refusing to comply with a subpoena for a civil probe into possible price gouging during the COVID-19 pandemic, New York’s attorney general said on Wednesday. Letitia James, the attorney general, asked a state judge in Manhattan to…
WASHINGTON (AP) — President Joe Biden traveled to Saudi Arabia last month on the possibility that he could get some additional oil production out of OPEC+ in coming weeks, but the cartel and other nations announced a scant increase Wednesday. The White House responded by stressing that what matters is the steady decline in oil…
By Lindsay Dunsmuir and Dan Burns (Reuters) – Federal Reserve officials voiced their determination again on Wednesday to rein in high inflation, although one noted a half-percentage-point hike in the U.S. central bank’s key interest rate next month might be enough to march on toward that goal. “I start from the idea that 50 (basis…
By Maha El Dahan and Ahmad Ghaddar DUBAI/LONDON (Reuters) – OPEC+ is set to raise its oil output goal by 100,000 barrels per day, an amount analysts said was a setback to U.S. President Joe Biden after his trip to Saudi Arabia to ask the producer group’s leader to pump more to help the United…
By Jessica DiNapoli NEW YORK (Reuters) -Ben & Jerry’s independent board said parent company Unilever Plc, with which it is locked in a dispute over the sale of its Israeli business, had frozen its directors’ salaries in July as a pressure tactic ahead of a mediation on the matter. The Cherry Garcia ice cream maker…
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. services industry unexpectedly picked up in July as new orders grew solidly, supporting views that the economy was not in recession despite output slumping in the first half. The Institute for Supply Management (ISM) survey on Wednesday also showed supply bottlenecks were easing, with a measure of…
