SAN FRANCISCO (AP) — Elon Musk’s wealthy high tech allies don’t seem too happy about receiving subpoenas from Twitter as part of the company’s legal battle with the Tesla CEO. San Francisco-based Twitter is suing Musk in Delaware in an attempt to get him to complete his $44 billion acquisition of the social media company,…
SACRAMENTO, Calif. (AP) — Rent-A-Center, one of the nation’s largest rent-to-own companies, will pay $15.5 million to settle California’s allegations that it misled and overcharged tens of thousands of customers, Attorney General Rob Bonta said Tuesday. An investigation of the company’s “kiosk” business inside traditional retail furniture stores found that since 2014, it used what…
By Sabrina Valle (Reuters) – Brazil’s state-controlled oil company Petrobras will distribute at least twice as much as the biggest international oil producers in second quarter dividends, boosting the government’s coffers amid a tense presidential campaign. The five biggest Western oil producers – Exxon Mobil Corp, Chevron Corp., Shell PLC, TotalEnergies and BP – posted…
By Alexandra Alper and David Lawder WASHINGTON (Reuters) -Chinese investors roughly doubled the number of applications they made last year seeking U.S. regulatory clearance for proposed stakes in American companies, according to a new Treasury Department report released on Tuesday. The annual report https://home.treasury.gov/system/files/206/CFIUS-Public-AnnualReporttoCongressCY2021.pdf for the Committee on Foreign Investment in the United States (CFIUS),…
(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…
