OMAHA, Neb. (AP) — CSX has hired an auto industry executive to lead the railroad after its current CEO retires. Jacksonville, Florida-based CSX Corp. said Thursday that Joe Hinrichs will take over from Jim Foote at the end of this month. Hinrichs previously served as president of Ford Motor Co.’s global auto business. Hinrichs said…
NEW ORLEANS (AP) — A Louisiana judge has thrown out air quality permits for a Taiwanese company’s planned $9.4 billion plastics complex between New Orleans and Baton Rouge, a rare win for environmentalists in a heavily industrialized stretch of the Mississippi River often referred to as “Cancer Alley.” The Louisiana Department of Environmental Quality brushed…
By Lisa Baertlein LOS ANGELES (Reuters) – U.S. freight railways and unions representing 115,000 workers may have reached a deal to avert a damaging shutdown that could have battered the U.S. economy, but the industry isn’t clear of that danger yet. Leaders of the 12 unions involved in the talks must now sell agreements to…
By Niket Nishant (Reuters) -Shares of Corebridge Financial Inc opened 2% below the IPO price in their New York Stock Exchange debut on Thursday, giving the company a valuation of $13.2 billion, dimming hopes of a revival in U.S. listings as market turmoil dents investor confidence. The lukewarm reception to the biggest U.S. IPO so…
By Medha Singh and Bansari Mayur Kamdar (Reuters) – Shares of Union Pacific Corp and Norfolk Southern rose on Thursday after major U.S. railroads clinched a tentative deal with unions for better pay and working conditions, narrowly averting a rail shutdown. The two sides reached the agreement following 20 hours of intense talks brokered by…
LONDON (AP) — Microsoft’s $69 billion deal to buy video game company Activision Blizzard faces an in-depth antitrust investigation in Britain after the tech company refused to offer proposals to ease competition concerns. Britain’s Competition and Markets Authority said Thursday that it was referring the blockbuster deal for more scrutiny under a so-called phase 2…
(Reuters) – Zoom Video Communications Inc said on Thursday it was “investigating issues” after more than 40,000 users reported problems with the video-conferencing platform, according to outage tracking website Downdetector.com. Downdetector, which tracks outages by collating status reports from several sources including user-submitted errors on its platform showed 40,377 users reporting problems. The actual number…
Outdoor gear company Patagonia says “the earth is now our only shareholder” after transferring the company’s ownership from founder Yvon Chouinard and his family to two nonprofits established to fight climate change. In a letter posted on the 50-year-old company’s website Wednesday night, Chouinard said Patagonia would transfer 100% of its voting stock to the…
NEW YORK (AP) — The largest part of the U.S. economy is holding up against the hottest inflation in four decades and the threat of a potential recession. Hotels, restaurants and other businesses that provide services have managed to keep gaining ground through the summer, according to the latest survey from the Institute for Supply…
Software company Adobe is buying online design company Figma in an approximately $20 billion cash-and-stock deal. Figma, founded in 2012, allows those who design interactive mobile and web applications to collaborate through multi-player workflows, sophisticated design systems and a rich developer ecosystem. The companies said that Figma’s web-based, multi-player capabilities will accelerate the delivery of…
