(Reuters) -A state court in Washington has temporarily blocked Albertsons Companies Inc from paying a $4 billion dividend to shareholders before the grocery chain closes its proposed deal with rival Kroger Co, documents filed said on Thursday. Kroger Co snapped up Albertsons in a $25 billion deal in last month’s mega merger between the No….
Pumpkin spice pumped up Starbucks’ sales in its fiscal fourth quarter, and the company said it’s confident that momentum will carry on into next year. Starbucks’ revenue rose 3% to a record $8.41 billion in the July-September period. The company said Thursday it saw its highest-ever sales week in September when it introduced its fall…
NEW YORK (AP) — General Mills and Audi are the latest big advertisers to pause ads on Twitter as questions swirl about how the social media platform will operate under new owner Elon Musk. Spokesperson Kelsey Roemhildt on Thursday confirmed the move by the Minneapolis-based maker of food brands such as Cheerios and Annie’s macaroni…
DoorDash defied an overall slowdown in U.S. restaurant delivery in the third quarter, saying its orders jumped 27% as it expanded overseas and added new grocery and retail offerings. The San Francisco-based delivery company reported 439 million orders in the July-September period. That was higher than the 433 million Wall Street forecast, according to analysts…
By Jamie Freed SYDNEY (Reuters) – Qantas Airways Ltd’s CEO succession planning is in good shape even though long-serving boss Alan Joyce is expected to stay until at least the end of 2023, the airline’s chairman said on Friday. “The board looks at succession each year at almost every meeting, but specifically twice a year,”…
(Reuters) – Washington’s King County court has granted a nationwide temporary restraining order, blocking grocery chain Albertsons Companies Inc’s $4 billion dividend payment, State Attorney General Bob Ferguson tweeted on Thursday. “We’ll be back in court Nov. 10 seeking an injunction to keep the dividend on hold while our lawsuit continues,” Ferguson said in a…
SYDNEY (Reuters) – Australia’s central bank on Friday downgraded the outlook for economic growth, warning that more rate hikes will be necessary to bring down sky-high inflation even as it strives to avoid an outright recession. In its quarterly Statement on Monetary Policy, the Reserve Bank of Australia (RBA) raised its forecasts for inflation as…
By Sheila Dang, Paresh Dave and Katie Paul (Reuters) -Elon Musk has directed Twitter Inc’s teams to find up to $1 billion in annual infrastructure cost savings, according to two sources familiar with the matter and an internal Slack message reviewed by Reuters, raising concerns that Twitter could go down during high-traffic events like the…
By Hannah Lang (Reuters) -Block Inc posted a rise in third-quarter revenue on Thursday as the growth of Cash App helped make up for stagnant cryptocurrency prices that had dogged the payments platform led by Twitter founder Jack Dorsey in previous quarters. Shares of Block, formerly called Square, rose more than 14% in extended trading…
By Ruhi Soni (Reuters) -Agricultural chemical and seed company Corteva Inc on Thursday posted a smaller-than-expected third-quarter adjusted loss as farmers looked to maximize yields at a time of low global grain supplies. Operating loss was 12 cents per share in the July-September quarter, from 14 cents per share a year earlier. Analysts on average…
