MILAN (Reuters) – The Benetton family and U.S. investment fund Blackstone have secured Atlantia shares accounting for 62.2% of its capital as of Thursday, a day before the deadline for their takeover bid, Reuters calculations based on bourse data showed. Borsa Italiana said the take-up in the buyout offer for the Italian infrastructure group, which…
Biogen has picked former Sanofi CEO Christopher Viehbacher to become its next leader, as the drug developer continues to recover from its failed launch of the Alzheimer’s treatment Aduhelm. The company said Thursday that the 62-year-old Viehbacher will become president and CEO on Monday, replacing Michel Vounatsos. Biogen said in May that Vounatsos would leave…
Elon Musk warned Twitter employees Thursday to brace for “difficult times ahead” that might end with the collapse of the social media platform if they can’t find new ways of making money. Workers who survived last week’s mass layoffs are facing harsher work conditions and growing uncertainty about their ability to keep Twitter running safely…
(Reuters) – Juul Labs Inc has told employees on Thursday that it has stopped its bankruptcy preparations and is working on a cost-cutting program, the Wall Street Journal reported, citing company officials. The company also plans to lay off about 400 people and reduce its operating budget by 30% to 40%, the report added. Juul…
(Reuters) – FTX has approached Kraken as potential rescue partner, Axios reported on Thursday, citing two people familiar with the matter, just hours after Chief Executive Sam Bankman-Fried said he had launched an urgent push to raise funds. Bankman-Fried had earlier in the day said he was in talks with “a number of players” in…
By Michael S. Derby (Reuters) – Federal Reserve Bank of Philadelphia President Patrick Harker said Thursday the point where the central bank might pause on rate rises could be getting closer. “I am in the camp of wanting to get to what would clearly be a restrictive stance, somewhere north of four-ish, you know, four…
(Reuters) – Traders on Thursday trimmed bets on interest-rate hikes by the Federal Reserve as a government report showed inflation rose less than expected last month. Futures contracts that settle to the Fed’s policy rate surged immediately after the report, as traders moved to price in a bigger chance that the Fed will slow the…
LONDON (AP) — Prime Minister Rishi Sunak is aiming to repair frayed relations with Britain’s European Union neighbors — and with highly skeptical leaders in Scotland and Wales — when he attends a summit of leaders from across the U.K. and Ireland on Thursday. It’s the first time since 2007 that a U.K. leader has…
BRUSSELS (AP) — The European Union’s executive arm proposed pollution standards Thursday for new combustion engine vehicles that are expected to remain on European roads well after the 27-nation bloc bans their sale in 2035. The so-called Euro 7 standards presented by the European Commission would apply to all cars, vans, trucks and buses sold…
WASHINGTON (AP) — The number of Americans applying for jobless benefits rose slightly last week, but the labor market remains healthy despite job cuts that have begun to spread across industries most affected by soaring interest rates, such as housing and technology. Unemployment claims for the week ending Nov. 5 rose by 7,000 to 225,000…
