NAIROBI, Kenya (AP) — Pilots working for Kenya’s national airline have been on strike for three days over a demand to honor a retirement savings plan, and it is estimated to be costing millions of dollars in losses daily. Kenya Airways said it canceled 56 flights over the weekend, affecting 12,000 passengers. The airline puts…
By Divya Rajagopal TORONTO (Reuters) -Canada’s competition tribunal chief on Monday said it would be difficult for the tribunal to reach a decision on Rogers Communications’ C$20 billion ($14.8 billion) acquisition of Shaw Communications within the December timeframe the companies requested. Rogers’ proposed deal has been blocked by Canada’s antitrust bureau on grounds that it…
By Fergal Smith TORONTO (Reuters) – As the Bank of Canada considers raising interest rates at a slower pace, it is focusing on inflation measures that are more timely than typically observed, which could help it avoid tightening beyond the level needed to subdue price pressures. Inflation tends to be reported on a year-over-year basis…
Walgreens extended its push into more comprehensive health care with its VillageMD unit acquiring another urgent and primary care chain, Summit Health-CityMD, in a deal worth close to $9 billion. Walgreens and rival CVS, two retail chains with thousands of locations, have evolved in recent years with a greater focus on overall care for customers,…
By Chavi Mehta (Reuters) -Palantir Technologies Inc posted its slowest quarterly growth in revenue since going public in 2020 due to weak demand for its data analytics software in Europe, while a strong dollar weighed on its profit, sending its share down 8.5% on Monday. The company, known for its work with the U.S. Central…
By Blake Brittain WASHINGTON (Reuters) -The U.S. Supreme Court on Monday rebuffed a bid by Bristol Myers Squibb Co’s Juno Therapeutics Inc to reinstate a $1.2 billion award it won in its patent fight with Gilead Sciences Inc subsidiary Kite Pharma Inc over a lymphoma drug. The justices turned away Juno’s appeal of a lower…
NEW YORK (AP) — Clara Wu Tsai, co-owner of the Brooklyn Nets, launched the largest business accelerator for minority founders of early-stage startups on Monday. Named BK-XL, the accelerator will invest up to $500,000 each in 12 startups led by Black, Indigenous and other minority founders in 2023. “Capital is one of the biggest impediments…
To entrepreneur Daniel Lubetzky, the founder of Kind snacks, kindness means more than just being nice. “If somebody is nice, they’re not going to bully. But if they’re kind, they’re going to stand up to the bully,” he said. “Kindness requires the strength of action.” It’s a lesson Lubetzky learned from his father, a Latvian…
DUBLIN (Reuters) – Ryanair on Monday predicted it would eventually become Europe’s only major low-cost carrier, with Chief Executive Michael O’Leary claiming a widening gap on costs would make rivals easyJet and Wizz takeover targets. “Europe is inexorably moving towards a similar out-turn as North America where you will have three very large, somewhat higher…
By Foo Yun Chee BRUSSELS (Reuters) -Airbnb and other short-term home rental companies will have to share data on the number of people using their platforms under proposed EU rules, the European Commission said on Monday, in a light-touch approach to regulating this sector. The EU executive’s proposal comes as popular tourist destinations such as…
