(Reuters) -U.S. homebuilding fell more than expected in September and the number of new groundbreakings for single-family homes tumbled to the lowest level in more than two years, according to Census Bureau data out Wednesday that showed the ongoing impact of the Federal Reserve’s interest rate hikes on the housing market. Housing starts dropped 8.1%…
GREER, S.C. (AP) — BMW will invest $1 billion in its sprawling factory near Spartanburg, South Carolina, to start producing electric vehicles and an additional $700 million to build a electric-battery plant nearby. The German automaker’s announcement Wednesday reflects its commitment to transitioning to electric-vehicle production in North America, in line with similarly ambitious plans…
(Reuters) – Shareholders of U.S. carrier Spirit Airlines Inc voted in favor of JetBlue Airways Corp’s $3.8 billion takeover offer, but face an uphill struggle getting regulators to approve their combination. Below are the key events of the takeover saga: Date Development Feb. 7 Frontier makes a cash-and-stock offer of $25.83/share for Spirit Airlines Feb….
The Bill & Melinda Gates Foundation announced Wednesday that it is making grants of more than a $1 billion as part of a sweeping national plan to improve math education over the next four years. Its goal: to help students succeed in school and land well-paying jobs when they graduate, given research that shows the…
Spirit Airlines shareholders voted Wednesday to accept a $3.8 billion buyout from JetBlue Airways, but the deal could still face a challenge from federal antitrust regulators. JetBlue emerged as the winner in a bidding war with Frontier to acquire Spirit, the nation’s biggest budget airline. Spirit announced the outcome after a brief meeting, which was…
By Jarrett Renshaw and Steve Holland WASHINGTON (Reuters) -U.S. President Joe Biden will announce a plan on Wednesday to sell off the last portion of his release from the nation’s emergency oil reserve by year’s end and detail a strategy to refill the stockpile when prices drop, administration officials said. The plan is intended to…
Procter & Gamble exceeded $20 billion in sales during the fiscal first quarter but citing the strong dollar, it said Wednesday that it expects to post its first annual sales decline since 2017. U.S companies that do a lot of business overseas are getting hammered by a surge in the value of the dollar because…
(Reuters) – U.S. homebuilding fell more than expected in September, led by a 13.1% decline in multi-unit projects, according to Census Bureau data released on Wednesday. Housing starts dropped 8.1% to a seasonally adjusted annual rate of 1.439 million units last month. Data for August was revised down to a rate of 1.566 million units…
By John Revill and Richa Naidu ZURICH/LONDON (Reuters) -Nestle posted its strongest nine-month sales growth in 14 years on Wednesday and raised its full-year guidance as the world’s largest packaged food company lifted prices without losing many customers. The maker of KitKat chocolate bars and Nescafe reported organic sales, which cut out the impact of…
COPENHAGEN, Denmark (AP) — Norway’s domestic security agency on Wednesday took over investigations of drone sightings near key infrastructure sites hours after the airport in the country’s second-largest city briefly closed due to area residents spotting at least one drone nearby. Bergen Airport, which is near Norway’s main naval base, shut down at around 6:30…
