By Svea Herbst-Bayliss BOSTON (Reuters) -Shareholder advisory firm Glass Lewis on Friday recommended Spirit Airlines investors approve Frontier Group Holdings Inc’s $2.9 billion takeover bid, saying it was the “best available” at this time. The report, which helps guide investors on how to vote on the proposed merger, comes only hours after Frontier said it…
(Reuters) – U.S. bond funds attracted net inflows in the week to June 1, after five months of outflows, as fears eased over the Federal Reserve’s aggressive monetary tightening measures and signs emerged that inflation may have peaked. According to Refinitiv Lipper data, investors purchased U.S. bond funds worth a net $7.09 billion in their…
ANKARA, Turkey (AP) — Annual inflation in Turkey hit 73.5% in May, the highest rate since 1998, according to official data released Friday as a cost-of-living crisis in the country deepens. The Turkish Statistical Institute said the rate represented an increase of almost 70% from the month before. Consumer prices were up nearly 3% from…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Tesla CEO Elon Musk has a “super bad feeling” about the economy and needs to cut about 10% of jobs at the electric carmaker, he said in an email to executives seen by Reuters. The message, sent on Thursday and titled “pause all hiring worldwide”, came two days…
By Hilary Russ NEW YORK (Reuters) -For at least a decade, Burger King’s formula for European expansion has relied on a joint venture partnership, including a master franchisee, to open and operate new locations. But now the fast-food chain has a whopper of a problem in Russia. It hasn’t been able to exit its partnership…
FRANKFURT (Reuters) – Tesla Chief Executive Elon Musk told top managers he had a “super bad feeling” about the economy and that the electric carmaker needed to cut staff by about 10%, according to an internal email seen by Reuters. The email, titled “pause all hiring worldwide”, was sent to Tesla executives on Thursday, and…
Investors will be crossing their fingers for a calmer inflation print from the United States, possibly allowing the Federal Reserve to go slower with its interest rate rises. They are less concerned about Chinese inflation, focusing instead on what upcoming trade figures say about the economy. But high oil prices, spurred by supply squeezes, will…
TOKYO (AP) — Toshiba executives said Friday that privatization remains an option for the Japanese technology company, as they defended their efforts to choose the right bidder to restore what they called “a strong Toshiba.” Tokyo-based Toshiba has been trying to win over shareholders to a restructuring plan. The company has not given the nationalities…
By Samuel Indyk LONDON (Reuters) – European shares were mostly higher on Friday as investors await a key jobs report that will help gauge the strength of the U.S. economy and provide hints on the pace of the Federal Reserve’s policy tightening in the second half of the year. The pan-European STOXX 600 was up…
(Refiles to remove duplicated paragraph) TOKYO (Reuters) -Japan’s Panasonic Holdings Corp, which makes batteries for electric car maker Tesla, is finalising a decision on which U.S. state it will choose as the site for a new battery plant, a top executive said on Friday. “We’ve been making various considerations, but we are starting to finalise,”…
