(Reuters) – S&P Global Ratings cut Sri Lanka’s rating as an issuer of foreign currency debt to ‘selective default’ after the South Asian country missed sovereign bond interest payments, S&P said on Monday. The bonds which had missed payments, maturing in 2023 and 2028, were cut to ‘default’ and the overall rating could be further…
By Bansari Mayur Kamdar and Devik Jain (Reuters) -U.S. stock indexes fell on Monday, extending a sharp selloff from last week as fears over China’s COVID-19 outbreaks spooked investors already worried about faster U.S. interest rate hikes denting economic growth. The worries reverberated across world markets, with Chinese shares marking their biggest slump since a…
FRANKFURT (Reuters) – German diversified group Bayer has seen a “very successful start to the year”, driven by a favourable environment in agricultural markets, it said on Monday. “In the agriculture business, in particular, we see a much more positive market environment than in previous years,” Chief Executive Werner Baumann said in a written speech…
(Reuters) -UnitedHealth Group has agreed to sell Change Healthcare’s claims editing business for $2.2 billion in a move some analysts say could ease regulatory hurdles in the way of an $8 billion merger between the healthcare companies. Earlier this year, the U.S. Department of Justice (DoJ) sued to stop the acquisition for giving UnitedHealth access…
BERLIN (AP) — The co-leader of German Chancellor Olaf Scholz’s party said Monday that former Chancellor Gerhard Schroeder, whose ties to the Russian energy industry have left him increasingly isolated at home, should leave the party. Saskia Esken, one of two co-leaders of Scholz’s center-left Social Democrats, said in an interview with Deutschlandfunk radio that…
By Uday Sampath Kumar and Praveen Paramasivam (Reuters) -Coca-Cola Co warned on Monday consumer demand could slow as rampant inflation shows no sign of cooling and said it was focusing on more affordable and refillable glass bottles in markets facing the biggest pinch from price increases. Demand for sodas and other packaged foods has so…
By Howard Schneider (Reuters) – Worker demands for more flexibility and security, bolstered by the pandemic and a tight labor market, are only growing more intense as the world economy reopens and some firms begin trying to pull employees back to offices, payroll provider ADP reported in a survey of nearly 33,000 people worldwide. The…
General Motors says it will offer an electrified Chevrolet Corvette as early as next year. President Mark Reuss said in a statement on LinkedIn Monday that the automaker will also sell a fully electric Corvette sometime in the future. An electrified vehicle generally means a gas-electric hybrid or a plug-in rechargeable hybrid, but more details…
(Reuters) – Twitter Inc is set to agree to Elon Musk’s $43 billion takeover bid, his “best and final” offer for the social media company, people familiar with the matter said. Earlier in April, the social media company had adopted a “poison pill” to protect itself from Musk’s $54.20 per share offer, which followed days…
By Simon Jessop and Brenna Hughes Neghaiwi ZURICH (Reuters) – A group of Credit Suisse investors pushing for faster climate action at the Swiss bank has more than doubled in size, raising pressure on its board ahead of its annual shareholder meeting on Friday. Credit Suisse, along with other major banks, is under pressure from…
