OMAHA, Neb. (AP) — Consumers could see higher gas prices and shortages of some of their favorite groceries during the winter holiday season if railroads and all of their unions can’t agree on new contracts by an early-December deadline that had already been pushed back. The likelihood of a strike that would paralyze the nation’s…
(Reuters) – Bob Iger is returning as Walt Disney Co’s chief executive officer in a bid to restore confidence in the entertainment giant and chart a faster path to profitability for its streaming business. He replaces Bob Chapek, who took charge in February 2020 just before the COVID-19 crisis hit and under whose reign the…
ZURICH (Reuters) – Nestle’s Nespresso coffee business is launching paper-based compostable capsules to attract customers put off by the Swiss packaged food giant’s metal ones, which despite being recyclable often end up in landfill. Nespresso CEO Guillaume Le Cunff told Reuters that not all customers were aware that its aluminium capsules are recyclable, and may…
By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) – Bob Iger is returning to Walt Disney Co as chief executive less than a year after he retired, a surprise comeback that coincides with the entertainment company’s attempt to boost investor confidence and profits at its streaming media unit. Iger, 71, who was chief executive…
(Reuters) -Britain’s competition regulator said on Monday it was looking into whether U.S. chipmaker Broadcom Inc’s $61 billion acquisition of cloud computing company VMware Inc may substantially lessen competition. The Broadcom-VMware deal, announced in May, is the second biggest globally so far this year and marks Broadcom’s attempt to diversify its business into enterprise software….
LONDON (Reuters) – The implosion of cryptocurrency exchange FTX shows the need to bring the crypto world within the regulatory framework, Bank of England Deputy Governor Jon Cunliffe said on Monday. FTX, which has filed for U.S. bankruptcy court protection, has said it owes its 50 biggest creditors nearly $3.1 billion. “While the crypto world,…
(Reuters) – Goldman Sachs on Monday warned that the global equity bear market is not over as the markets are yet to see a trough in the momentum of global growth deterioration, a peak in interest rates and valuations lowered to reflect a likely recession. The Wall Street investment bank expects returns to be a…
By Emily Chow SINGAPORE (Reuters) -Oil prices dropped to trade near two-month lows on Monday, having earlier slid by around $1 a barrel, as supply fears receded while concerns over fuel demand from China and U.S. dollar strength weighed on prices. Brent crude futures for January had slipped 74 cents, or 0.8%, to $86.88 a…
(Reuters) -The most important day for U.S. retailers is here and questions are rife on whether king dollar is set to lose its crown. Global purchasing managers data will shine a light on the health of the world economy, while markets want to see whether Beijing could step up some of its promised support. And…
BEIJING (AP) — Asian stock markets were mixed Tuesday after Wall Street sank and Chinese anti-virus controls fueled concern about an economic slowdown. Shanghai and Hong Kong declined while Tokyo advanced. Oil prices gained. Wall Street’s benchmark S&P 500 index declined for another day after a Federal Reserve official rattled investors last week by saying…
