By Aditya Soni (Reuters) -Lyft Inc’s shares were down 3% in mid-day trading on Tuesday after incoming Chief Executive Officer David Risher said the ride-hailing firm was not for sale. The appointment of the new chief executive, who has run a non-profit for more than a decade, sparked some speculation that Lyft was preparing itself…
By Josh Horwitz SHANGHAI (Reuters) – Alibaba Group is planning to split into six units and explore fundraisings or listings for most of them, it said on Tuesday, in a major revamp as China vows to ease a sweeping regulatory crackdown and support its private enterprises. The U.S.-listed shares of the Chinese e-commerce conglomerate, which…
By Steve Scherer OTTAWA (Reuters) -Canadian Finance Minister Chrystia Freeland on Tuesday will present this year’s budget, which will have a major focus on scaling up investment in clean technology and will include investments in healthcare and help for low-income households. Countries across the globe are vying for a portion of the low-carbon economy of…
WASHINGTON (Reuters) – U.S. consumer confidence unexpectedly increased in March, but Americans are becoming a bit anxious about the labor market, a survey showed on Tuesday. The Conference Board said its consumer confidence index rose to 104.2 this month from a reading of 103.4 in February. The cutoff date for the survey was March 20,…
(Reuters) – Former Starbucks Chief Executive Howard Schultz will defend the company’s labor talks before a U.S Senate Committee on Wednesday, according to written testimony seen by Reuters. “Starbucks has engaged in good faith bargaining,” Schultz’s testimony says arguing “union representatives have improperly demanded multi-store negotiations, delayed or refused to attend meetings, and insisted on…
By Marc Jones LONDON (Reuters) – Europe’s banks face less threat from some of the problems now showing in the commercial real estate markets than their U.S. counterparts, analysts at JPMorgan have said. Economists are worried commercial property could be the next shoe to drop if problems in global banking markets trigger a broader credit…
By Josh Horwitz (Reuters) – Alibaba Group plans to split its business into six main units covering e-commerce to cloud in the biggest restructuring of its 24 year history, five of which it said will explore fundraising or initial public offerings. The six units are Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group,…
By Sruthi Shankar and Francesco Canepa (Reuters) – Immediate investor concerns over the banking sector eased on Tuesday, lifting stock prices, with the European Central Bank’s supervisory chief saying recent sector volatility underscored the need to step up regulatory scrutiny. European banks were up 1.2%, adding to Monday’s 1.4% gain, with UBS 1.6% higher after…
(Reuters) -Starbucks Corp, which has faced criticism over its opposition to union organizing, said the labor union representing some of its stores has rejected in-person bargaining sessions and is insisting on hybrid negotiations. Starbucks Workers United, which represents thousands of U.S. baristas at about 200 cafes, conducted unauthorized virtual broadcasts of bargaining sessions without prior…
(Reuters) – A.G. Barr on Tuesday warned of a hit to its operating margins in the short term due to inflationary pressures and acquisitions, even as the Irn-Bru maker forecast annual profit growth in line with its expectations. The warnings comes after the beverage maker reported a 13.3% rise in adjusted profit before tax for…
