WASHINGTON (Reuters) – The U.S. Department of Transportation (DOT) on Wednesday said a Republican budget cut proposal would shut down 375 federally-staffed and contract-run air traffic control towers around the country and result in 7,500 fewer rail safety inspection days. Overall, it said the Republican plan, which would sharply reduce budget spending in exchange for…
By Chibuike Oguh NEW YORK (Reuters) – Shares of Chipotle Mexican Grill Inc soared to a record high on Wednesday after the burrito chain beat analysts’ estimates for first-quarter profit and sales. Chipotle said its revenue rose 17% year-on-year to $2.4 billion, driven by higher restaurant sales, 41 new store openings, and increased demand from…
(Reuters) – Media company Fox Corp on Wednesday said it would house its standalone digital businesses under a new unit, Tubi Media Group, along with its news, sports and entertainment digital platforms. Fox’s standalone digital businesses include free, ad-supported streaming platform Tubi, which Fox acquired in 2020; Tubi founder Farhad Massoudi will now step down as…
By Tom Sims FRANKFURT (Reuters) – Deutsche Bank is undertaking its biggest management shake-up since 2019, the German bank said on Wednesday as it announced the departure of Christiana Riley, who oversaw its U.S. operations. Riley’s exit to join Santander follows news last week that Deutsche’s co-deputy chief executive Karl von Rohr was also leaving,…
(Reuters) -Chinese police have visited U.S. management consultancy Bain & Company’s office in Shanghai and questioned staff there, a company spokesperson said on Wednesday without elaborating. “We are cooperating as appropriate with the Chinese authorities,” the spokesperson told Reuters by email. “At this time, we have no further comment.” The U.S. embassy in China and…
By Jeff Mason, Trevor Hunnicutt and Andrea Shalal WASHINGTON (Reuters) – Incumbent President Joe Biden entered the 2024 election race on Tuesday with something he didn’t have two-and-a-half years ago: a record in the White House. He plans to run on it, highlighting his successes as an argument for another term, while opposition Republicans likely…
By Andrew Chung and John Kruzel WASHINGTON (Reuters) -U.S. Supreme Court justices on Wednesday appeared sympathetic toward a 94-year-old woman in her battle with a Minnesota county government that sold her condominium to cover her unpaid taxes and kept the proceeds beyond the sum she owed in a case testing constitutional checks on excessive fines…
By Chen Lin SINGAPORE (Reuters) -Singapore raised taxes on private property purchases in a surprise move late on Wednesday night that includes a doubling of stamp duties for foreigners to an eye-watering 60%. Authorities in Singapore, where real estate is a safe haven investment for wealthy foreigners, keep close tabs on property prices to ensure…
By Steve Scherer and Ismail Shakil OTTAWA (Reuters) -The Bank of Canada (BoC) did not hike interest rates earlier this month because it wanted to see more evidence of the effects of previous monetary tightening on growth and inflation, according to minutes from the policy-setting meeting released on Wednesday. On April 12, the central bank…
By Tatiana Bautzer DALLAS (Reuters) -A Goldman Sachs Group Inc shareholder criticized its Chairman and CEO David Solomon on Wednesday at the bank’s annual meeting and proposed its board appoint an independent chairman. The proposal, along with eight others put forward by shareholders, failed after receiving the support of 16% of stock holders who voted….
