By Victoria Waldersee and Jan Schwartz BERLIN (Reuters) -Volkswagen defended its record in China and its decision to jointly own a plant in the Xinjiang region after activists and investors lashed out at the carmaker at a volatile annual general shareholder meeting on Wednesday. About ten activists, including one topless woman with ‘Dirty Money’ painted…
By Ankit Kumar and Mrinalika Roy (Reuters) -Trulieve Cannabis Corp posted a bigger-than-expected fall in first-quarter revenue on Wednesday, as demand for pot and related products weakened amid rising recession fears and increased competition. Shares of Trulieve fell nearly 4% to C$6.88 in morning trade, having fallen almost 33% so far this year. Recent banking…
By Orhan Coskun ANKARA (Reuters) – Turkey’s economy is bracing for a “lost year” no matter who wins landmark elections on Sunday, political insiders say, even if the opposition pledges to tear down President Tayyip Erdogan’s unorthodox policies. The main opposition alliance, which is leading in some opinion polls, promises to free up the economy…
DUBLIN (Reuters) – Ireland could amass a 142 billion euro ($156 billion) sovereign wealth fund by 2035 and cover much of its future age-related costs if it invests all its forecast windfall corporation tax receipts, the finance ministry estimated on Wednesday. Ireland was one of the few euro zone countries to record a budget surplus…
(Reuters) -Airbnb’s shares slid 12% on Wednesday after the top vacation rental firm issued a gloomy second-quarter forecast and signaled that the high cost of travel may be finally catching up to budget-conscious U.S. consumers. Household savings and pent-up demand have largely insulated the U.S. travel industry from inflationary pressures that have roiled other sectors….
(Reuters) – California has agreed to pay $24 million to the family of a man who lost consciousness and died after highway patrol officers pinned him to the ground while he screamed, “I can’t breathe,” a lawyer for the family said. The settlement comes six weeks after seven California Highway Patrol Officers and a registered…
(Reuters) -An April inflation reading on Wednesday that was more benign than expected disrupted the modest momentum that had been building for an 11th straight U.S. interest rate hike in June. Futures tied to the Federal Reserve’s policy rate rose after the Labor Department report, and now reflect less than a 10% chance that the…
By Lisa Pauline Mattackal (Reuters) – Private-credit firms are eyeing fresh opportunities from a potential borrowing squeeze in the United States as battered regional banks tighten lending after the turmoil in the sector, according to fund managers and investment strategists. About 46% of the banks surveyed by the Federal Reserve reported tightening lending standards during…
By Daniel Leussink TOKYO (Reuters) -Toyota Motor Corp on Wednesday said it expects operating profit to climb 10% this business year, with a five-fold jump in pure electric vehicle (EV) sales amid an easing in global supply chain disruption from a shortage of chips. The growth plan was unveiled by new CEO Koji Sato, installed…
(Reuters) -Vitamin Shoppe owner Franchise Group Inc would be taken private by a group led by CEO Brian Kahn in a deal valued at about $2.6 billion, the company said on Wednesday. Shares of Franchise, which also owns retailer Buddy’s Home Furnishings and discount furniture store American Freight, climbed about 3% premarket. The consortium, which…
