(Reuters) -Shake Shack Inc on Tuesday added an independent director in agreement with Engaged Capital LLC, avoiding a potential proxy battle between the activist investor and the restaurant chain. This follows a Wall Street Journal report that said Engaged Capital, which according to Refinitiv data has a 4.36% stake, was planning to launch a proxy…
By Nick Carey LONDON (Reuters) – Mercedes-Benz’s van unit said on Tuesday that it plans a new, scalable platform for its electric vans that will reduce fixed costs by 20% by the middle of the decade and that electric models should make up 50% of its van sales by 2030. Electric vans should make up…
OTTAWA (Reuters) -Canada’s industry minister is optimistic about reaching a deal with carmaker Stellantis over subsidies to build a battery plant in Windsor, Ontario, provided that the provincial government also offers some support, he said on Tuesday. Stellantis stopped construction at a C$5 billion ($3.7 billion) electric-vehicle battery plant in Canada, which is being built…
LONDON (Reuters) -Britain’s departure from the European Union has not been a failure, Prime Minister Rishi Sunak’s spokesperson said on Tuesday, rebuffing criticism from prominent eurosceptic politicians about how Brexit had been implemented. Nigel Farage, the British politician who helped force a Brexit referendum in 2016 and successfully campaigned to leave the European Union, said…
By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) – Senior Tesla Inc executives will meet Indian government officials on Wednesday and Thursday to discuss local procurement of parts and other issues, a source with direct knowledge of the matter told Reuters. The electric carmaker’s renewed interest in India comes nearly a year after it…
SYDNEY (Reuters) – Chinese wine sales will not return to the same level for Australia’s Treasury Wine Estate even if high tariffs imposed during a political dispute with Canberra are dropped, its chief executive said. The world’s biggest standalone winemaker drew a third of its profits from China before anti-dumping and subsidy tariffs of up…
By Elida Moreno PANAMA CITY (Reuters) -The number of U.S.-bound migrants who cross the dangerous jungle separating Panama and Colombia could rise to a record this year, according to a senior U.N. refugee official. The forecast for migrants crossing the Darien Gap on their way north comes as U.S. authorities have observed a recent drop…
By Aditya Kalra and Arpan Chaturvedi NEW DELHI (Reuters) -Pilots at India’s Go First face delays getting paid due to the airline’s bankruptcy process and want the government to allow them to take up new jobs without serving long notice periods, a group representing the pilots said in a letter seen by Reuters. In the…
By David Morgan and Jarrett Renshaw WASHINGTON (Reuters) -Democratic President Joe Biden and top congressional Republican Kevin McCarthy will sit down on Tuesday to try to make progress on a deal to raise the U.S. government’s $31.4 trillion debt ceiling and avert an economically catastrophic default. They have little time to reach a deal. The…
By Maggie Fick LONDON (Reuters) – AstraZeneca has decided to leave the main U.S. drug lobby group, the Pharmaceutical Research and Manufacturers of America (PhRMA), and pursue other ways of engaging in advocacy at the state and federal level, the company said. AstraZeneca decided not to continue its membership after a recent assessment of whether…
