(Reuters) -Amazon.com has slashed the price it will pay for iRobot by about 15% to around $1.42 billion after the maker of Roomba vacuum cleaners incurred fresh debt, the companies said on Tuesday. Under the amended deal, Amazon will pay $51.75 in cash for each share of iRobot, compared with the original price of $61.00….
By Timothy Aeppel (Reuters) – The U.S. economy may ultimately skirt a recession, but it’s felt like one for months at Jon Ferrando’s 103 RV dealerships. Retail sales of recreational vehicles are on track to be the lowest since 2015, said Ferrando, CEO and president of Fort Lauderdale, Florida-based Blue Compass RV, which operates in…
By Gary McWilliams HOUSTON (Reuters) – U.S. oil and gas deals rebounded in the second quarter as private equity firms shed shale portfolio investments and publicly traded oil firms grabbed smaller rivals. U.S. oil exploration and production deals last quarter soared to $24 billion – nearly three times that of the first quarter, energy analytics…
By David Milliken LONDON (Reuters) – The Bank of England forecast on Tuesday that it would make a net loss of just over 150 billion pounds ($193 billion) over the next 10 years as it unwinds its quantitative easing (QE) gilt purchases, up from 100 billion pounds projected in April. That loss will need to…
(Reuters) -Goodyear Tire & Rubber Co said it would add three directors in agreement with Elliott Investment Management, months after the activist investor disclosed a stake and called for changes to strengthen the company’s financial position. Elliott’s investment announced in May made it one of Goodyear’s biggest investors. The firm urged the company to refresh…
LOS ANGELES (Reuters) – United Parcel Service (UPS) and the Teamsters union representing 340,000 employees at the package delivery firm plan to meet on Tuesday in an effort to avert a threatened strike on Aug. 1. The scheduled meeting, which both sides have confirmed, would be the first since UPS labor contract negotiators deadlocked on…
By Paul Lienert and Joseph White (Reuters) – General Motors CEO Mary Barra has staked billions on a broad lineup of electric vehicles such as the Chevrolet Silverado EV designed from the wheels-up to be electric, software-defined vehicles that can match or beat any Tesla. On Tuesday, Barra made a significant exception, reversing a decision…
DUBAI (Reuters) -The International Monetary Fund cut its 2023 GDP growth projection for Saudi Arabia to 1.9% in its latest World Economic Outlook update released on Tuesday, to reflect the impact of prolonged oil production cuts. The IMF revised its growth forecast for the world’s top oil exporter from 3.1% projected in its May regional…
(Reuters) – Jaylen Brown has agreed to a five-year $304 million supermax contract extension with the Boston Celtics that will make the forward the highest paid player in the NBA, according to multiple media reports on Tuesday. The third overall pick in the 2016 draft Brown averaged a career-high 26.6 points, 6.9 rebounds and 3.5…
By Sourasis Bose (Reuters) – Chemicals maker Dow on Tuesday beat profit and sales estimates for the second quarter as it kept a tight lid on costs amid worries of a global economic slowdown. The Midland, Michigan-based company reported an operating income of 75 cents per share, compared with analysts’ estimates of 70 cents, according…
