By Mathieu Rosemain PARIS (Reuters) -Casino’s board approved moving forward with talks on Monday with Czech billionaire Daniel Kretinsky over a plan to inject 1.2 billion euros ($1.35 billion) of new money in the distressed French retailer, the group said. Kretinsky’s attempt to gain control of Casino, France’s sixth-largest retailer, appears to be getting closer…
By Mike Scarcella (Reuters) – Chinese e-retailer Temu has filed a new lawsuit accusing rival Shein of violating U.S. antitrust law in its dealings with clothing manufacturers, escalating a legal clash for dominance in the fast-fashion market. Temu, represented by prominent U.S. law firm Boies Schiller Flexner, filed the new case on Friday in Boston…
By Jonathan Stempel (Reuters) – The U.S. government on Monday sued a New York-based company for allegedly operating a so-called “massive ‘consent farm’ enterprise” to trick nearly 1 million people a day into providing personal information and consent to receive telemarketing calls. Fluent LLC was accused of having since 2011 used deceptive ads and websites…
(Reuters) – Salesforce appointed Wachtell, Lipton’s Sabastian Niles as its chief legal officer on Monday, months after the leading activist lawyer helped defend the business software provider against several hedge funds that had called for changes at the company. “I’m thrilled to welcome Sabastian to Salesforce as part of our world-class management team,” CEO Marc…
By Paritosh Bansal (Reuters) -At $25 trillion, the U.S. Treasury market is massive. And yet, small independent broker-dealers say they are running out of room to operate there. Over the past decade, at least eight independent broker-dealers have been either bought by bigger firms or closed shop, a Reuters tally shows, taking out intermediation capacity…
By John Kruzel WASHINGTON (Reuters) – A group of individual plaintiffs on Monday asked the U.S. Supreme Court to temporarily halt Microsoft’s $69 billion acquisition of Activision Blizzard, the largest in the history of the videogame industry. The bid by the plaintiffs was separate from a request by the U.S. Federal Trade Commission to pause…
GANDHINAGAR, India (Reuters) – The world economy is in a difficult place but it is not destined to stay there, World Bank President Ajay Banga said on Monday. The World Bank last month cut its 2024 forecast for global economic growth to 2.4% from 2.7% earlier, citing global monetary tightening. “The fact is that the…
By Nathan Gomes (Reuters) -Ford deepened a price war in the electric-vehicle industry on Monday by slashing the prices of its F-150 Lightning trucks, including a 17% cut for the base model, as it aims to boost its share of an EV market dominated by Tesla. Ford’s shares closed down 6% at $14.09. The Detroit-based…
LONDON (Reuters) – The United Nations Security Council will hold its first formal discussion on artificial intelligence (AI) this week in New York, with Britain to call for an international dialogue about its impact on global peace and security. Governments around the world are considering how to mitigate the dangers of emerging AI technology, which…
By Patricia Zengerle and Simon Lewis WASHINGTON (Reuters) – U.S. Secretary of State Antony Blinken said on Monday that a Senate delay in confirming President Joe Biden’s nominees for diplomatic positions was undermining national security, echoing similar concerns from defense officials on delays to military promotions. Blinken told reporters that he had sent a letter…
