By Dawn Chmielewski and Danielle Broadway LOS ANGELES (Reuters) -The Hollywood writers’ strike marked 100 days on Wednesday with contract talks stalled and people on the picket lines protesting what they describe as a disregard for their demands. The strike began on May 2 after negotiations between the Writers Guild of America (WGA) and the…
By Milana Vinn (Reuters) – The private equity owner of Intermedia Cloud Communications is exploring options including a sale that could value the communications services provider at more than $1 billion, including debt, according to people familiar with the matter. Buyout firm Madison Dearborn Partners is working with investment bank Evercore on a sale process…
By Deborah Mary Sophia (Reuters) -Ralph Lauren on Thursday forecast current-quarter sales largely below Wall Street expectations, as demand for its pricey sweaters, shirts and outdoor wear tapers amid a broad slowdown in U.S. luxury spending. After a robust spending spree last year, affluent shoppers in the U.S. have now cut back on luxury goods…
ATHENS (Reuters) -On Greece’s popular island of Paros, a protest by residents demanding space and free access to its sandy beaches has led to a growing nationwide movement against the expansion of pricey sunbeds rented out by private companies. The protests, dubbed by media the ‘Towel Movement’, have quickly spread from Paros to the nearby…
By Diane Bartz WASHINGTON (Reuters) – U.S. antitrust enforcers reviewing Kroger’s plan to buy rival grocery giant Albertsons are probing whether suppliers will be squeezed in a way that hurts small grocery chains, according to people who spoke to federal and state regulators. Staffers for the Federal Trade Commission (FTC), which leads the probe into…
CAIRO (Reuters) -Egypt’s annual headline inflation rose to a new all-time high of 36.5% in July, in line with analysts’ expectations, as food prices soared, data from the country’s statistics agency CAPMAS showed on Thursday. Month-on-month, prices rose 1.9% in July, down from 2.08% in June. Core inflation, which strips out volatile items like food…
(Reuters) – Digital World Acquisition and former U.S. President Donald Trump’s media company on Wednesday extended the deadline for their merger by over three months to Dec. 31, as they work to close the deal that has been delayed by regulatory scrutiny. The move comes weeks after blank-check firm DWAC settled fraud charges with the…
By Olivier Sorgho (Reuters) – Zurich Insurance on Thursday reported a better-than-expected half-year operating profit, helped by its Life business and price hikes aimed at mitigating higher insurance claims from unpredictable weather. Europe’s fifth-largest insurer posted a business operating profit (BOP) of $3.72 billion, little changed versus a year earlier, while analysts in a company-provided…
By Patrick Wingrove (Reuters) -New data on the heart benefit of an obesity drug from Novo Nordisk increases the chances of a pay-off for it and Eli Lilly, which have spent a record amount on U.S. lobbying to win government backing for the drugs, analysts and experts said. U.S. law classifies weight-loss treatments as lifestyle…
By Jorgelina do Rosario LONDON (Reuters) – Foreign investors funneled over $3 billion into Chinese debt in July in the first net monthly inflows this year for the world’s second-largest economy, data from the Institute of International Finance (IIF) showed on Thursday. Inflows were less than a third of the $10.6 billion poured into Chinese…
