By Allison Lampert and Shivansh Tiwary (Reuters) -Wheels Up Experience said on Wednesday there was “substantial doubt” about its ability to continue operations, even as it disclosed short-term funding from Delta Air Lines, sending its shares plunging 42%. The company, which charters planes by the hour, has taken a slew of restructuring measures this year…
By Riham Alkousaa BERLIN (Reuters) – Germany’s highest inflation in decades has fuelled a rising sense of inequality and left a majority of Germans feeling abandoned by the government, leading to gains for the far-right AfD party, a survey showed on Wednesday. Some 80% said they considered the economic situation in Germany as unjust, up…
By Abigail Summerville NEW YORK (Reuters) – Body Art Alliance is exploring options including a sale that could value the supplier of tattoo and body art products at nearly $1 billion, including debt, according to people familiar with the matter. The Hanover, Maryland-based company is working with investment bank Jefferies Financial Group Inc on the…
(Reuters) – China Renaissance Holdings said on Wednesday that investigations against its chairman Bao Fan by certain authorities were being carried out with his cooperation. His detention was extended for three months from May 7 after Bao was taken away by disciplinary officials on Feb. 7, according to a source-based report by Economic Observer, a…
By Simon Jessop, Alessandro Parodi and Laura Lenkiewicz LONDON (Reuters) -Insured losses stemming from natural catastrophes rose to $50 billion in the first half of 2023, the second highest reading since 2011, reinsurer Swiss Re said on Wednesday. Severe thunderstorms accounted for 70% of total insured losses, while the February earthquake in Turkey and Syria…
By Safiyah Riddle (Reuters) – The average U.S. 30-year mortgage rate jumped to a nine-month peak on Wednesday and hit the second-highest rate since 2001, as interest rates reacted sharply to a downgrading of U.S. government debt. The average 30-year mortgage rate shot up to 7.09% for the week ending Aug. 4, a 16 basis…
By Victoria Waldersee BERLIN (Reuters) -Continental said it was fighting for price increases in negotiations with customers and seeking ways to further cut inventory to improve its automotive business performance. The German auto parts supplier is betting on higher pricing and a focus on premium products to compensate for a declining market in its tyres…
By Tilman Blasshofer WINTZENHEIM, France (Reuters) – Eleven people died in a fire that tore through a holiday home for disabled people in eastern France in the early hours of Wednesday, officials said. The blaze broke out around 6.30 a.m. (0430 GMT), as the holiday-goers with learning disabilities and their carers were still asleep in…
(Reuters) – General Motors is still struggling to ramp up production of electric vehicles, a top executive said on Wednesday. Speaking at a J.P. Morgan investor conference, GM Chief Financial Officer Paul Jacobson said the automaker’s electric vehicles, from Cadillac Lyriq SUVs to BrightDrop vans, had been affected by an issue with assembling battery modules…
By Samrhitha A (Reuters) -Online gaming platform Roblox missed estimates for second-quarter bookings on Wednesday as waning demand for its online games and intensifying competition hurt growth, sending its shares down nearly 20%. Shares of the company were set for their worst day in 10 months and on track to erase nearly all its gains…
