By Samrhitha A and Dawn Chmielewski (Reuters) -Paramount Global said it would sell Simon & Schuster to private-equity firm KKR & Co for $1.62 billion in cash, ending a year-long attempt to sell the marquee book publisher. Shares of the media company rose 4% in extended trading after Paramount also beat estimates for second-quarter earnings,…
By Sarah N. Lynch WASHINGTON (Reuters) – As Kenneth Polite steps down this month as the head of the U.S. Department of Justice’s Criminal Division, he will leave behind a flurry of major corporate settlements that he told Reuters in an exit interview will hit federal court dockets soon. Polite, who will join the law…
By Daphne Psaledakis, Humeyra Pamuk and Simon Lewis WASHINGTON (Reuters) – U.S. State Department’s acting No. 2 traveled to Niger and held talks on Monday with senior officials from the country’s junta which seized power last month, but made no progress in meetings she described as “difficult”. U.S. Acting Deputy Secretary of State Victoria Nuland…
HOUSTON (Reuters) – Lina Hidalgo, chief executive of the third-largest U.S. county and the largest one in Texas, has checked in to a medical facility outside the state to be treated for clinical depression, she said on Monday. Hidalgo, a Democrat elected in 2018 to lead the county of 4.9 million residents, has battled Republican…
By David Shepardson WASHINGTON (Reuters) -Major U.S. airlines on Monday asked the Federal Aviation Administration to extend cuts to minimum flight requirements at congested New York City-area airports and a Washington airport, citing a lack of adequate air traffic control staffing. The FAA in March agreed to the request of Delta Air Lines and United…
By Chavi Mehta (Reuters) -Palantir Technologies slightly raised its annual revenue forecast on Monday and said it would buy back shares worth up to $1 billion, banking on growing demand for its artificial intelligence platform. CEO Alexander Karp said the AI platform, launched in April, has users across over 100 organizations, including in the healthcare…
By Ananya Mariam Rajesh (Reuters) -Beyond Meat cut annual revenue forecast and missed second-quarter net sales estimates, as slowing demand for its pricier plant-based meat products shows no signs of recovery, sending shares down 8% in extended trading on Monday. Bogged down by inflationary pressures, customers are opting for lower-priced animal protein over alternatives such…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Wall Street and world stocks may have shrugged off a spike up in long-term U.S. bond yields on Monday, but investors in Asia are likely to be in more cautious mood on Tuesday as they…
By Erwin Seba HOUSTON (Reuters) -Oil prices settled down 1% on Monday, after six straight weekly gains, as investors braced for weaker demand from China and the United States, the world’s two biggest economies. Brent crude settled 90 cents, or 1.04% lower, at $85.34 a barrel. U.S. West Texas Intermediate crude settled down 88 cents,…
NEW YORK (Reuters) – Equity hedge funds ended July with gains of 7.83% so far this year, helped by technology, financials and energy stocks, data provider HFR said on Monday. Equity strategies are leading the industry’s gains in 2023, with a 2.03% last month. Still, they lag the benchmark index S&P 500, which surged 20.65%…
