(Reuters) – Activist investor Elliott Investment Management has dissolved its stake in payments giant PayPal, according to a filing with the U.S. Securities and Exchange Commission. (Reporting by Manya Saini in Bengaluru; Editing by Shilpi Majumdar)
Amazon.Com, Inc (NASDAQ:AMZN) is embarking on a fresh initiative geared towards delivering orders in a more eco-friendly manner, reducing excess packaging and appealing to environmentally-conscious shoppers. In a bid to address customer concerns regarding excessive packaging, CEO Andy Jassy is leading this drive, aiming to strike a chord with those who are environmentally mindful, as…
(Reuters) – Brazilian investment manager and broker XP on Monday reported a rise in second-quarter revenue, helped by a rebound in the capital markets that saw its client assets breach the 1-trillion-reais mark, and robust demand for its card products. Investor risk appetite has rebounded this year in line with a rally in the global…
By Pete Schroeder WASHINGTON (Reuters) – The U.S. dollar hit its highest levels in more than a month on Monday amid worries over China’s economy, while Wall Street struggled for any clear picture ahead of fresh data on consumer appetite. The dollar index, which tracks the greenback versus a basket of six currencies, was last…
By Dietrich Knauth NEW YORK (Reuters) – Crypto lender Celsius Network on Monday received a U.S. bankruptcy judge’s permission to seek creditor approval for its bankruptcy plan, advancing a proposal to exit Chapter 11 as a new entity owned by its creditors. Judge Martin Glenn signed off on Celsius’s disclosure statement and solicitation materials at…
By Jonathan Stempel (Reuters) – Kellogg and its Kashi unit have defeated appeals seeking to revive two proposed class actions accusing them of deceiving consumers about the protein content of their products. In a 3-0 decision on Monday, the 9th U.S. Circuit Court of Appeals in San Francisco agreed with a lower court judge that…
By Bhanvi Satija and Pratik Jain (Reuters) -The U.S. Food and Drug Administration on Monday granted accelerated approval to Pfizer’s therapy for treating patients with a type of blood cancer that is difficult to treat, the company said. The health regulator’s decision allows use of the therapy, branded as Elrexfio, in patients with multiple myeloma…
By Luc Cohen NEW YORK (Reuters) -Sam Bankman-Fried will prepare for his fraud trial from a Brooklyn jail where inmates ranging from convicted sex trafficker Ghislaine Maxwell to Honduras’ former president have complained of subpar conditions. U.S. District Judge Lewis Kaplan in Manhattan ruled on Friday that Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX,…
By David Randall NEW YORK (Reuters) – Basswood Capital, Adage Capital Partners and Paul Tudor Jones’ Tudor Investment Corp were among the hedge funds that took new positions in real estate investment trusts that specialize in New York City office space last quarter, despite questions over how long work-from-home policies will weigh on the market,…
By Carolina Mandl NEW YORK (Reuters) – U.S.-based hedge fund investors including Coatue, D1 Capital and Tiger Global cut their exposure to Chinese companies in the second quarter, as the country’s economic prospects seemed to wobble and geopolitical tension increased. Tiger Global slashed its position in JD.com by roughly 12%, to $719.3 million from $1.1…
