(Reuters) – Debt-laden Chinese developer Country Garden expects to report a net loss for the first half of 2023 and said it would take measures to meet its debt obligations and fix operational issues to get the company back on track, it said on Thursday. The company said it has set up a special task…
BRASILIA (Reuters) – Brazil’s central bank Governor Roberto Campos Neto said on Thursday that improving public revenue would anchor inflation expectations in line with official targets, paving the way for further interest rate cuts. The administration of Brazilian President Luiz Inacio Lula da Silva has promised measures to increase revenue and says they are vital…
(Reuters) – Biotech firm Amyris Inc on Wednesday said it has filed for Chapter 11 bankruptcy in a U.S. court and is planning to sell its consumer brands to improve the company’s liquidity position. Amyris said it has secured a $190 million financing commitment to support day-to-day operations, adding that its entities outside the U.S….
By Danielle Broadway and Dawn Chmielewski LOS ANGELES (Reuters) – Walt Disney Chief Executive Bob Iger on Wednesday said he was committed to finding a solution to the Hollywood writer and actor strikes, citing his “deep respect” for creative professionals, as he signaled a turn from comments that inflamed tensions last month. Iger last month…
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…
