(Reuters) – Trucking company Yellow Corp’s assets have attracted significant bidders and their sale could likely surpass the company’s $1.4 billion in secured debt, Fox Business reported on Tuesday, citing people with direct knowledge of the matter. That means stock holders will get a payday if significant unsecured debt creditors do not emerge, Fox Business…
By Dietrich Knauth NEW YORK (Reuters) – The International Brotherhood of Teamsters on Tuesday called for changes to U.S. bankruptcy laws following the Chapter 11 filing of freight trucking company Yellow Corp, saying that workers must not be “left behind” when big businesses fail. The Teamsters union said 22,000 of its members were out of…
By Boureima Balima and Abdel-Kader Mazou NIAMEY (Reuters) -Niger was slapped with more sanctions on Tuesday, hours after its new military leaders rejected the latest diplomatic mission aimed at restoring constitutional order following a July 26 coup. Nigerian President Bola Tinubu ordered the new sanctions through Nigeria’s central bank, aimed at squeezing those involved in…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The first round of top-tier Chinese economic data this week was a blow for those hoping the world’s second-largest economy was emerging from its deep funk, so what will the second round on Wednesday bring?…
CIUDAD JUAREZ, Mexico (Reuters) – Hundreds of migrants gathered alongside the U.S. border in the northern Mexican city of Ciudad Juarez late on Monday, after false rumors spread via social media and word-of-mouth that the U.S. would allow entry to a mass group. Some said they had been waiting weeks to secure appointments to request…
By Chris Prentice WASHINGTON (Reuters) -U.S. regulators on Tuesday fined nine Wall Street companies, including Wells Fargo, BNP Paribas and Société Générale $549 million over employees’ use of personal messaging apps to discuss deals, trades and other business. The penalties mark the latest wave of a sweeping two-year enforcement probe targeting Wall Street’s use of…
(Reuters) -Walt Disney’s ESPN and casino-owner Penn Entertainment have agreed to jointly launch a sports betting business under the brand ESPN Bet, the two companies said on Tuesday. Shares of Penn gained 20% on the news, while those of DraftKings – one of the top fantasy sports and betting firms – fell 9% in extended…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices edged higher on Tuesday as a U.S. government agency projected a rosier outlook on the economy, but bearish data on China’s crude imports and exports weighed. Brent crude futures gained 83 cents to settle at $86.17 a barrel. U.S. West Texas Intermediate crude rose 98 cents to…
By David Ljunggren OTTAWA (Reuters) – The shortage of affordable housing in Canada is “a very serious challenge” that could ease as inflation eases and interest rates become more predictable, newly-appointed Housing Minister Sean Fraser told Reuters on Tuesday. Fraser was appointed last month as part of a wide-ranging shuffle by Prime Minister Justin Trudeau…
By Daniel Wiessner (Reuters) -Southwest Airlines Co on Tuesday said it will appeal a Texas federal judge’s unusual order requiring three of its senior lawyers to attend “religious liberty training” by a prominent conservative Christian legal group. The airline in a statement confirmed that it would file an appeal one day after U.S. District Judge…
