(Reuters) – A.G. Barr on Tuesday warned of a hit to its operating margins in the short term due to inflationary pressures and acquisitions, even as the Irn-Bru maker forecast annual profit growth in line with its expectations. The warnings comes after the beverage maker reported a 13.3% rise in adjusted profit before tax for…
By Jamie McGeever ORLANDO, Florida (Reuters) -The most extraordinary outcome of the March banking shock would be if the problem dissipated quickly. Many people hope the crisis of confidence infecting global banking this month can be repelled almost as quickly as it appeared. After all, regulators and policymakers are faster and more comprehensive in their…
By Scott Murdoch and Praveen Menon SYDNEY (Reuters) – Canada’s Brookfield and its partner EIG decided to go ahead with a $10.2 billion plan to buy Australia’s Origin Energy Ltd despite escalating regulatory and government policy headwinds, senior management at the group said on Tuesday. Origin, Australia’s top energy retailer, on Monday agreed to the…
By Praveen Menon and Scott Murdoch SYDNEY (Reuters) – Brookfield Asset Management will spend about $13.3 billion over the next decade to replace Origin Energy’s Australian power generation infrastructure with new-build renewables and storage facilities, a senior executive said on Tuesday. Origin Energy on Monday agreed to a A$15.35 billion ($10.21 billion) takeover offer from…
(Corrects to clarify Howard Schultz’s designation in the fourth paragraph) (Reuters) – Starbucks Corp violated federal law by refusing to fairly negotiate with workers at dozens of newly-unionized cafes across the country, Bloomberg News reported on Monday, citing prosecutors from the National Labor Relations Board (NLRB). The general counsel of the NLRB determined that the…
By Xie Yu HONG KONG (Reuters) – Global stocks and U.S. bond yields rose on Tuesday, as a U.S. regulator-backed deal by First Citizens BancShares to buy failed Silicon Valley Bank soothed wider worries about problems in the sector. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.3% by early morning Hong Kong…
TOKYO (Reuters) – Japan will sign a mineral supply chain agreement with the United States that will give U.S. tax incentives for electric vehicles made with metals processed in Japan, trade minister Yasutoshi Nishimura told reporters on Tuesday. The U.S. last June announced a multinational pact called Minerals Security Partnership with Japan, Canada and other…
By Rachel Savage JOHANNESBURG (Reuters) – China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building “Belt & Road” infrastructure, according to a study published Tuesday. Almost 80% of the rescue lending was made between 2016…
By Daniel Wiessner (Reuters) – A trial kicked off in San Francisco federal court on Monday to determine how much money Tesla Inc must pay to a Black elevator operator whom a jury determined was subjected to severe racial harassment while working at the electric auto maker’s flagship assembly plant. A lawyer for plaintiff Owen…
By Joey Roulette (Reuters) – Billionaire Richard Branson’s cash-strapped Virgin Orbit Holdings will extend an unpaid furlough for most of its employees as talks seeking new funding continue, the company’s chief executive said in an email to employees on Monday. “Our investment discussions have been very dynamic over the past few days, they are ongoing,…
