(Reuters) – OPEC has withheld media access to reporters from Reuters, Bloomberg and the Wall Street Journal to cover a meeting of oil industry CEOs with energy ministers from OPEC and its allies, reporters and several people familiar with the matter said on Wednesday. The three media organizations are among the world’s leading suppliers of…
By Savyata Mishra (Reuters) -General Mills on Wednesday forecast full-year profit largely below analysts’ estimates as price hikes to counter inflation dent demand for its ready-to-eat cereals and meal kits. Shares of the Cheerios cereal maker fell as much as 5.7% to a more than four-month low after General Mills also missed net sales estimate…
(Reuters) – Bed Bath & Beyond is splitting the bankruptcy-run auction of its Buy Buy Baby chain into two phases, CNBC reported on Wednesday, citing people familiar with the matter. An auction was originally scheduled for 10 a.m. on Wednesday, the report said, adding that now only bids for the chain’s intellectual property, including its…
By David Carnevali NEW YORK (Reuters) – U.S. military chip maker Mercury Systems Inc is locked in an unusual dispute with its former chief executive who is demanding a payout, most recently valued at $33 million, because the company tried to sell itself, regulatory filings show. Mark Aslett, who had served as Mercury’s CEO since…
By Chuck Mikolajczak NEW YORK (Reuters) – The dollar index rose on Wednesday following comments from a host of global central bank leaders, including Federal Reserve Chair Jerome Powell, who did not rule out the possibility of another rate hike by the Fed at its next meeting in July. Powell, speaking at a European Central…
By Andrew Goudsward (Reuters) – Bankrupt cryptocurrency exchange FTX sued one of its former top lawyers, accusing him of aiding fraud by company founder Sam Bankman-Fried and silencing whistleblowers who reported wrongdoing at the company. The complaint, filed on Tuesday in U.S. Bankruptcy Court in Delaware, describes Daniel Friedberg, a former chief compliance officer at…
(Reuters) – Federal prosecutors are investigating whether a broker at Spartan Capital Securities traded on confidential information about planned mergers and acquisitions illegally obtained from Morgan Stanley, the Wall Street Journal reported on Wednesday. Jordan Meadow’s communications with five people, including a former Morgan Stanley employee, are under the scanner, the report said, citing people familiar…
By Kanishka Singh WASHINGTON (Reuters) – The United States and China agreed to consider expanding commercial flights between the two countries to improve people-to-people contact, the top U.S. diplomat for East Asia, Daniel Kritenbrink, said on Wednesday. He told a Center for Strategic and International Studies think tank event in Washington that the countries agreed…
WASHINGTON (Reuters) – The U.S. public debt burden will reach 181% of economic output in 2053, the Congressional Budget Office said on Wednesday, a slight improvement over recent long-term projections due to discretionary spending caps enacted as part of the recent deal to raise the federal debt ceiling. The nonpartisan CBO said that U.S. budget…
ZURICH (Reuters) -Swiss inflation is proving broader-based and more persistent than initially thought, Swiss National Bank Governing Board member Andrea Maechler said on Wednesday, reiterating the central bank’s commitment to fighting price rises. Inflation had originally been triggered by oil price rises, supply chain disruptions and tight labour markets after the COVID pandemic, but had…
