CHICAGO (Reuters) -United Airlines and its pilots on Saturday reached a labor agreement that will give the latter a significant pay increase, after the union rejected an earlier offer last year instead to seek even higher wages with pilots in short supply. The pilots will get cumulative 34.5%-40.2% increase in pay raises in a new…
By Jahnavi Nidumolu and Krystal Hu (Reuters) -Twitter’s cash flow remains negative because of a nearly 50% drop in advertising revenue and a heavy debt load, Elon Musk said on Saturday, falling short of his expectation in March that Twitter could reach cash flow positive by June. “Need to reach positive cash flow before we…
By Huw Jones LONDON (Reuters) – Globally agreed rules leave crypto firms with no option but to introduce basic safeguards to prevent the blow-ups seen at FTX exchange and other crypto casualties, the G20’s Financial Stability Board said on Monday. The FSB published on Monday final recommendations requested by the G20 on supervising firms that…
KUALA LUMPUR (Reuters) -Swiss watchmaker Swatch Group has filed a lawsuit against the Malaysian government for confiscating rainbow-coloured watches that celebrate LGBT rights, in an act the company says has damaged its reputation. Homosexuality is a crime in Muslim-majority Malaysia, and rights groups have warned of growing intolerance against the country’s lesbian, gay, bisexual, transgender…
(Reuters) – Ladbrokes-owner Entain on Monday agreed to acquire U.S.-based Angstrom Sports for 122 million pounds ($159.5 million) as it looks to widen its footprint in the country. The acquisition of the sports modelling, forecasting and data analytics company will comprise a total consideration of 81 million pounds and contingent payments over three years, the…
By William Schomberg LONDON (Reuters) – Finance executives at top British firms have turned more cautious in the face of high inflation and rising interest rates and they expect a slowdown in hiring and pay growth, a survey showed on Monday. A quarterly survey by Deloitte found the difference between chief financial officers who were…
LONDON (Reuters) – The jump in interest rates has wiped more than 2 trillion pounds off household wealth in Britain over the last year due to the fall in house prices and the value of bonds which has hit pensions, a report published on Monday showed. But the Resolution Foundation think-tank said younger people could…
(Reuters) -A meeting of global finance ministers, earnings from U.S. companies whose market value exceeds that of some nations’ entire economies, and a pulse-check for Chinese growth are in the market spotlight. G20 finance chiefs kicked off a meeting in India over the weekend to discuss loans to developing countries, among other things, while Tesla…
By Kevin Yao and Joe Cash BEIJING (Reuters) -China’s economy grew at a frail pace in the second quarter as demand weakened at home and abroad, with the post-COVID momentum faltering rapidly and raising pressure on policymakers to deliver more stimulus to shore up activity. Chinese authorities face a daunting task in trying to keep…
COPENHAGEN (Reuters) -Fashion retailer H&M will launch stores and online trade in Brazil in 2025, the company said on Monday. H&M opened its first store in Latin America in Mexico in 2012, and is currently present in Peru, Uruguay, Chile, Colombia, Ecuador, Guatemala, Panama, and Costa Rica. “With a population of over 210 million in…
