(Reuters) – Overstock.com will buy certain assets of bankrupt home goods retailer Bed Bath & Beyond for $21.5 million, the online retailer said on Tuesday. The deal, designated a “stalking horse” bid under the U.S. Bankruptcy Code, will include intellectual property, business data, rights to mobile applications, and will also assume certain liabilities of Bed…
By Tim Hepher PARIS (Reuters) -Global aviation needs $4 trillion over the next 20 years to fund new commercial deliveries and transform the world’s fleet to reduce emissions, leasing firm Avolon said on Tuesday. Airlines and leasing companies will take delivery of 44,300 commercial passenger aircraft by 2042, of which approximately half will be for…
By Nivedita Balu TORONTO (Reuters) -Canada’s financial regulator is urging lenders to tackle risks from mortgage extensions at the “earliest opportunity” as many borrowers try to navigate higher mortgage costs after the Bank of Canada’s surprise rate hike last week. The Office of the Superintendent of Financial Institutions’ (OSFI) urgency underscores the concern about the…
LONDON (Reuters) -Bank of England Governor Andrew Bailey said on Tuesday that official data published earlier in the day showed the labour market was “very tight”, and added that inflation had been slower to fall than the central bank had hoped. Economists expect the BoE to raise its main interest rate to 4.75% from 4.5%…
By Katie Paul NEW YORK (Reuters) – Meta Platforms said on Tuesday that it would provide researchers with access to components of a new “human-like” artificial intelligence model that it said can analyze and complete unfinished images more accurately than existing models. The model, I-JEPA, uses background knowledge about the world to fill in missing…
(Reuters) – Ryan Cohen has bought GameStop stock worth $10 million, a securities filing showed on Tuesday, in a sign that the activist investor was trying to boost shareholder morale after the company lost its fifth CEO in five years last week. Shares of the company jumped 7.7% in early trading. They are down nearly…
(Reuters) – The top U.S. consumer watchdog on Tuesday defended a proposal to limit late fees charged on credit card balances, a move that has faced fierce opposition from the banking industry. In testimony before the Senate, Consumer Financial Protection Bureau Director Rohit Chopra rejected arguments by banks that capping late fees would force them…
(Reuters) -British cinema chain operator Cineworld is preparing to file for administration as a part of a financial restructuring plan, Sky News reported on Tuesday. The company is lining up AlixPartners to act as administrator to help with the transfer of ownership to its lenders, the report added. An announcement is expected to be made…
By Howard Schneider WASHINGTON (Reuters) – Federal Reserve officials for months have been counting on slower-rising U.S. housing prices to help in their efforts to control inflation, and there are good reasons to think that may happen soon. An oft-cited index of real-time leases prepared by real estate firm Zillow, for example, shows rental inflation…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Hedge fund Arex Capital Management is urging Enhabit to put itself up for sale and wants the home health and hospice provider to begin a strategic review to help reverse a 50% slide in its share price, according to a letter seen by Reuters. Enhabit is already interviewing…
