MADRID (Reuters) – Sacyr is negotiating with Spanish firm Bestinver to sell its 45% stake in the Irish motorway N6 and thus fully exit the concessions business in Ireland, two people familiar with the talks said on Friday. Sacyr, which is moving forward this year with plans to divest its environmental and facilities businesses, has…
NEW YORK (Reuters) – Federal Reserve Chairman Jerome Powell said Friday that the aftereffects of recent banking sector troubles takes some pressure off the U.S. central bank to raise rates. Tighter credit conditions mean that “our policy rate may not need to rise as much as it would have otherwise to achieve our goals,” Powell…
By Giselda Vagnoni ROME (Reuters) – After three years of pandemic travel restrictions and rocketing energy costs, tourism is back with a vengeance to boost the economies of southern Europe as sun-seekers make up for lost time. Early bookings suggest Italy, Spain, Greece and Portugal could receive record tourism revenues this year, helping replenish state…
By Daniel Wiessner (Reuters) – A U.S. labor board official has accused the University of Southern California of blocking student athletes from unionizing by not treating them as employees, in the latest case to challenge the longstanding business model of college athletics. The National Labor Relations Board’s Los Angeles office in a complaint announced late…
BERLIN (Reuters) – Volkswagen has completed the sale of its Kaluga production plant in Russia and its local subsidiaries, the German carmaker said on Friday, ending months of wrangling with Russian authorities over the deal. Volkswagen has sold its shares in Volkswagen Group Rus LLC to Art-Finance LLC, which is supported by autodealer group Avilon,…
(Reuters) – Morgan Stanley will likely appoint its next CEO in the next 12 months, its current Chief Executive James Gorman said on Friday. Gorman, 64, told shareholders that the Wall Street firm’s board has identified three strong candidates to succeed him. Gorman will become executive chairman once a new CEO is chosen. Here are…
By Maya Gebeily (Reuters) – Every handshake would count, and Syria’s President Bashar al-Assad had plenty of them at Friday’s Arab League Summit – along with hugs and kisses – from his onetime foes in the region. As he strolled into the summit venue in the Saudi city of Jeddah on Friday afternoon, a beaming…
By Medha Singh (Reuters) – The New York Stock Exchange and the Nasdaq said on Thursday they would cancel erroneous trades in the shares of IT solutions provider CDW Corp, which briefly plunged as much as 96% to $7 in premarket trading. They would bust all trades in the stock between 04:00 a.m. ET and…
By Richard Cowan, Leah Douglas WASHINGTON (Reuters) -Democrats in the U.S. Congress expressed frustration with President Joe Biden’s willingness to engage with Republicans demanding tougher work requirements for food aid recipients as part of any deal to raise the nation’s debt ceiling. They have stopped short of threatening to block such moves, as talks on…
By Nupur Anand NEW YORK (Reuters) -Bankers are beefing up risk management, monitoring and emergency procedures around the use of social media after an internet-fueled run toppled Silicon Valley Bank two months ago and sparked turmoil in the industry. In board rooms across the United States, executives are devising programs and plans to counteract online…
