(Reuters) -Activist investor Engaged Capital is planning a proxy fight for three board seats at high-end burger chain Shake Shack, the Wall Street Journal reported on Sunday, citing people familiar with the matter. Including swaps, Engaged has a roughly 6.6% stake in the chain, the report said. The U.S.-based shareholder activist has determined ways to…
REHOBOTH BEACH, Delaware (Reuters) -U.S. President Joe Biden said on Sunday he expects to meet with congressional leaders on Tuesday for talks on a plan to raise the nation’s debt limit and avoid a catastrophic default. Speaking to reporters in Delaware, Biden said he remained optimistic about agreeing on a deal. Biden had been scheduled…
By Trevor Hunnicutt and Andreas Rinke WASHINGTON/BERLIN (Reuters) – Leaders of the Group of Seven (G7) nations plan to tighten sanctions on Russia at their summit in Japan this week, with steps aimed at energy and exports aiding Moscow’s war effort, said officials with direct knowledge of the discussions. New measures announced by the leaders…
By Jorge Otaola and Maximilian Heath BUENOS AIRES (Reuters) -Argentina’s government announced a package of measures to rein in soaring inflation and support the wobbly peso currency on Sunday, including rate adjustments, more interventions in the exchange market and expedited deals with creditors. The measures include an interest rate hike by the central bank,…
By Fergal Smith TORONTO (Reuters) – Signs of recovery in Canada’s housing market after a year-long slump, just as higher borrowing costs are expected to slow much of the rest of the economy, could raise inflation and delay a shift by the central bank to interest rate cuts, analysts said. The housing market’s upturn comes…
By Lewis Krauskopf NEW YORK (Reuters) -A U.S. stocks rally is leaving behind smaller companies, a sign that investors may be bracing for economic turmoil ahead. The small-cap Russell 2000 is down about 1% this year, compared to a rally that has boosted the S&P 500, an index representing the largest U.S. companies, 7% year-to-date….
By Jonathan Spicer ISTANBUL (Reuters) -If Turks oust President Tayyip Erdogan in elections this month it will largely be because of an economic reversal that saw their prosperity, equality and ability to meet basic needs start to tumble midway through his two-decade reign. The May 14 vote, which lands during the Turkish Republic’s centenary year,…
By Jonathan Stempel (Reuters) – Squishmallows joined Warren Buffett’s business empire two years after Lady Gaga, Kim Kardashian and others helped make the plush stuffed toys a viral sensation on TikTok. For Judd and Laura Zebersky, whose company Jazwares makes the toys, the success of Squishmallows is hardly what they imagined when they met 33…
FRANKFURT (Reuters) – European Central Bank interest rate hikes are in their final stretch, ECB Vice President Luis de Guindos told an Italian newspaper, while warning that higher borrowing costs could put stress on banks’ asset quality, even if indicators so far remain healthy. The ECB has raised rates by a combined 375 basis points…
WASHINGTON (Reuters) – President Joe Biden said on Saturday that talks with Congress on raising the U.S. government’s debt limit were moving along and more will be known about their progress in the next two days. “I think they are moving along, hard to tell. We have not reached the crunch point yet,” Biden told…
