By Doyinsola Oladipo NEW YORK (Reuters) – Airbnb Inc on Thursday filed a lawsuit against New York City over a new law it called a “de facto ban” against short-term rentals set to go into effect in July, which the company says will limit the number of people who can host rentals in the city….
(Reuters) – Warner Bros Discovery Inc senior executive David Leavy has been appointed as chief operating officer of CNN Worldwide, effective June 20, the media network said on Thursday. Leavy, who currently serves as chief corporate affairs officer for Warner Bros Discovery, will assume responsibility over commercial, operational and promotional activities across CNN Worldwide. Ever…
By Andrew Goudsward (Reuters) – Outdoor clothing retailer Patagonia Inc has settled its lawsuit accusing Gap Inc of illegally copying the “iconic” snapped flap pocket that the company has long featured on its fleece outerwear. The judge dismissed the case on Wednesday after the companies told the court that they had reached a settlement and…
By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators will decide by July 6 whether to clear Amazon.com Inc’s $1.7 billion acquisition of the maker of robot vacuum cleaner iRobot Corp, according to a European Commission filing on Thursday. U.S. online retailer Amazon announced the takeover in August last year that will boost its…
By Andrew Chung (Reuters) -The U.S. Supreme Court on Thursday gave Salesforce Inc’s Slack Technologies another chance to avoid a lawsuit over the workplace communications software company’s 2019 direct listing. In a 9-0 ruling, the justices threw out a lower court’s decision that had let the proposed class action lawsuit filed by shareholder Fiyyaz Pirani…
By Savyata Mishra (Reuters) – Dollar General Corp cut its sales and profit forecasts for the year on Thursday as Americans, pinched by higher prices, shopped more for essentials and pared back purchases in categories including home goods and clothes, leading its shares down 14%. The discount store chain saw traffic to its stores decline…
WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased modestly last week, suggesting the labor market remains tight despite growing fears of a recession amid higher borrowing costs. Initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 232,000 for the week ended May 27. Economists polled by…
(Reuters) -Dollar General Corp cut its full-year same-store sales and profit forecasts on Thursday as inflation-hit Americans, discouraged by higher prices for everything from home goods to consumables, tightened spending. The company’s shares slid about 9% in premarket trading after it also posted weaker-than-expected first-quarter results. American shoppers, economically strained by sticky food inflation, have…
By Michael Erman (Reuters) – Swiss drugmaker Roche Holding AG plans to sell its 800-employee drug manufacturing plant in Vacaville, California, or it will shut the factory by 2029, according to e-mailed letters to workers seen by Reuters on Wednesday. In a statement, Roche confirmed the divestiture plan for the site, which makes monoclonal antibodies…
By Jonathan Cable and Leika Kihara LONDON/TOKYO (Reuters) -Sluggish global demand deepened the decline in manufacturing activity across Europe and remained a major challenge for many of Asia’s big exporters, business surveys for May showed on Thursday. Purchasing managers’ indexes (PMIs) for the euro zone moved further below breakeven despite factories cutting prices for the…
