MILAN (Reuters) – UniCredit will use restructuring charges it is set to book this year to fund voluntary exits after receiving some 1,900 requests from staff late last year of which it met less than half, two people close to the matter said. In reporting stronger-than-expected quarterly results, UniCredit on Wednesday raised its profit goal…
(Reuters) – TikTok said on Wednesday it is launching a product that well let advertisers place ads alongside content produced by premium publishers, half of the ad revenue from which will be shared with those publishers. The social media platform said brands including Buzzfeed, DotDash Meredith, NBCUniversal, UFC and WWE will be the first to…
WASHINGTON (Reuters) – United Auto Workers (UAW) President Shawn Fain said the Detroit-based union is not yet endorsing President Joe Biden for a second term, citing concerns about electric vehicle policies. Fain was in Washington last week and met with White House Chief of Staff Jeff Zients and many lawmakers. In a letter to members…
(Corrects to say Marriott gets a “big portion”, not “bulk”, of its revenue from outside the U.S. in paragraph 6) By Priyamvada C and Doyinsola Oladipo (Reuters) -Marriott International Inc reported better-than-expected first-quarter results on Tuesday as the U.S. hotel operator benefited from a global rise in occupancy and room revenue led by domestic travel…
By Andrea Shalal and David Lawder WASHINGTON (Reuters) – The World Bank’s 25-member executive board on Wednesday is poised to elect ex-Mastercard CEO Ajay Banga as the bank’s next president, ushering in an Indian-born finance and development expert charged with revamping the lender to tackle climate change and other global crises. Banga, 63, was nominated…
(Reuters) – Shares of activist investor Carl Icahn’s investment firm lost nearly a fifth of their value on Wednesday, a day after short seller Hindenburg Research launched a scathing attack on the company. Icahn Enterprises LP’s shares were trading at $33.66, giving the company a market value of $11.9 billion. The stock has lost 34%…
By Divya Rajagopal TORONTO (Reuters) -Barrick Gold Corp is not interested in bidding for the copper assets of Teck Resources Ltd as there are fewer synergies between the companies, CEO Mark Bristow said in an interview with Reuters. Bristow’s comments come at a time when Canadian mining company Teck has rebuffed a $22.5 billion unsolicited…
By Noel Randewich (Reuters) -While Wall Street frets that the Federal Reserve’s aggressive interest rate hikes will tip the U.S. economy into a recession, discussions on recent quarterly conference calls hint that corporations and analysts have become a bit less concerned. Terms related to an economic downturn have been uttered less on quarterly earnings calls…
(Reuters) – Spirit AeroSystems Holdings Inc said on Wednesday it expects a $31 million hit to full-year gross profit from disruptions and rework related to affected 737 MAX fuselages. Boeing last month said it had paused deliveries of some 737 MAXs due to a problem involving two fittings that join the aft fuselage made by…
(Reuters) -Canadian retailer Loblaw Companies Ltd on Wednesday reported first-quarter sales rose 6%, helped by strong demand for essential goods including groceries and drugs. Retailers industry-wide have lately been relying on sales of essential goods including groceries, frozen protein and drugs as inflation-hit consumers prioritize spending on everyday needs. Drug retail sales, however, were led…
