By Tom Polansek CHICAGO (Reuters) – Tyson Foods Inc will eliminate about 10% of corporate jobs and 15% of senior leadership roles, Chief Executive Donnie King told employees on Wednesday. The layoffs are the latest cost-cutting move for the biggest U.S. meat company by sales as it grapples with declining profit and struggles to improve…
TOKYO (Reuters) – Nomura Holdings Inc shares dropped more than 7% early on Thursday after Japan’s biggest brokerage posted a sharp fall in quarterly net profit as worries about a global banking crisis roiled markets and hit its investment banking business. Nomura on Wednesday reported a 76% fall in January-March net profit, joining Wall Street…
By David Morgan and Richard Cowan WASHINGTON (Reuters) – The U.S. House of Representatives on Wednesday narrowly passed a bill to raise the government’s $31.4 trillion debt ceiling that includes sweeping spending cuts over the next decade. The bill isn’t expected to pass the Senate, and President Joe Biden would veto it if it did…
BUENOS AIRES (Reuters) -Argentina will start to pay for Chinese imports in yuan rather than dollars, the government announced Wednesday, a measure that aims to relieve the country’s dwindling dollar reserves. In April, it aims to pay around $1 billion of Chinese imports in yuan instead of dollars and thereafter around $790 million of monthly…
By Yuvraj Malik (Reuters) -EBay Inc on Wednesday forecast current-quarter revenue above Wall Street projections after beating March-quarter earnings estimates, as it benefits from its strategy of focusing on product categories including sneakers and watches. A selective push from the ecommerce firm also on items like collectibles and refurbished products is helping it drive sales…
By Katie Paul and Akash Sriram (Reuters) -Meta Platforms Inc CEO Mark Zuckerberg said on Wednesday that AI was helping the company boost traffic to Facebook and Instagram and earn more in ad sales, as it forecast quarterly revenue well above analyst expectations. Meta shares surged 12% in after hours trading, adding over $50 billion…
(Corrects designation of Boerner in paragraph 2) (Reuters) -Bristol Myers Squibb Co said on Wednesday CEO Giovanni Caforio, who has been in the role since 2015, has decided to step down from his position. Chief Commercialization Officer Christopher Boerner will take up the role from Nov. 1. He was previously head of international markets and…
By Nupur Anand, Saeed Azhar and Niket Nishant (Reuters) -First Republic Bank’s market value plunged again on Wednesday as investors waited to see if it would be able to find buyers for assets and engineer a turnaround without government support. In a brutal sell-off, the bank’s market capitalization briefly sank as much as 41% to…
(Refiles to fix formatting) By Laila Kearney NEW YORK (Reuters) – Oil prices dropped by almost 4% on Wednesday, extending the previous session’s sharp losses, even after a report showed U.S. crude inventories fell more than expected, as recession fears grew for the world’s biggest economy. Brent crude settled at $77.69 a barrel, losing $3.08,…
By Dawn Chmielewski and Lisa Richwine (Reuters) -Walt Disney Co sued Florida Republican Governor Ron DeSantis on Wednesday, asking a court to overturn state efforts to control Disney World and intensifying a battle between a global entertainment giant and a likely White House contender. In its lawsuit, Disney accused DeSantis and his supporters of illegally…
