(Reuters) -Activist investor Elliott Management Corp has decided to back Marlboro-maker Philip Morris International’s (PMI) $16 billion offer for Swedish Match AB, the Financial Times reported on Sunday. Elliott has tendered its shares in the Swedish target, the FT said, bringing PMI closer to the 90% threshold required for forced redemption of remaining minority stakeholders….
(Reuters) – China Evergrande Group said on Sunday its interests in a plot of undeveloped land for residential development in Hong Kong’s Yuen Long district have been sold by its receivers for $636.94 million. The proceeds will be used to repay some of the company’s financial obligations in relation to the project and a loss…
By Gabriel Araujo SAO PAULO (Reuters) – In South America, home to the some of the world’s starriest soccer players from Argentina’s Lionel Messi to Brazil’s Neymar, avid fans are starting to get jitters about their countries’ World Cup chances – and the rising cost of supporting them. The region of about 650 million people…
BEIJING (Reuters) – China on Sunday said it will take the necessary steps to safeguard the rights and interests of its companies after Canada last week ordered three Chinese companies to divest their investments in Canadian critical minerals, citing national security. In a statement, China’s commerce ministry said it urged Canada to stop politicising economic…
By Doyinsola Oladipo NEW YORK (Reuters) – Home Depot Inc retail workers voted against forming a union at a location in Pennsylvania, the U.S. National Labor Relations Board (NLRB) said on Saturday. Employees at a Philadelphia, Pennsylvania, store voted against joining the independent union Home Depot Workers United and the union did not secure the…
By Rhea Binoy (Reuters) -Twitter on Saturday updated its app in Apple’s App Store to begin charging $8 for sought-after blue check verification marks, in Elon Musk’s first major revision of the social media platform. The change comes a week after Musk took over the social media company in a $44 billion deal. The billionaire…
(Reuters) – The U.S. Powerball jackpot that will be drawn on Saturday night is the largest lotto prize ever offered at an estimated $1.6 billion, breaking the previous world record the game set in 2016, according to lottery officials. No one has won the jackpot since Aug. 3, allowing the prize money to mushroom and…
By Jonathan Stempel (Reuters) – Warren Buffett’s Berkshire Hathaway Inc could soon see a boost to its bottom line after changing its accounting for its big stake in Occidental Petroleum Corp. In its quarterly report on Saturday, Berkshire said it adopted the equity method of accounting for its 20.9% stake in Occidental, which is worth…
By Jonathan Stempel (Reuters) -Warren Buffett’s Berkshire Hathaway Inc on Saturday posted a $2.69 billion third-quarter loss as rising inflation, falling stock investments and a big loss from Hurricane Ian offset improvement in many of the conglomerate’s businesses. Operating profit nevertheless rose by 20%, topping analyst forecasts. Berkshire benefited from increased demand and prices for…
By Jonathan Stempel (Reuters) -Warren Buffett’s Berkshire Hathaway Inc on Saturday posted a $2.69 billion third-quarter loss as rising inflation, falling stock investments and a big loss from Hurricane Ian offset improvement in many of the conglomerate’s businesses. Operating profit, meanwhile, rose by 20%, as Berkshire benefited from increased demand and prices for new home…
