(Reuters) -British chip designer Arm Ltd is targeting an initial public offering (IPO) at a valuation of between $60 billion and $70 billion as soon as September, Bloomberg News reported on Wednesday, citing people familiar with the matter. The roadshow is scheduled to start in the first week of September with pricing for the IPO…
(Reuters) – World Wrestling Entertainment said on Wednesday U.S. federal law enforcement agents executed a search warrant and served a subpoena to Executive Chairman Vince McMahon last month, though no charges were brought against him. WWE, which reported its second-quarter results on Wednesday, said McMahon has been on a medical leave since July 11 after…
(Reuters) -BofA Global Research on Wednesday forecast a “soft landing” for the U.S. economy and increased its 2023 economic growth outlook for the country on the back of incoming data. The brokerage no longer expects a mild recession in 2024 and sees real gross domestic product growing 2.0% on average this year, up from a…
By Nelson Acosta and Marc Frank HAVANA (Reuters) – The Cuban peso was trading on the informal market at an all-time low of 230 to the dollar on Wednesday, slumping to half its value a year ago as consumers struggle with surging inflation and scarce goods, a widely watched tracker showed. The state considers the…
By Stephanie Hamel and Diana Mandia (Reuters) – JDE Peet’s NV will from the end of the year sell coffee and tea in Russia only under local brands, it said on Wednesday, as it lowered its annual earnings target, saying the business impact was uncertain. Shares were down 1.6% at 1300 GMT The maker of…
By Jorgelina do Rosario and Karin Strohecker LONDON (Reuters) – A helping hand from China saw Argentina avert a default with the International Monetary Fund for the second time in 30 days, as the cash-strapped country tapped almost $3 billion of a Beijing currency swap line to pay the multilateral lender. Accessing yuan to make…
LISBON (Reuters) – Pope Francis arrived in Lisbon on Wednesday to start a five-day visit centred around the World Youth Day, a global gathering of young Catholics. The ITA Airways plane carrying the pontiff, his entourage and reporters landed at Lisbon’s Figo Maduro military air base. His first stop will be a welcoming ceremony hosted…
(Reuters) – CVS Health said on Wednesday it has eliminated about 5,000 non customer-facing roles as it seeks to rein in costs after a recent spree of acquisitions. CEO Karen Lynch said on an earnings conference call that the $496 million restructuring charge recorded during the second quarter was related to the job cuts and…
By Lisa Richwine STUDIO CITY, California (Reuters) – For actors trying to make it in Hollywood, a small residual check from one of their first jobs used to prompt laughter, and at one neighborhood watering hole, a drink on the house. Residuals Tavern provided a free beer to any performer who brought in a check…
LONDON (Reuters) – Vodafone said on Wednesday it had agreed a long-term, exclusive national roaming partnership deal to provide 5G mobile coverage to 1&1’s customers in Germany, in a deal which it said would be cashflow accretive from its 2026 financial year. Vodafone’s new Chief Executive Margherita Della Valle is leading a turnaround of the…
