By Mrinmay Dey (Reuters) -Lawyers for FTX founder Sam Bankman-Fried rejected prosecutors’ claims that his discussions with a New York Times reporter amounted to witness tampering but agreed to accept a gag order, they said in a letter to the judge in the criminal fraud case. The letter, released on Sunday, came after prosecutors sought…
By Deborah Mary Sophia (Reuters) – Restaurant chains including McDonald’s and Chipotle Mexican Grill are expected to report strong profits in the second half of 2023 as commodity costs finally ease at a time when demand for items including burgers and tacos has remained fairly resilient. U.S. restaurant chains kick off their quarterly earnings this…
(Reuters) -Johnson & Johnson said on Monday it had launched an exchange offer under which its stockholders can opt for shares of Kenvue <KVUE.N>, its newly listed consumer health unit. J&J, which currently owns an 89.6% stake in Kenvue, said it intends to split off at least 80.1% of the consumer health company’s shares as…
By Divya Rajagopal and Melanie Burton TORONTO/SYDNEY – A fall in copper prices is having an outsized impact on small and mid-sized miners, forcing many to cut output, and some are now open to raising funds from new investors to ride out the current downtrend, several company executives told Reuters. Copper is set to play…
(Reuters) -Lyft said on Monday it was exploring options for its bikes and scooters unit, including a sale or a strategic partnership, the latest move to help turn around the company that has fallen behind Uber in the North American ride-sharing market. Lyft said it has received “strong inbound interest” for the business that operates…
(Reuters) -AMC Entertainment CEO Adam Aron said on Sunday the company filed a revised petition for a stock conversion plan to address the Delaware court’s concerns over other shareholders. AMC had proposed a plan to allow it to convert preferred stock to common stock and issue millions of new shares. It was sued in February…
By Padraic Halpin DUBLIN (Reuters) -Ryanair on Monday struck a cautious tone about travel demand for the rest of the year and cut its passenger growth forecast due to Boeing delivery delays, after its quarterly profit shot past pre-pandemic levels. Ryanair, which flew a record number of monthly passengers both in May and June, said…
(Reuters) – Most brokerages expect two more 25-basis point rate hikes by the European Central Bank (ECB) as inflation remains sticky and central bank policymakers strike a hawkish stance. The ECB deposit rate now stands at a 22-year high of 3.5% following a 25-basis point hike last month. Its euro short-term rate forwards currently implies…
JERUSALEM (Reuters) – The head of Israel’s main public sector union said on Monday he would meet with other union officials to discuss the possibility of declaring a general strike after parliament ratified a key element in a controversial judicial overhaul plan. Arnon Bar-David, chairman of the Histadrut labour federation, has been trying to mediate…
By Naomi Rovnick, Stefano Rebaudo LONDON (Reuters) -The European Central Bank looks set to pull the rate-hike trigger on Thursday, but what it will do after July is less certain and financial markets are craving some guidance. Euro zone interest rates have risen 400 basis points in the last year to 3.5%, their highest in…
