(Reuters) – Ryan Cohen has bought GameStop stock worth $10 million, a securities filing showed on Tuesday, in a sign that the activist investor was trying to boost shareholder morale after the company lost its fifth CEO in five years last week. Shares of the company jumped 7.7% in early trading. They are down nearly…
By Howard Schneider WASHINGTON (Reuters) – Federal Reserve officials for months have been counting on slower-rising U.S. housing prices to help in their efforts to control inflation, and there are good reasons to think that may happen soon. An oft-cited index of real-time leases prepared by real estate firm Zillow, for example, shows rental inflation…
By Granth Vanaik, Shankar Ramakrishnan and Matt Tracy (Reuters) -The pain is getting deeper for San Francisco as the owners of one of the biggest shopping centers in the city decided to walk away after 20 years, in the face of declining sales, occupancy and foot traffic. Unibail-Rodamco-Westfield said late on Monday it will transfer…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Hedge fund Arex Capital Management is urging Enhabit to put itself up for sale and wants the home health and hospice provider to begin a strategic review to help reverse a 50% slide in its share price, according to a letter seen by Reuters. Enhabit is already interviewing…
NEW YORK (Reuters) – HSBC Holding plc is seeking to become a leading bank for venture capital firms and startups globally after building a large team of technology and healthcare bankers in the United States, Hong Kong and Israel, a senior executive said. The bank is already doing venture-type lending to startup companies in India…
By David Shepardson WASHINGTON (Reuters) – Transportation Secretary Pete Buttigieg on Tuesday pledged federal support for rebuilding a major U.S. highway after a portion collapsed in Philadelphia over the weekend, snarling traffic and upending commutes. Buttigieg toured the scene and met with Pennsylvania officials. He said the federal government plans to provide emergency funding to…
(Reuters) -Shares of Manchester United jumped 13% to hit a two-month high on Tuesday after a report hinted that Qatar’s Sheikh Jassim bin Hamad al-Thani was likely to succeed with his takeover bid for the English football club. Qatar’s Al-Watan newspaper reported on Tuesday that Sheikh Jassim, son of a former prime minister of the…
(Reuters) – U.S. Bancorp’s Andy Cecere forecast a “moderate” recession that would be short and “not very deep in terms of severity,” CEO of the lender said at a conference on Tuesday. He also said one more interest rate hike was expected from the Federal Reserve in the summer. The Fed has been pushing up…
(Reuters) – Walmart said on Tuesday it would invest $257 million to open a beef-packing plant in Olathe, Kansas in 2025, which would create more than 600 jobs. The facility will package and distribute cuts of the higher grade Angus beef from Sustainable Beef LLC. Walmart had acquired a minority stake in the ranch-based beef…
By Nandita Bose and Trevor Hunnicutt WASHINGTON (Reuters) – U.S. President Joe Biden will travel to California next week to raise campaign cash from tech and climate donors as he races to raise over a billion dollars for his re-election fight, according to two sources with knowledge of the matter. Biden, who is almost certain…
