(Reuters) -Linda Yaccarino began her role as Twitter’s new CEO on Monday, about a month after Elon Musk named her as the new chief executive officer. The former advertising chief at NBCUniversal, is taking over Twitter as the company tries to reverse a plunge in ad revenue. Yaccarino has been a key figure in modernizing…
By Michael S. Derby NEW YORK (Reuters) – Supply chain pressures cooled again in May, New York Fed data showed, in a development that further eased what had been one of the key factors that had helped drive surging inflation pressures around the work. The New York Fed said on Tuesday that its latest Global…
By David Lawder WASHINGTON (Reuters) -The World Bank on Tuesday raised its 2023 global growth outlook as the U.S., China and other major economies have proven more resilient than forecast, but said higher interest rates and tighter credit will take a bigger toll on next year’s results. Real global GDP is set to climb 2.1%…
(Reuters) – Ford Motor Co on Tuesday named Whirlpool Corp’s Liz Door its chief supply chain officer, at a time when the automaker navigates through parts shortages and rising costs. The appointment, effective June 12, comes as the company predicts a difficult 2023, blaming chip shortages and other supply chain issues and production instabilities. The…
NEW YORK (Reuters) – Shares of retirement services provider Corebridge Financial fell more than 6% on Tuesday as parent American International Group Inc looks to sell down its controlling stake. Insurance giant AIG will sell 65 million shares, or about 10% of its total Corebridge holding, which is valued at nearly $1.1 billion. The share…
(Reuters) – General Electric Co is offering 25 million of common stock, or an over $2 billion stake, in GE HealthCare Technologies Inc, according to a regulatory filing on Monday. Under the debt-for-equity exchange agreement, GE is expected to exchange 28.75 million GE HealthCare shares for debt held by affiliates of Morgan Stanley, GE HealthCare…
By Harry Robertson LONDON (Reuters) – New trades in the enormous U.S. dollar interest rate swap market have almost entirely stopped using the London Interbank Offered Rate (LIBOR) as the deadline for its demise approaches. A record 91% of new dollar swaps executed in May used the Secured Overnight Financing Rate (SOFR), the newly accepted…
(Reuters) – Auto parts supplier BorgWarner on Tuesday forecast its electrified-vehicle business would generate about half of its total expected sales of over $10 billion by 2027, as the company looks to tap strong demand for cleaner modes of transport. It also expects the eProducts segment, which makes parts for EVs and hybrids, to bring…
(Reuters) – Jif peanut butter maker J M Smucker Co forecast a smaller-than-expected decline in annual revenue on Tuesday, betting on higher prices and steady demand for its ready-to-eat meals and snacks. Packaged food product makers have been bumping up prices to combat elevated raw materials, supply chain, labor and freight costs. Yet, they have…
By Hilary Russ NEW YORK (Reuters) – Subway reached an agreement with a master franchisee to open nearly 4,000 new sandwich shops across mainland China over the next 20 years, it said on Tuesday. International expansion is a key growth strategy for the privately owned U.S.-based chain, which is in the midst of a turnaround…
