(Reuters) -An investment consortium, comprising of Elliott Investment Management, Patient Square Capital and Veritas Capital, has agreed to take Syneos Health Inc private for $4.46 billion, the contract research firm said on Wednesday. Shares of Syneos rose 8.7% to $41.8 in early trade. The consortium will pay about $43 per share in cash, which represents…
By Howard Schneider WASHINGTON (Reuters) – It wasn’t the March 10 collapse of Silicon Valley Bank that prompted Carissa Rodeheaver, head of a community bank tucked in the mountains of western Maryland, to rethink strategy. That process started last year when Federal Reserve interest rate hikes and a less certain economic environment caused Rodeheaver, the…
NEW YORK (Reuters) – U.S. consumer prices increased in April on higher gasoline costs and rents, while underlying inflation remained strong as used motor vehicle prices rebounded, potentially ensuring that the Federal Reserve keeps interest rates elevated for a while. The Consumer Price Index (CPI) rose 0.4% last month after gaining 0.1% in March, the…
By Victoria Waldersee and Jan Schwartz BERLIN (Reuters) -Volkswagen defended its record in China and its decision to jointly own a plant in the Xinjiang region after activists and investors lashed out at the carmaker at a volatile annual general shareholder meeting on Wednesday. About ten activists, including one topless woman with ‘Dirty Money’ painted…
By Ankit Kumar and Mrinalika Roy (Reuters) -Trulieve Cannabis Corp posted a bigger-than-expected fall in first-quarter revenue on Wednesday, as demand for pot and related products weakened amid rising recession fears and increased competition. Shares of Trulieve fell nearly 4% to C$6.88 in morning trade, having fallen almost 33% so far this year. Recent banking…
(Reuters) -Airbnb’s shares slid 12% on Wednesday after the top vacation rental firm issued a gloomy second-quarter forecast and signaled that the high cost of travel may be finally catching up to budget-conscious U.S. consumers. Household savings and pent-up demand have largely insulated the U.S. travel industry from inflationary pressures that have roiled other sectors….
(Reuters) -An April inflation reading on Wednesday that was more benign than expected disrupted the modest momentum that had been building for an 11th straight U.S. interest rate hike in June. Futures tied to the Federal Reserve’s policy rate rose after the Labor Department report, and now reflect less than a 10% chance that the…
(Reuters) -Vitamin Shoppe owner Franchise Group Inc would be taken private by a group led by CEO Brian Kahn in a deal valued at about $2.6 billion, the company said on Wednesday. Shares of Franchise, which also owns retailer Buddy’s Home Furnishings and discount furniture store American Freight, climbed about 3% premarket. The consortium, which…
By Elida Moreno PANAMA CITY (Reuters) -The number of people arriving in the treacherous Darien Gap linking Panama with Colombia soared in April and early May, Panamanian government data shows, dealing a blow to U.S. efforts to curb undocumented migration to the north. According to figures from Panama’s Security Ministry seen by Reuters on Tuesday,…
(Reuters) – Several U.S. companies, including PepsiCo, Qualcomm and Cummins, struck a cautious note on their growth prospects in China, blaming what they said was a slower-than-expected recovery after the country lifted COVID curbs in December. China’s economy grew faster than expected in the first quarter but remarks from American companies with substantial operations in…
