By Elvira Pollina MILAN (Reuters) -Telecom Italia (TIM) is moving closer to appointing a new chief executive, with General Manager Pietro Labriola tipped as frontrunner, four sources familiar with the matter said on Tuesday. TIM, which faces a 10.8 billion euro ($12.24 billion) takeover approach from U.S. private equity investor KKR, has been without a…
SAN FRANCISCO (Reuters) – The U.S. National Labor Relations Board said on Tuesday that it will send unionization ballots to workers at an Amazon warehouse in Bessemer, Alabama on February 4. Ballots in the election, which is being re-run after the NLRB found Amazon interfered in the vote, will be counted on March 28, according…
(Reuters) – Companies across the United States are revising their back-to-office plans, driven by rising uncertainty around the Omicron COVID-19 variant that has pushed up infections to record levels in the world’s biggest economy. U.S. financial firms were among the first to encourage employees to return to offices, but rising cases have forced most of…
By Dawn Chmielewski (Reuters) – Blackstone-backed Candle Media is buying Faraway Road Productions, the Israeli studio behind popular Netflix series “Fauda” and the upcoming feature film “Siege of Bethlehem,” continuing a media industry buying binge, Blackstone said on Tuesday. Terms were not publicly disclosed. One person familiar with the matter said the acquisition was valued…
BERLIN (Reuters) – A German court will rule next week in a case brought by Genting Group against a German regional government after a row over funding for cruise shipbuilder MV Werften, which filed for insolvency on Monday. Genting, led by Malaysian tycoon Tan Sri Lim Kok Thay, bought MV Werften in 2016. The pandemic…
By Andrea Shalal WASHINGTON (Reuters) -The World Bank on Tuesday cut its forecasts for economic growth in the United States, the Euro area and China and warned that high debt levels, rising income inequality and new coronavirus variants threatened the recovery in developing economies. It said global growth is expected to decelerate “markedly” to 4.1%…
(Reuters) – The Federal Reserve may need to raise interest rates at least three times this year, starting with a rate increase at the March meeting, to respond to a tight labor market and inflation that is persistently high and more broad based, Cleveland Fed President Loretta Mester said on Tuesday. “If the economy in…
(Reuters) – CVS Health Corp on Tuesday raised its adjusted earnings forecast for 2021, citing strong retail sales helped by higher demand for COVID-19 vaccines as well as over-the-counter testing in November and December. The company, best known for its chain of drugstores, raised its forecast for 2021 adjusted profit per share to a range…
FRANKFURT (Reuters) – Germany’s BioNTech said on Tuesday it would likely generate up to 17 billion euros ($19 billion) in 2022 revenue from the COVID-19 vaccine it co-developed with partner Pfizer. In presentation slides for J.P. Morgan’s annual healthcare conference, which is being held virtually this year, BioNTech said it expects 13 billion to 17…
SEOUL (Reuters) – South Korea’s telecommunications regulator said on Tuesday Apple Inc had submitted plans to allow third-party payment systems on its App Store to comply with a law banning major app store operators from forcing software developers to use their payments systems. The Korea Communications Commission (KCC) had requested Apple and Alphabet’s Google to…
