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WILMINGTON, Delaware (Reuters) – Former CBS shareholders reached a proposed $167.5 million settlement to resolve allegations that Shari Redstone, the daughter of late media magnate Sumner Redstone, pressured the company into an unfair merger that created ViacomCBS Inc, now known as Paramount Global, according to a court filing. The settlement covers holders of Paramount Global…
By Aishwarya Nair (Reuters) – Harley-Davidson Inc said on Thursday it will suspend vehicle assembly and shipments for a two-week period, excluding those from its electric-vehicle division LiveWire, due to a parts issue related to a supplier. The iconic motorbike maker said the decision was made after a third-party supplier, which was not named, informed…
By Carlos Barria PHOENIX (Reuters) – As the world registered the hottest month of all time in July, the southwestern U.S. city of Phoenix shattered its own 1974 heat-wave record, with temperatures above 110 degrees Fahrenheit (43°C) for 31 straight days. Heat-sensitive photography in late July reveals an even hotter Phoenix, where concrete on the…
(Reuters) – A look at the day ahead in U.S. and global markets from Amanda Cooper. Just when you thought it was safe to go back into the banking system, First Republic Bank has folded and U.S. regulators have agreed to sell its assets to JPMorgan. JPMorgan was one of a number of interested buyers…
ROME (Reuters) – Spanish charity Open Arms said it rescued 117 migrants on Saturday crowded onto a precarious wooden boat from Libya in the latest such perilous crossing over the Mediterranean sea. Last week’s shipwreck off Greece, killing at least 78 among hundreds packed onto a fishing boat, has shone a light once again on…
By Helen Reid LONDON (Reuters) – IKEA is training call centre workers to become interior design advisers as the Swedish furniture giant aims to offer more home improvement services and hand run-of-the-mill customer queries to an artificial intelligence bot called Billie. In April, IKEA expanded its interior design services to the UK and United States,…
By Shariq Khan and Laura Sanicola (Reuters) – Gasoline prices for U.S. motorists could jump by as much as 15 cents a gallon, with global fuel supplies tighter after Ukraine’s recent attacks on Russian refineries, Patrick De Haan, petroleum analyst at GasBuddy.com said on Monday. WHY IT’S IMPORTANT Rising gasoline prices could hinder the U.S….
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The euro surged to a three-week high against the U.S. dollar on Thursday after comments from European Central Bank President Christine Lagarde fuelled expectations of faster policy tightening, as she focused on the prospect of euro zone inflation overshooting. She also did not repeat previous comments that interest rates…
By David Shepardson WASHINGTON (Reuters) – The United States Postal Service (USPS) on Monday said it was seeking approval to hike the price of first-class mail stamps to 66 cents from 63 cents. USPS won approval to hike stamp prices to 63 cents from 60 cents in January. The new hike – which the USPS…
(Reuters) – Gaming platform Roblox Corp’s founder and chief executive officer David Baszucki’s compensation package for 2021 totaled $232.8 million, compared with just $6.8 million a year earlier, according to a regulatory filing on Monday. The bulk of the pay package comprises a long-term performance award for Baszucki, which was valued at $232.2 million. Baszucki,…
