(Reuters) -Shake Shack Inc on Tuesday added an independent director in agreement with Engaged Capital LLC, avoiding a potential proxy battle between the activist investor and the restaurant chain. This follows a Wall Street Journal report that said Engaged Capital, which according to Refinitiv data has a 4.36% stake, was planning to launch a proxy…
By Alexandra Valencia QUITO (Reuters) -Ecuador’s National Assembly on Tuesday began an impeachment hearing against President Guillermo Lasso, who could be removed from his post, though the process increases the likelihood he will dissolve the legislature to avoid a final vote. Ninety-two votes from the 137-member assembly are needed to remove Lasso, who opposition politicians…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar edged higher on Tuesday in choppy trading, with no clear direction, as investors kept an eye on debt ceiling talks to avert a possible default that could reverberate across asset markets and damage confidence in the world’s largest economy. The dollar index, a measure of the…
By Doyinsola Oladipo NEW YORK (Reuters) -The State of Texas and Marriott International Inc on Tuesday entered a voluntary agreement to prominently display all “resort fees” and to increase price transparency in its advertisements and booking process. Texas Attorney General Ken Paxton alleges that hotel companies are engaging in fraudulent and anti-competitive practices by misleading…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed lower on Tuesday and benchmark Treasury yields extended their rise as mixed economic data, weak corporate results and ongoing debt ceiling negotiations in Washington dampened investor risk appetite. While all three major U.S. stock indexes ended down, the tech-heavy Nasdaq’s losses were held in check…
THE HAGUE (Reuters) – Ukraine and Russia will face off before the United Nations’ top court on June 6, when judges will hear Ukraine’s claim that Moscow violated a U.N. treaty by supporting pro-Russian separatists who were identified by a Dutch court as being responsible for the 2014 downing of flight MH17. In November last…
(This May 15 story has been corrected to say ‘million,’ not ‘billion,’ in paragraph 8) By Carolina Mandl SAO PAULO (Reuters) – Bridgewater Associates, one of the world’s largest hedge funds, sold U.S. bank stocks in the first quarter as the collapse of regional lenders rattled investors, according to regulatory filings. The firm, founded by…
By Leah Douglas WASHINGTON (Reuters) -Rural electric cooperatives, utilities, and other energy providers will soon be able to apply for nearly $11 billion in grants and loans for clean energy projects, funded by the $430 billion Inflation Reduction Act signed into law last August, the Biden administration said on Tuesday. Expanding clean energy to rural…
By Marcela Ayres and Bernardo Caram BRASILIA (Reuters) – Brazil’s Finance Ministry is preparing a new set of initiatives to increase tax revenue, including a review of deductions and exemptions for income tax on individuals, according to three sources familiar with the matter. The potential measures aim to shore up Brazil’s fiscal stability as leftist…
By Blake Brittain (Reuters) -Yum Brands Inc’ Taco Bell Corp on Tuesday asked the U.S. Trademark Office to cancel two smaller rivals’ “Taco Tuesday” trademarks in what the largest Mexican fast-food chain in the U.S. called a bid to “liberate the phrase for restaurants nationwide.” Taco Bell’s petitions said the trademarks, owned by Gregory’s Restaurant…
