By Koh Gui Qing NEW YORK (Reuters) – As investors and financial experts pored over Hindenburg Research’s allegations against activist investor Carl Icahn’s holding company this week, one easy-to-verify claim stood out in the short seller’s report. Hindenburg said Icahn Enterprises LP (IEP) valued a meat packing company in which it owns a 90% stake…
By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom’s Chief Executive Hock Tan on Friday will try to convince EU antitrust enforcers that his proposed $61 billion bid for cloud computing firm VMware, which has triggered scrutiny on both sides of the Atlantic, is pro-competitive. Tan, flanked by his executives and lawyers, arrived early…
By Andrew Hay (Reuters) – Alabama authorities discriminated against Black residents of a rural county by denying access to adequate sewage systems and fining them for sanitation problems beyond their control, according to a first-of-its kind environmental justice agreement announced on Thursday by the Biden administration. Under the deal that followed an 18-month federal probe,…
By Dietrich Knauth (Reuters) – Bankrupt crypto exchange FTX received U.S. bankruptcy court permission on Thursday to sell its LedgerX business for $50 million, raising additional funds to repay creditors. At a hearing in Wilmington, Delaware, U.S. Bankruptcy Judge John Dorsey signed off on FTX’s sale of LedgerX, its non-bankrupt crypto derivatives trading platform, to…
DENVER (Reuters) – U.S. shale producer EOG Resources on Friday said it may delay some well completions in its Dorado natural gas play in Texas due to a low price environment. Natural gas prices tumbled around 50% at the start of this year. On Friday Henry Hub futures were trading around $2.13 per million British…
By Elvira Pollina and Giuseppe Fonte ROME (Reuters) -Italy’s Treasury is ready to back a joint purchase proposal for Telecom Italia’s (TIM) grid by KKR and state lender CDP in a bid to end a stalemate over the sale process of the phone group’s prized asset, sources told Reuters. TIM directors on Thursday set a…
By Blake Brittain (Reuters) – Sonos Inc and Alphabet’s Google LLC will face off in a San Francisco federal trial on Monday over claims that Google copied Sonos’ patented smart-speaker technology in wireless audio devices like Google Home and Chromecast Audio. The case is part of a sprawling intellectual property dispute between the former business…
BELGRADE (Reuters) – The Serbian government said it had introduced a set of measures on Thursday to prevent potential violence in schools a day after a 13-year-old boy shot and killed eight students and a guard in a Belgrade elementary school. The shooter took guns belonging to his father and went to school where he…
By Tiyashi Datta (Reuters) -AMC Entertainment Holdings Inc on Friday provided an upbeat assessment of box office recovery this year, after beating quarterly revenue estimates as films including the latest installment of “Ant-Man” drew moviegoers to theaters. Movie theaters have started to see a revival in footfalls after an uneven recovery from pandemic lows, thanks…
By Sourasis Bose (Reuters) -PBF Energy Inc boosted its share buyback authorization to $1 billion after soaring margins helped the U.S. refiner to beat first-quarter profit estimates. The company expects to continue and potentially increase shareholder returns. Shares rose 2% in the morning trade. PBF’s gross refining margin, excluding special items, soared 65% to $1.41…
