Category: Business
-
Renault hopes to escape from its ‘negative core value’ curse
By Gilles Guillaume PARIS (Reuters) – Renault hopes it can lift the curse of its negative value next year thanks to the creation of two specialised businesses, Ampere and Horse, and its revamped alliance with Nissan and Mitsubishi, several top executives said. Although the French automaker sold more than two million vehicles last year and…
-
Apple to launch new iPads, M3 MacBook Air to fight weak sales – Bloomberg News
(Reuters) – Apple is planning to release several new models, including a faster MacBook Air and two updated iPads, early next year to help combat a decline in sales of the devices, Bloomberg News reported on Wednesday, citing people familiar with the matter. The new iPad Air will have two sizes for the first time,…
-
Weak US third-quarter unit labor costs point to slowing inflation
By Lucia Mutikani WASHINGTON (Reuters) – U.S. unit labor costs were much weaker than initially thought in the third quarter amid robust worker productivity, providing a boost to the Federal Reserve’s fight against inflation. The inflation outlook was further brightened by other data on Wednesday showing a moderation in wage growth in November. The reports…
-
BAT writes down US cigarette brands, tobacco stocks fall
By Emma Rumney LONDON (Reuters) – British American Tobacco said it would take a hit of around $31.5 billion as it writes down the value of some U.S. cigarette brands, acknowledging on Wednesday that its traditional market has no long-term future. BAT shares fell as much as 10.2% in London to their lowest since September…
-
Explainer-How would Canada’s proposed oil and gas emissions cap work?
By Nia Williams (Reuters) – Canada plans to unveil a framework for its long-awaited oil and gas emissions cap at the United Nations COP28 climate summit in Dubai, the only major only-producing country developing such a policy. Here are details of what it is expected to entail, and what it will mean for the fossil…
-
Alaska Air to buy peer Hawaiian for $1.9 billion
By Rajesh Kumar Singh, Akanksha Khushi and Anirban Sen (Reuters) -Alaska Air Group Inc said on Sunday it would acquire Hawaiian Holdings Inc for $1.9 billion, including debt, placing a bet on a troubled airline with lucrative routes as U.S. antitrust regulators fight consolidation in the sector. Alaska Air said it would pay $18 per…
-
Crypto stocks surge as bitcoin hits fresh 2023 high
(Reuters) -Cryptocurrency-related stocks listed in the U.S. surged on Monday, looking to extend their strong November gains, as bitcoin topped $42,000 to hit a fresh high for the year. Shares of companies whose fortunes are tied to the cryptocurrency have rallied in recent weeks, spurred by optimism about potential interest rate cuts in the U.S.…
-
Berkshire declines to pursue its Pilot claims at January trial
By Tom Hals WILMINGTON, Delaware (Reuters) – Warren Buffett’s Berkshire Hathaway declined a judge’s offer for a January trial to resolve its claims that billionaire Jimmy Haslam tried to improperly inflate his stake in a truck stop chain, according to a Monday court filing. Berkshire decided to forgo its request for a speedy trial “given…
-
Roche joins race for obesity drugs with $2.7 billion Carmot deal
By Ludwig Burger (Reuters) -Roche agreed to take over unlisted obesity drug developer Carmot Therapeutics for $2.7 billion upfront, joining a list of contestants seeking to challenge the dominant makers of weight-loss drugs Novo Nordisk and Eli Lilly. The U.S. takeover target’s most promising drug candidate, a once-a-week injection called CT-388, is a dual GLP-1/GIP…
-
More US home buyers willing to purchase despite high rates -BofA study
By Nupur Anand NEW YORK (Reuters) -U.S. home buyers are becoming more willing to purchase properties even as interest rates stay high, according to a study by Bank of America published on Monday. About 62% of respondents said they would wait for borrowing costs to fall before buying a house, according to 1,000 people polled…