Category: Business
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Meta appeals against EU gatekeeper status for Messenger, Marketplace
By Supantha Mukherjee and Foo Yun Chee STOCKHOLM/BRUSSELS (Reuters) – Meta on Wednesday appealed against “gatekeeper” designations for its Messenger and Marketplace platforms, the first Big Tech company to challenge new European Union rules setting out dos and don’ts for the online services. As part of its latest crackdown on Big Tech, the EU in…
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Exclusive-ValueAct takes stakes in Recruit and Expedia, says they are poised for strong growth
By Svea Herbst-Bayliss NEW YORK (Reuters) -ValueAct Capital Management has bought stakes in job-search site Indeed’s parent Recruit Holdings and in online travel services provider Expedia Group and believes both are poised for strong growth. The investment firm announced the new positions, without revealing the sizes, in a letter to clients on Wednesday which was…
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Charter to pay $25 million for stock buyback controls violations, SEC says
(This Nov. 14 story has been officially corrected after the SEC said that the stock buybacks did not comport with the board’s authorizations, not unauthorized by the board, in paragraphs 1 and 2) WASHINGTON (Reuters) – Charter Communications has agreed to pay $25 million to settle U.S. Securities and Exchange Commission (SEC) charges related to…
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Factbox-What you need to know about Ampere, Renault’s EV unit
PARIS (Reuters) -French car maker Renault is holding an investor day for its electric vehicle unit Ampere, which was carved out from Renault’s other operations on Nov. 1 and is set for a market listing next year. Having pioneered the market for first-generation electric vehicles with its long-time ally Nissan in the early 2010s, Renault…
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Airlines predict record Thanksgiving US holiday travel
By David Shepardson WASHINGTON (Reuters) -Major U.S. airlines and the Transportation Security Administration (TSA) said Monday they expect record air travel over the Thanksgiving holiday air travel period. Airlines for America, an industry group representing American Airlines United Airlines, Delta Air Lines and others, forecasts 29.9 million passengers between Nov. 17-27, an all-time high and…
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S&P 500 takes a pause ahead of U.S inflation data
By Sinéad Carew and Sruthi Shankar (Reuters) – The S&P 500 closed Monday’s session slightly lower as investors held their breath before a crucial inflation reading that could provide clues as to how long the U.S. Federal Reserve will keep interest rates elevated. After the indexes enjoyed a solid rally on Friday, the market turned…
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Protests force First Quantum to reduce copper ore processing at Panama mine
By Sourasis Bose and Valentine Hilaire (Reuters) -First Quantum Minerals has reduced ore processing at its Cobre Panama mine as protests against the project block port access, the Canadian miner said on Monday, the first sign that output at one of the world’s biggest copper mines could at be risk. The disruption was caused by…
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Ferrari to hire 250 in first half of next year, launch employee share plan
MILAN (Reuters) – Luxury sportscar maker Ferrari said on Monday it would hire 250 people in the first six months of next year and announced progammes for workers including a new share ownership plan and an enhanced bonus scheme. The announcement comes after workers’ strikes halted operations at several North American plants of Stellantis, GM…
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Fidelity rolls out suite of new ETFs, slashes fees
By Suzanne McGee (Reuters) – Fidelity launched a group of six new exchange-traded funds (ETFs) Monday and announced sharp reductions on management fees on nearly a third of its total ETF lineup, kicking off what analysts expect to be another strong week for ETF debuts. So far this year, asset managers have launched 419 ETFs,…
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Payments app Zelle begins refunds for imposter scams after Washington pressure
By Hannah Lang (Reuters) – Banks on the payment app Zelle have begun refunding victims of imposter scams to address consumer protection concerns raised by U.S. lawmakers and the federal consumer watchdog, in a major policy change. The 2,100 financial firms on Zelle, a peer-to-peer network owned by seven banks including JPMorgan Chase and Bank…