(Reuters) -Tyson Foods has suspended its chief financial officer, John R. Tyson, after he was arrested on charges of alleged driving while intoxicated, the company said on Thursday. The U.S. meat packer said that Tyson was suspended from his duties immediately, and that Curt Calaway, a senior finance executive at the company, will take over […]
JPMorgan, Greek fintech, claim success in London court
LONDON (Reuters) – Wall Street bank JP Morgan and Greek fintech boss Haris Karonis both claimed success on Thursday in a London court battle over how to value a joint business, paving the way for its potential sale. Karonis’s WEREALIZE.COM (WRL), the majority owner of Athens-based Viva Wallet, has accused JP Morgan of trying to […]
GameStop tumbles for second day as meme-stock rally fades
(Reuters) – Shares of GameStop tumbled for a second consecutive session on Monday, extending deep losses after stock influencer Keith Gill’s return to YouTube last week failed to spark fresh investor enthusiasm for the struggling shopping mall retailer. Gill, known on YouTube as “Roaring Kitty,” held his first livestream in three years on Friday, the […]
Chipmaker Intel to halt $25-billion Israel plant, news website says
JERUSALEM (Reuters) – Intel Corp is halting plans for a $25-billion factory in Israel, Israeli financial news website Calcalist said on Monday, in a report that the chipmaker did not confirm or deny. The U.S. company, asked about the report, cited the need to adapt big projects to changing timelines, without directly referring to the […]
Nvidia sparks chatter over possible Dow inclusion after stock split
(Reuters) – Nvidia’s 10-for-1 stock split aimed at luring retail investors has taken effect, sparking speculation over chances of the artificial intelligence bellwether’s inclusion in the blue-chip Dow index. The split, aimed at lowering per-share value to make it more affordable for employees and investors, increases the company’s outstanding shares without changing the stock’s valuation. […]
Nippon Steel executive to visit U.S. to meet stakeholders of U.S. Steel deal
By Urvi Dugar, Akanksha Khushi and Yuka Obayashi , TOKYO (Reuters) -Japan’s Nippon Steel said on Saturday its vice chairman, Takahiro Mori, a key negotiator for its planned purchase of U.S. Steel, will travel to the United States next week to meet stakeholders as part of continued efforts to complete the deal. A spokesperson for […]
Wall Street bets on stellar quarterly results from Nvidia
By Arsheeya Bajwa (Reuters) – Wall Street is betting on a blowout quarterly report from Nvidia on Wednesday, with its stock near record highs as investors look for evidence that the AI chipmaker can maintain its explosive growth and stay ahead of rivals. The results will be the latest test for Wall Street’s picks-and-shovels trade […]
KKR remedies on Telecom Italia deal expected next week, source says
By Elvira Pollina ROME (Reuters) – U.S. investment firm KKR will likely offer remedies next week in an attempt to secure EU antitrust approval to buy Telecom Italia’s (TIM) fixed-line access network, a person familiar with the matter said on Wednesday. KKR wants to acquire TIM’s domestic network for up to 22 billion euros ($23.87 […]
China’s Zeekr prices US IPO at top of range to raise $441 million
By Echo Wang and Scott Murdoch NEW YORK (Reuters) -Chinese electric vehicle maker Zeekr Intelligent Technology priced its U.S. initial public offering (IPO) at the top of its indicated range, raising $441 million, it said on Friday. Zeekr, which is the premium brand of Chinese automaker Geely, upsized its IPO to sell 21 million American […]
US Post Office chief defends restructuring plan as net loss narrows
By David Shepardson WASHINGTON (Reuters) -U.S. Postmaster General Louis DeJoy defended the Postal Service’s 10-year restructuring plan in the face of harsh criticism from lawmakers as the agency reported a second quarter net loss of $1.5 billion. The loss for the three months ending March 31 was down from a net loss of $2.5 billion […]