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Jersey Mike’s names Betsy Mercado as first chief people officer
Manasquan, NJ – Jersey Mike’s Subs has appointed Betsy Mercado as the company’s first-ever Chief People Officer, a newly created role aimed at guiding the brand’s people strategy as it accelerates nationwide…
Singapore hosts third SPAC listing; Novo Tellus-backed firm makes debut
By Anshuman Daga SINGAPORE – Southeast Asian industrial technology buyout fund Novo Tellus Capital Partners listed its special purpose acquisition company (SPAC) in Singapore on Thursday, marking the third such IPO this…
St James’s Place assets surpass $200 billion as inflows keep coming
By Emma-Victoria Farr LONDON – Wealth manager St. James’s Place said on Thursday its funds under management hit a record 153.99 billion pounds ($206.76 billion) in the fourth quarter, as it brought…
China says U.S. should correct wrongdoing in trade practices against China
BEIJING – The United States should take immediate action to correct wrongdoing in trade practices against China, China’s commerce ministry said on Thursday, after the World Trade Organization ruling that let China…
Domestic investors prop up Indian stocks as foreigners flee
By Patturaja Murugaboopathy – Foreign investors have been cutting their holdings of Indian equities over the past few months, but domestic mutual funds, banks and insurance companies have helped put a floor…
Exports booming, Taiwan’s China Airlines orders 4 more Boeing freighters
TAIPEI – Taiwan’s China Airlines Ltd said on Thursday its board had approved the purchase of four more Boeing Co 777F freighters, adding to an earlier order for six of the same…
Facebook’s cryptocurrency venture to wind down and sell tech assets – WSJ
– Meta Platforms Inc’s digital currency venture Diem Association is winding down and selling its technology to California-based Silvergate Capital Corp for about $200 million, the Wall Street Journal reported on Wednesday,…
Electrolux books $85 million tariffs case related charge in Q4
STOCKHOLM – Electrolux will charge $85 million to earnings in the fourth quarter after an appeals panel upheld a U.S. Department of Commerce decision regarding tariffs on washing machines imported into the…
Tesla forecasts 2022 growth above 50%, despite supply chain challenges
By Hyunjoo Jin and Nivedita Balu SAN FRANCISCO – Tesla Inc on Wednesday forecast vehicle deliveries would comfortably grow by more than 50% year-over-year in 2022 despite persistent supply chain issues that…
FAA chief to testify at U.S. House hearing on 5G impact on aviation safety
By David Shepardson WASHINGTON – The head of the Federal Aviation Administration (FAA) is set to testify before a Feb. 3 U.S. House of Representatives hearing on new C-Band 5G deployment and…
Casual denim trend, higher prices fuel Levi’s upbeat forecast
-Levi Strauss & Co forecast annual sales and profit above analysts’ estimates after topping quarterly results on Wednesday, bolstered by higher prices and strong demand for its jeans and jackets, sending its…
Ackman’s Pershing Square takes new position in Netflix
By Svea Herbst-Bayliss BOSTON -Billionaire investor William Ackman has built a new stake in streaming service Netflix Inc worth more than $1 billion since its stock price tumbled starting last Thursday. Ackman…
Amazon workers eligible to hold union election at New York warehouse -NLRB
By Julia Love -A group of Amazon.com workers has met the requirements to hold a union election at a warehouse in Staten Island, New York, a spokesperson for the U.S. National Labor…
Intel posts record quarterly revenue, sees supply strains through year
By Jane Lanhee Lee and Chavi Mehta -Chipmaker Intel Corp posted record fourth-quarter revenue, but forecast first-quarter earnings short of Wall Street expectations, as the world’s largest chipmaker faces challenges linked to…
Bank of America raises base pay for top bankers – source
– Bank of America Corp is raising the base salary for senior bankers, according to a person familiar with the matter, its latest attempt to retain top talent in one of the…
Fed says bond maturity runoff will be main tool for shrinking balance sheet
By Jonnelle Marte – The Federal Reserve said on Wednesday it will rely primarily on letting bond holdings run off the balance sheet as they mature as it grapples with persistent inflation,…
Instant View: FOMC reaffirms March for taper end, and, maybe, rate hike
NEW YORK – The Federal Reserve on Wednesday signaled it is likely to raise U.S. interest rates in March and reaffirmed plans to end its bond purchases that month before launching a…
Drugmaker Galapagos names former J&J exec Paul Stoffels as CEO
– Belgian drugmaker Galapagos NV on Wednesday named former Johnson & Johnson senior executive Paul Stoffels as its chief executive officer, effective April 1. Stoffels was the chief scientific officer of Johnson…
Ethnicity next step in UK financial sector diversity, says watchdog advisor
By Huw Jones LONDON – Britain’s financial watchdog will publish requirements within a year for boosting ethnic diversity among employees in finance by using targets and not quotas, one of its advisers…
Rate traders see risk of more than four U.S. Fed hikes this year after hawkish Powell
– Hawkish comments from Federal Reserve Chair Jerome Powell on Wednesday have led short-term interest rate traders to begin pricing for the possibility that the U.S. central bank could raise rates more…
Chevron, Marathon raise quarterly dividend as energy prices rally
-Chevron Corp and Marathon Oil Corp on Wednesday became the latest U.S. oil and gas companies to raise quarterly dividends as a rebound in fuel demand drives energy prices higher. U.S oil…
Chevron shares touch record high ahead of Q4 results
By Sabrina Valle HOUSTON – Shares of U.S. oil major Chevron Corp on Wednesday touched an all-time high intraday amid a strong stock market rally and ahead of the release of Chevron’s…
Fidelity brokerage’s ‘rubber-stamping’ allowed meme stock abuses, regulator says
By Jonathan Stempel -Massachusetts’ securities regulator on Wednesday charged Fidelity Brokerage Services with improperly “rubber-stamping” applications to trade options, saying the “blatantly unethical” practice allowed some ineligible retail investors to trade in…
General Motors plans 8,000 new tech hires to power EV goals
– General Motors Co said on Wednesday it would hire more than 8,000 new technical staff this year, as the U.S. automaker accelerates its development of electric vehicles and software-driven services. The…
Ford, Jiangling form China joint venture to sell SUVs, vans
By Paul Lienert – Ford Motor Co and longtime Chinese partner Jiangling Motors Corp have formed a joint venture aimed at strengthening Ford’s sales efforts and reach in China, the companies said…
Inbursa ‘waiting to see’ before expressing interest in Citibanamex bid
MEXICO CITY – Mexican bank Inbursa said it would wait to know more about the sale of Citigroup’s Mexico retail operations, known as Citibanamex, before expressing interest in the unit, an Inbursa…
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