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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…
WeWork to withhold interest payment on some notes
(Reuters) -WeWork Inc on Monday said it had decided to withhold interest payments of about $95 million related to some of its notes, as it tries to improve its capital structure. The…
Marketmind: New quarter, same old market dynamics
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Yet another surge in the dollar and U.S. bond yields on Monday…
Brazil’s BRF bullish on outlook for Christmas food sales
By Ana Mano SAO PAULO (Reuters) – BRF SA, one of Brazil’s biggest food companies, is bullish on its sales prospects ahead of the holiday season, a company executive said at a…
GM, Stellantis face $9.5 billion in US fuel economy fines -industry group letter
By David Shepardson WASHINGTON (Reuters) -The proposal by U.S. President Joe Biden’s administration to hike fuel economy standards through 2032 would cost General Motors $6.5 billion in fines and Chrysler parent Stellantis…
Boaz Weinstein raises bid for hedge fund Sculptor to $13/share – WSJ
(Reuters) – Boaz Weinstein’s coalition has sweetened its offer for hedge fund firm Sculptor Capital Management, the Wall Street Journal reported on Monday, citing people familiar with the matter. Over the weekend,…
S&P 500 ends near flat; utilities drop, focus on rate outlook
By Caroline Valetkevitch NEW YORK (Reuters) – The S&P 500 ended nearly flat on Monday with utilities falling sharply and investors weighing the likelihood the Federal Reserve will need to hold interest…
US Patent Office won’t review two Novo Nordisk patents for Wegovy, Ozempic
By Blake Brittain WASHINGTON (Reuters) – A U.S. Patent Office tribunal on Monday rejected challenges to two key patents owned by Novo Nordisk covering the active ingredient in its weight-loss and diabetes…
Global stock index dips while bond yields, dollar climb
By Sinéad Carew NEW YORK (Reuters) – MSCI’s global index of stocks kicked off fourth-quarter trading with a decline as U.S. Treasury yields and the dollar rose while investors worried that rates…
Kellanova, WK Kellogg shares slump on first day after spinoff
By Chibuike Oguh and Granth Vanaik NEW YORK (Reuters) – Shares of Kellanova fell more than 7% on Monday after the packaged food giant, previously known as Kellogg Company, completed the spinoff…
Cuban entrepreneurs use ‘aquaponics’ for efficient food production
By Alien Fernandez HAVANA (Reuters) – In Cuba, beset by economic crisis and shortages, even the most fundamental of endeavors like fishing or farming can get complicated quickly. That’s why two young…
Tesla scores Autopilot victory as judge rules owners must use arbitration
By Daniel Wiessner (Reuters) – In a victory for Tesla, a judge has ruled that a group of vehicle owners must pursue claims that the company misled about its Autopilot features in…
Microsoft CEO says tech giants battling for content to build AI
By Diane Bartz WASHINGTON (Reuters) -Microsoft chief executive Satya Nadella said Monday tech giants were competing for vast troves of content needed to train artificial intelligence, and complained Google was locking up…
Dollar climbs to near 150 vs yen after U.S. shutdown avoided
By Chuck Mikolajczak and Herbert Lash NEW YORK (Reuters) -The dollar index climbed on Monday, building on four straight weeks of gains, after the U.S. government avoided a shutdown and economic data…
Oil tumbles 2% to 3-week low on strong dollar, profit taking
By Scott DiSavino NEW YORK (Reuters) -Oil prices fell about 2% on Monday to a three-week low as a higher-priced Brent contract expired, the U.S. dollar strengthened and traders took profits, concerned…
Sam Bankman-Fried’s fraud trial: How will he defend himself?
By Luc Cohen NEW YORK (Reuters) – Sam Bankman-Fried will likely defend himself at his fraud trial, due to begin on Tuesday, by arguing he did not think the use by his…
Ally Financial to lay off nearly 5% of staff
(Reuters) – Ally Financial said on Monday job cuts in various divisions of the digital banking firm will affect nearly 5% of its workforce. Spooked by a turbulent economy, several banks have…
Elon Musk’s X hit with trademark lawsuit from marketing agency
By Blake Brittain (Reuters) – X Corp, formerly known as Twitter, was sued in federal court in Florida on Monday by a legal-marketing company that claims the social media giant’s new name…
Brazil September trade surplus hits record but misses expectations
BRASILIA (Reuters) – Brazil’s trade surplus reached a historic high for September, but fell slightly short of market estimates, according to government data released on Monday. The trade surplus for the month…
Exclusive-US warned China to expect updated export curbs in October-US official
By Karen Freifeld and Alexandra Alper NEW YORK/WASHINGTON (Reuters) – The Biden administration warned Beijing of its plans to update rules that curb shipments of AI chips and chipmaking tools to China…
Birkenstock aims for $10 billion valuation as it strides toward Wall Street
By Manya Saini and Niket Nishant (Reuters) -Birkenstock, the German premium footwear brand backed by private-equity firm L Catterton, has targeted a fully diluted valuation of about $10 billion in its highly…
Nigerian reform drive falters, threatening Africa’s biggest economy
By MacDonald Dzirutwe and Libby George LAGOS/LONDON (Reuters) -Nigerian President Bola Tinubu’s lightning-fast reform push after taking office in May sparked hope that his administration would be a business-friendly antidote to mounting…
Euro zone factory activity stuck in steep downturn in Sept – PMI
LONDON (Reuters) – Euro zone manufacturing activity remained mired in a deep and broad-based downturn last month, according to a survey which showed on Monday that demand kept shrinking at a pace…
Fed’s Powell: Economy still working through the impact of the pandemic
By Howard Schneider YORK, Pa. (Reuters) – The U.S. economy is still dealing with the aftermath of the COVID-19 pandemic, Federal Reserve chair Jerome Powell said during a meeting with community and…
US manufacturing sector nears recovery; construction spending solid
By Lucia Mutikani WASHINGTON (Reuters) – U.S. manufacturing took a step further towards recovery in September as production picked up and employment rebounded, according to a survey on Monday that also showed…
Former CNN Chief Jeff Zucker buys stake in Front Office Sports
(Reuters) – Jeff Zucker-led RedBird IMI has invested in Front Office Sports (FOS) and the former CNN president will join its board as co-chair, the media company focused on sports business said…
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