Business News

US senators ask Starbucks for information about union dealings By Reuters

© Reuters. A man wearing a mask walks in front of a shuttered Starbucks as the spread of the coronavirus disease (COVID-19) outbreak continues in the Manhattan borough of New York City, US, April 27, 2020. REUTERS/Lucas Jackson By Hilary Russ NEW YORK (Reuters) – Four US Senators have asked Starbucks to disclose how much …

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Vale seeks to sell metals stake as battery demand soars

Brazilian mining company Vale is in discussions to sell a $2.5bn minority stake in its metals business, as it seeks to boost its copper and nickel output to meet growing demand for the energy transition. Trading houses in Japan, sovereign wealth funds in the Middle East and car companies are examining the asset, according to …

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Musk’s U-turn on Twitter made investors like billionaire Carl Icahn very happy

Elon Musk’s decision to revive his $44 billion buyout of Twitter Inc. It is shockingly good news for investors including billionaire Carl Icahn who continued to bet on the outcome of the deal through months of uncertainty. After Musk and Twitter agreed to proceed with the deal at the original offer price at $54.20 a …

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OPEC+ heads for deep supply cuts, clash with US By Reuters

© Reuters. FILE PHOTO: Pump jacks operating in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. REUTERS/Nick Oxford By Ahmad Ghaddar, Alex Lawler and Rowena Edwards VIENNA/LONDON (Reuters) -OPEC+ looks set for deep cuts to its oil output targets when it meets on Wednesday, curbing supply in …

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Tesco predicts full-year profits at lower end of range

Tesco will generate full-year profits towards the lower end of its forecast range as cost inflation bites while the outlook remains uncertain, the UK’s leading supermarket has said. The retailer on Wednesday nudged its range for adjusted operating profit down to between £2.4bn and £2.5bn, down from an earlier forecast of £2.4bn-£2.6bn. However, it said …

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Fan loses wife, two teenage daughters in Indonesia soccer stampede By Reuters

3/3 © Reuters. A picture of Andi Hariyanto and his late wife Gebi Asta Putri Purwoko, who died in a recent riot and stampede following a soccer match between Arema FC and Persebaya Surabaya at Kanjuruhan stadium, hangs on a wall at his house in Malang, East Java provinc 2/3 By Yuddy Cahya Budiman MALANG, …

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Philippines’ 4-year high inflation boosts chances of more rate hikes By Reuters

© Reuters. FILE PHOTO: Vendors work at a public market in Quezon City, Philippines, August 9, 2022. REUTERS/Eloisa Lopez By Neil Jerome Morales MANILA (Reuters) – Philippine annual inflation quickened to 6.9% in September, its fastest pace in four years, firming up expectations the central bank will hike rates further before the year ends. The …

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$3 billion crypto bank Anchorage pushes into Asia

The digital asset platform Anchorage Digital announced today that it has expanded into Asia with five institutional partners, including the Thailand-based crypto exchange Bitkub and the Singapore-based blockchain investment firm FBG Capital. Anchorage is valued at over $3 billion with backers including Andreessen Horowitz and GIC, Singapore’s sovereign wealth fund. Its push into Asia displays …

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Marc Andreessen compares California to Rome circa 250 AD

Billionaire venture capitalist Marc Andreessen said he decided to “double down on California” and stay in the state, even as he likened it to “living in the ruins of a once great civilization.” In a 34-tweet thread on Tuesday Andreessen, who co-founded the venture capital firm Andreessen Horowitz, said that he and his family considered …

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