Category: Business

US hospital network Steward files for bankruptcy, aims for new loan
May 6, 2024 No Responses

US hospital network Steward files for bankruptcy, aims for new loan

By Dietrich Knauth NEW YORK (Reuters) -Steward Health Care, which operates 31 hospitals in eight U.S. states, filed for Chapter 11 bankruptcy in Texas on Monday, aiming to secure a new loan from its landlord Medical Properties Trust. Steward, the...
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Global shares rally on rate cut hopes, yen weakens
May 6, 2024 No Responses

Global shares rally on rate cut hopes, yen weakens

By Herbert Lash and Nell Mackenzie NEW YORK/LONDON (Reuters) -A gauge of global stock markets rallied on Monday on optimism that major central banks will cut interest rates this year, while the yen weakened against the dollar after a surge...
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Coty posts Q3 revenue beat, aims for upper end of 2024 targets on strong demand
May 6, 2024 No Responses

Coty posts Q3 revenue beat, aims for upper end of 2024 targets on strong demand

By Ananya Mariam Rajesh (Reuters) -Beauty company Coty beat Wall Street expectations for third-quarter revenue on Monday and said it expects to achieve the high end of its annual targets, riding on steady global demand for its luxury and mass-market...
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Goldman Sachs criminal case over 1MDB formally ends
May 6, 2024 No Responses

Goldman Sachs criminal case over 1MDB formally ends

NEW YORK (Reuters) – A U.S. judge on Monday formally ended the U.S. government’s criminal case against Goldman Sachs related to the Wall Street bank’s work for the Malaysian fund 1MDB after it met its obligations and paid $2.9 billion...
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UPS CFO Brian Newman to step down on June 1, company says
May 6, 2024 No Responses

UPS CFO Brian Newman to step down on June 1, company says

(Reuters) – United Parcel Service said on Monday that its CFO and Executive Vice President Brian Newman would leave the company on June 1. UPS will evaluate internal and external candidates to replace Newman, the firm said. “My near-term priority.....
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Shah Capital urges Novavax shareholders to vote against three directors
May 6, 2024 No Responses

Shah Capital urges Novavax shareholders to vote against three directors

By Bhanvi Satija (Reuters) -Hedge fund Shah Capital on Monday urged Novavax shareholders to vote against the re-election of three directors and opposed proposals related to executive compensation, weeks after pushing for a board shakeup at the COVID-19 vaccine...
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Spanish bank Sabadell rejects $12.9 billion BBVA merger proposal
May 6, 2024 No Responses

Spanish bank Sabadell rejects $12.9 billion BBVA merger proposal

By Jesús Aguado MADRID (Reuters) -Sabadell’s board rejected a merger proposal by larger rival BBVA for a 12 billion euro ($12.93 billion) all-share merger, the Spanish lender said on Monday. The country’s fourth-largest lender by market value said...
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US financial regulators restart work on long-delayed compensation rules
May 6, 2024 No Responses

US financial regulators restart work on long-delayed compensation rules

By Pete Schroeder WASHINGTON (Reuters) – A trio of U.S. financial regulators have resumed work on a long-delayed rule-writing project to make executive compensation plans at financial firms more sensitive to risk. The Federal Deposit Insurance Corporatio...
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US utility Allete goes private in $6.2 billion deal
May 6, 2024 No Responses

US utility Allete goes private in $6.2 billion deal

By Seher Dareen and David French (Reuters) -U.S. utility Allete said on Monday that it had agreed a deal with investment firms Global Infrastructure Partners and CPP Investments to be taken private at a $6.2 billion valuation, inclusive of debt....
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US financial markets watchdog to collect data on bilateral repo
May 6, 2024 No Responses

US financial markets watchdog to collect data on bilateral repo

By Davide Barbuscia NEW YORK (Reuters) – The Office of Financial Research (OFR), a U.S. Treasury Department-based research powerhouse, said on Monday it has adopted a final rule that will allow it to collect data on certain transactions in the...
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