Business

Enfamil maker Reckitt flies baby formula to U.S. from Singapore

Enfamil maker Reckitt on Wednesday afternoon flew 65 tonnes of baby formula to Chicago from its plant in Singapore, aiming to end a months-long shortage in the United States by late summer, a senior executive said. Similac maker Abbott Laboratories (ABT.N) in February recalled dozens of types of baby formula, taking the country’s biggest industry […]

Business

‘Everything in play’ for July rate hike

Atlanta Federal Reserve Bank President Raphael Bostic on Wednesday stoked rising expectations for more aggressive Fed action ahead, saying higher than expected June inflation might require policymakers to consider a 100 basis point increase at their meeting later this month. “Everything is in play,” Bostic told reporters during a tour of Tampa and St. Petersburg, […]

Business

SAS and pilot unions unable to reach deal, talks to resume Thursday

Scandinavian airline SAS (SAS.ST) and unions representing striking pilots were unable reach a collective bargaining agreement on Wednesday, with negotiations to resume on Thursday as a crippling strike will enter its 11th day. The 75-year old carrier was struggling even before the pandemic hit in 2020 due to high costs and growing competition from low-cost […]

Business

SAS and pilots unable to end strike, talks to resume on Thursday

Scandinavian airline SAS (SAS.ST) and pilot unions could not find a solution to end the 10-day strike on Wednesday with negotiations to resume on Thursday, Norwegian daily Verdens Gang reported. Long-struggling SAS has said the strike at the height of its peak season is costing $10 million to $13 million a day while at the […]

Business

Spirit Airlines to delay vote on Frontier deal for fourth time

Takeover target Spirit Airlines Inc (SAVE.N) plans to delay a shareholder vote on its sale to Frontier Group Holdings Inc (ULCC.O) for the fourth time, as both carriers struggle to gather enough support for the deal. Spirit intends to push the special meeting to July 27 from July 15, it said on Wednesday, two days […]

Business

Hindenburg goes long on Twitter, bets against Musk

Short-seller Hindenburg Research said on Wednesday it had taken a long position in Twitter Inc (TWTR.N) shares, sending the stock up about 8%, a day after the social media firm sued Elon Musk for backing out of his $44 billion deal. On Tuesday, Twitter sued Musk for violating his $44 billion deal and asked a […]

Business

Can Elon Musk defy a court if ordered to buy Twitter?

Twitter Inc (TWTR.N) has sued Elon Musk to force him to go through with the $44 billion acquisition of the social media company. read more What happens if Twitter succeeds and the world’s richest man, who regularly taunts securities regulators, refuses to comply with the court order? CAN A COURT ORDER MUSK TO BUY TWITTER? […]