Business

ISS says JetBlue’s Spirit offer ‘more favorable’ but sticks to Frontier

Institutional Shareholder Services (ISS) said JetBlue Airways Corp’s (JBLU.O) latest offer to buy Spirit Airlines Inc (SAVE.N) is “more favorable” for the ultra-low-cost airline’s shareholders, but maintained its support for the Frontier deal. Spirit Airlines on Tuesday again cited antitrust concerns to reject JetBlue’s sweetened offer and asked its shareholders to vote for a merger […]

Business

Shell to update its U.S. health care options after Roe v. Wade

Shell PLC (SHEL.L) on Tuesday said it will update its health care options in the U.S. to ensure employees continue to have access to uninterrupted medical services. “We are updating our national healthcare options to ensure access to a broad range of medical services, including those that require travel,” the company said, when asked about […]

Business

Inflation saps U.S. consumer confidence; house prices remain elevated

U.S. consumer confidence dropped to a 16-month low in June as worries about high inflation left consumers to anticipate that the economy would slow significantly or even slide into recession in the second half of the year. Despite the gloomy outlook, consumers showed little sign of cutting back on spending, with buying plans for motor […]

Business

Novartis to cut up to 8,000 jobs globally

Novartis (NOVN.S) said on Tuesday a previously announced restructuring programme could lead to 8,000 jobs being cut, or about 7.4% of its global workforce, including up to 1,400 in Switzerland. The job cuts, previously projected by Chief Executive Vas Narasimhan to be in the “single digit thousands”, are part of a restructuring programme the Swiss […]

Business

Africa’s dream of feeding China hits hard reality

Watching workers poke avocados from the treetops in an orchard owned by Kenyan agriculture firm Kakuzi, managing director Chris Flowers revels in the thought some might soon go to the crown jewel of emerging consumer markets: China. Taking advantage of Beijing’s deeper focus on trade with African countries to help reduce gaping deficits, Kenya struck […]

Business

Buffett’s Berkshire buys more Occidental shares, raises stake to about 16.4%

Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) said on Monday it has purchased another 794,389 shares of Occidental Petroleum Corp (OXY.N), giving the conglomerate a nearly 16.4% stake in the Houston, Texas-based oil company. The purchases were made in multiple transactions and cost about $44 million, Berkshire said in a regulatory filing. The share purchases come […]

Business

Spirit Airlines again rebuffs JetBlue for merger with Frontier

Spirit Airlines Inc (SAVE.N) on Tuesday again cited antitrust concerns to reject JetBlue Airways Corp’s (JBLU.O) sweetened offer and asked its shareholders to vote for a merger with Frontier Group Holdings Inc (ULCC.O) at a meeting on Thursday. In the latest offer, JetBlue included a ticking fee of 10 cents per Spirit share, raising the […]