By Rajesh Kumar Singh and Allison Lampert CHICAGO (Reuters) – Southwest Airlines is girding itself for a fight with Elliott Investment Management, rallying support from investors and employees to face down an activist investor looking for wholesale changes to company leadership. In recent weeks, CEO Bob Jordan has been meeting and gathering feedback from investors…
By Nell Mackenzie LONDON (Reuters) – Hedge funds sold industrial stocks at the fastest pace since December, while buying energy stocks for the fourth straight week last week, a Goldman Sachs note seen by Reuters on Monday showed. Hedge funds last week sold industrial stocks at some of the highest levels seen in five years,…
By Steven Scheer JERUSALEM (Reuters) – Israel’s economy grew less than expected in the second quarter of 2024, extending a period of volatility since the start of war in Gaza, but the weakness is likely not enough to prompt a central bank rate cut next week given rising inflation. The Central Bureau of Statistics said…
WARSAW (Reuters) – Suggestions that Ukrainian authorities supported by Poland were behind planning and executing the sabotage attack on Nord Stream gas pipelines in 2022 are groundless, the Polish president’s aide said on Sunday. Germany’s former intelligence chief August Hanning told Die Welt this week he believed there were agreements between presidents of Poland and…
By Jarrett Renshaw (Reuters) – In the five weeks since U.S President Joe Biden abandoned his flailing reelection bid, the Democratic Party’s fortunes have changed dramatically, and this week the change will be on full display. Vice President Kamala Harris, now the party’s candidate, is heading into the Democratic National Convention riding a historic whirlwind:…
By Nyasha Chingono HARARE (Reuters) – About 68 million people in Southern Africa are suffering the effects of an El Nino-induced drought which has wiped out crops across the region, the regional bloc SADC said on Saturday. The drought, which started in early 2024, has hit crop and livestock production, causing food shortages and damaging…
By Jody Godoy WASHINGTON (Reuters) -The U.S. Federal Trade Commission sued Asbury Automotive Group on Friday, alleging that three of its dealerships in Texas charged Black and Latino customers higher prices than others, and routinely added services to customers’ contracts without their consent. Up to 75 percent of customers of David McDavid Ford dealership in…
By Nathan Layne and Joseph Ax WILKES-BARRE, Pennsylvania (Reuters) – Republican Donald Trump and Democrat Kamala Harris will hold dueling campaign events this weekend in Pennsylvania, the political battleground that may be the most critical state in the Nov. 5 presidential election. Trump, the former president, will hold a Saturday rally in Wilkes-Barre in the…
FRANKFURT (Reuters) – German battery maker Varta said on Saturday it had reached a restructuring agreement with its creditors, bringing on sports car manufacturer Porsche to save the ailing business. Varta’s debt will be reduced from 485 million euros ($534.86 million) to an initial 200 million euros, the company said. Lengthy negotiations between major shareholder…
SAO PAULO (Reuters) – Media platform X said on Saturday it would close its operations in Brazil “effective immediately” due to what it called “censorship orders” from Brazilian judge Alexandre de Moraes. X claims Moraes secretly threatened one of its legal representatives in Brazil with arrest if it did not comply with legal orders to…
