By Sachin Ravikumar and Shanima A (Reuters) -M&C Saatchi on Tuesday rejected a fourth takeover offer from its biggest investor Vin Murria, saying the “derisory” proposal worth 253.6 million pounds ($316.4 million) undervalued the British advertising gr…
No need for trade war with EU, says Britain’s N. Ireland minister
LONDON (Reuters) – A trade war between Britain and the European Union is unnecessary and would be of no benefit to anyone, Britain’s Northern Ireland minister Brandon Lewis said on Tuesday. The EU has warned of legal action and a trade war if London ta…
Credit Suisse Group rating downgraded by S&P
ZURICH (Reuters) -Credit Suisse Group AG’s credit rating has been downgraded to BBB from BBB+ by Standard & Poors, a blow for the Swiss bank which reported a first quarter loss and is facing increasing shareholder unrest following a string of scandals….
Shares rebound, Treasury yields rise on stronger data
By Herbert Lash NEW YORK (Reuters) – Global equity markets rallied and Treasury yields rose on Tuesday, as solid U.S. retail sales in April suggested economic growth might strengthen, as did an easing of China’s lockdowns to contain the COVID-19 pandem…
Mariupol defenders surrender to Russia but their fate is uncertain
By Natalia Zinets MARIUPOL, Ukraine (Reuters) – More than 250 Ukrainian fighters surrendered to Russian forces at the Azovstal steelworks in Mariupol after weeks of desperate resistance, bringing an end to the most devastating siege of Russia’s war in …
Oil jumps to 7-wk high, then dips on hopes for Venezuela supply
By Stephanie Kelly NEW YORK (Reuters) -Oil prices jumped over $115 a barrel on Tuesday, their highest in about seven weeks, as the European Union kept pushing for a ban on Russian oil imports that would tighten supply. Prices retreated and were slightl…
Sri Lanka down to last day of petrol, PM tells crisis-hit nation
By Alasdair Pal and Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka’s new prime minister said on Monday the crisis-hit nation was down to its last day of petrol, as the country’s power minister told citizens not to join the lengthy fuel queues that have…
Reckitt Benckiser says it is working to boost baby formula output amid U.S. shortage
(Reuters) – Reckitt Benckiser is working to boost the production of baby formula amid a U.S. shortage of the product, the company’s president of nutrition told the CBS Evening News on Monday. “We’re working closely with the administration and the FDA t…
James Hardie annual profit rises on demand from U.S. housing market
(Reuters) – James Hardie Industries posted a 35% rise in annual profit on Tuesday, benefiting from strong demand for its fibre cement products in the North American housing market. The Dublin-based company posted an adjusted net income of $620.7 millio…
Musk tells conference a lower price for Twitter might be appropriate
By Katie Paul and Krystal Hu (Reuters) -Elon Musk suggested that a lower price for Twitter Inc may be appropriate as he and CEO Parag Agrawal quarreled over the company’s estimates of spam accounts on Monday, according to an attendee at a private confe…