News That Matters

Tag: BACT

Taxes can be key to social justice, pope tells business leaders
Business

Taxes can be key to social justice, pope tells business leaders

Pope Francis gestures during the meeting with the participants of the International Congress of Catechists at the Vatican, September 10, 2022. REUTERS/Remo CasilliRegister now for FREE unlimited access to Reuters.comRegisterVATICAN CITY, Sept 12 (Reuters) - Taxes are "an often misunderstood" tool of social justice and should not be seen as an example of a government overstepping its powers, Pope Francis told an audience of Italian business leaders on Monday.The Argentine-born pope spoke ahead of a general election on Sept. 25 in Italy, a country noted for endemic tax evasion, where a right-wing coalition promising major tax cuts is on course for a clear victory. read more "What taxes and duties are in the modern world and democracies is very important, [they are] an often misunderstood...
Emirates picks Thales-made entertainment system for A350 fleet
Entertainment

Emirates picks Thales-made entertainment system for A350 fleet

The logo of Thales is seen on a company building in Brest, France, March 14, 2022. REUTERS/Stephane MaheRegister now for FREE unlimited access to Reuters.comRegisterPARIS, Sept 8 (Reuters) - Thales (TCFP.PA) on Thursday announced that Emirates chose to equip its future Airbus A350 fleet with a passenger entertainment system made by the French aviation supplier."This new fleet of A350's will be equipped with Thales' premier AVANT Up inflight entertainment solution to offer the finest cinematic and personalized customer experience", Thales said in a statement.The system consists of 4k displays offering over 5,000 television channels, bluetooth connections, Wi-Fi, and various charging ports for portable devices.Emirates has ordered 50 Airbus A350-900 long-haul aircraft with deliveries sche...
CVS in advanced talks to buy Signify Health for about $8 bln – WSJ
Health

CVS in advanced talks to buy Signify Health for about $8 bln – WSJ

CVS Health logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/Register now for FREE unlimited access to Reuters.comRegisterSept 2 (Reuters) - CVS Health Corp (CVS.N) is in advanced talks to buy home-healthcare company Signify Health Inc (SGFY.N) for about $8 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter.CVS appears to have beaten competition including Amazon.com Inc (AMZN.O) and UnitedHealth (UNH.N), who had also been circling Signify for a deal, according to the report. (https://on.wsj.com/3CVi2h1)UnitedHealth never submitted an official bid, WSJ said.Signify has been exploring strategic alternatives since earlier this summer, but there is still no guarantee that CVS will reach a deal, the report...
NewAge, seller of health and wellness products, files for bankruptcy in Delaware
Health

NewAge, seller of health and wellness products, files for bankruptcy in Delaware

Register now for FREE unlimited access to Reuters.comRegisterAug 30 (Reuters) - NewAge Inc (NBEV.O), a direct-to-consumer seller of health and wellness products, filed for bankruptcy on Tuesday and said it plans to sell itself, after disclosing material weaknesses in its financial reporting.The Midvale, Utah-based company and three affiliates sought Chapter 11 protection from creditors with the U.S. bankruptcy court in Delaware.Tuesday's filing came three weeks after the company received a default notice on a loan agreement.Register now for FREE unlimited access to Reuters.comRegisterNewAge said it had $310.9 million of assets and $149.4 million of debts as of the end of 2021.In a regulatory filing, NewAge said it received a $28 million bid from an entity known as DIP Financing LLC to b...
Baidu revenue contracts but beats estimates on cloud business growth
Business

Baidu revenue contracts but beats estimates on cloud business growth

Men interact with a Baidu AI robot near the company logo at its headquarters in Beijing, China April 23, 2021. REUTERS/Florence Lo/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterAug 30 (Reuters) - China's search engine giant Baidu Inc (9888.HK) beat quarterly revenue estimates on Tuesday, underpinned by growth in its cloud business, even as it reported its first year-on-year quarterly revenue contraction in two years.Total revenue shrank by 5% to 29.65 billion yuan ($4.43 billion) in the second quarter, compared with analysts' average estimate of 29.30 billion yuan, according to Refinitiv data.U.S.-listed shares of the company rose 3.2% in premarket trading.Register now for FREE unlimited access to Reuters.comRegisterEven as Baidu's core advertising sales continu...
Australia’s Ramsay Health gets ‘inferior’ alternate offer from KKR-led group
Health

Australia’s Ramsay Health gets ‘inferior’ alternate offer from KKR-led group

Aug 25 (Reuters) - Australia's Ramsay Health Care Ltd (RHC.AX) said on Thursday it received a "meaningfully inferior" alternate proposal from a group led by KKR & Co (KKR.N) that would allow it to retain a 37% stake in its Paris-based unit Ramsay Generale De Sante (GDSF.PA).Ramsay currently owns over 52% shares in the Paris-based Ramsay Generale De Sante (Ramsay Sante). If accepted, the alternate offer would give the consortium a 15% stake in the hospital operator, while Ramsay shareholders would retain the balance. read more In April, the consortium comprising of private equity giant KKR and Australian pension fund HESTA, among others, made a cash offer of A$88.0 per share - valuing it at around $15 billion - and had been allowed due diligence on a non-exclusive basis.Register now...
Former UK minister Gove backs Sunak, says he is quitting frontline politics – The Times
Politics

Former UK minister Gove backs Sunak, says he is quitting frontline politics – The Times

British Secretary of State for Housing and Communities Michael Gove arrives at 10 Downing street ahead of British Prime Minister Boris Johnson's weekly questions in parliament in London, Britain, June 15, 2022. REUTERS/Peter NichollsRegister now for FREE unlimited access to Reuters.comRegisterAug 19 (Reuters) - Former British cabinet minister Michael Gove on Friday endorsed Rishi Sunak for prime minister and announced an end of his frontline political career, he said in an op-ed in The Times.Gove wrotein the op-ed that he thinks Liz Truss' campaign for 10 Downing Street "has been a holiday from reality."He said Truss' proposed cuts to national insurance would favour the wealthy, and that he cannot see how safeguarding the stock options of FTSE 100 executives should ever take precedence ...
EXCLUSIVE Malaysia’s Tenaga plans $1 bln IPO for power business, sources say
Business

EXCLUSIVE Malaysia’s Tenaga plans $1 bln IPO for power business, sources say

A view of Tenaga Nasional Berhad headquarters in Kuala Lumpur, Malaysia, October 13, 2015. REUTERS/Olivia HarrisRegister now for FREE unlimited access to Reuters.comRegisterSINGAPORE, Aug 12 (Reuters) - Malaysian electricity utility Tenaga Nasional Bhd (TENA.KL) plans to set begin the process next year for a potential $1 billion listing of its power generation business, sources close to the matter told Reuters.In what would be the country's largest initial public offering (IPO) in a decade, TNB Power Generation Sdn Bhd, known as TNB Genco, could be valued at about $4 billion, the sources said, declining to be named owing to the confidential nature of the matter.Proceeds from the offering will be used to grow TNB Genco's renewable energy portfolio, they added.Register now for FREE unlimi...
Trump signals he will testify in New York probe into business practices
Business

Trump signals he will testify in New York probe into business practices

Former U.S. President Donald Trump arrives at Trump Tower the day after FBI agents raided his Mar-a-Lago Palm Beach home, in New York City, U.S., August 9, 2022. REUTERS/David 'Dee' DelgadoRegister now for FREE unlimited access to Reuters.comRegisterAug 9 (Reuters) - Former U.S. President Donald Trump indicated he would testify on Wednesday in a New York investigation by the state's attorney general into his family's business practices, with the possible testimony coming amid a flurry of legal woes for him.New York State Attorney General Letitia James is conducting a civil investigation examining whether the Trump Organization inflated real estate values. Trump and two of his adult children, Donald Trump Jr. and Ivanka Trump, have agreed to testify.Trump has denied wrongdoing and called...
AMC Entertainment beats quarterly revenue estimates, announces dividend
Entertainment

AMC Entertainment beats quarterly revenue estimates, announces dividend

An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterAug 4 (Reuters) - AMC Entertainment Holdings Inc (AMC.N) reported second-quarter revenue marginally ahead of Wall Street estimates on Thursday, as big-ticket films such as "Top Gun: Maverick" drew crowds to movie halls, driving a surge in box-office collections at the world's largest theater chain.AMC also announced a special dividend in the form of preferred stock, to paid on Aug. 19. The company will issue one preferred equity unit for each of the 516.8 million class A common stock.With COVID receding, consumers are increasingly returning to o...