The PM is expected to say he wants to extend the right to buy to people who rent from housing associations. It comes after four in ten of his MPs voted against him in a confidence vote triggered by Partygate. Boris Johnson is trying to repair relations with Tory MPs who revolted against him. Boris … Read more
Next-generation presidential aircraft risk further delay due to a tight labor market for mechanics and lower-than-expected security clearance rates. The need for Boeing to switch to an alternative supplier for some interior work was also cited as a major schedule risk by the GAO. The cutting-edge official airplane being worked by Boeing Co (BA.N) gambles … Read more
Apple announced it would more deeply integrate its software into the core driving systems of cars. The iPhone maker rolled out a slew of features for payments and business collaboration. Apple showed off a new car dashboard that it said would be able to display data from instruments such as speed, fuel levels, and gas … Read more
Carl Icahn is dropping a proxy fight focused on the treatment of pregnant pigs at Kroger after losing a similar fight with McDonald’s. The billionaire investor in March nominated two directors to the supermarket chain’s board. He also wrote a letter to its boss pointing out Kroger’s inability to create policies concerning animal welfare. Tycoon … Read more
Gina Raimondo said President Joe Biden has asked his team to look at the option of lifting some tariffs on China. The tariffs were put in place by former President Donald Trump, to combat the current high inflation. Some of the tariffs will be kept on steel and aluminum to protect U.S. workers. U.S. Trade … Read more
Changes to the Competition Act are coming after more than a decade. The government wants to put some teeth in its antitrust regulations, much like the U.S., EU and Australia. They would include giving the antitrust agency the authority to seek remedial action in an overseas merger. The proposed changes to the Competition Act are … Read more
A rocket built by Jeff Bezos’ Blue Origin has taken its fifth group of passengers to the edge of space. One of the passengers is Katya Echazarreta, the first-ever Mexican-born woman to make such a journey. The 60-foot-tall suborbital rocket took off from Blue Origin’s facilities in West Texas. “Peering down and perceiving how everybody … Read more
Spotless bathrooms were once a crucial selling point for gas stations. Oil companies’ ads in the early and mid-20th century assured travelers that their bathrooms were clean. The development of the interstate highway system and the rise of self-service marked the end of clean bathrooms’ heyday. As a contest for clients filled during the 1920s … Read more
Bank of Baroda is set to benefit from the government’s thrust on increased infrastructure spending. Chairman Hasmukh Adhia said BoB has a positive outlook for 2022-23. The banking industry would be benefited due to an increase in the demand for bank credit. Bank of Baroda (BoB) is set to profit from the public authority’s push … Read more
The union claims Starbucks is violating federal labor law by closing an Ithaca, New York, store. Workers at the location voted to unionize in April. Starbucks says that it opens and closes stores “as a regular part” of its operations. It’s the latest escalation in a growing national labor movement. The laborers association at Starbucks … Read more
Abbott Nutrition resumes baby formula production at its Michigan plant. The company has been given the green light by the U.S. Food and Drug Administration. Production of EleCare, a formula for children who struggle to digest other products, will begin on June 20. Abbott Nutrition on Saturday continued child equation creation at its Sturgis, Michigan, … Read more
Frontier will pay $250 million if regulators don’t approve the planned combination of the two discount carriers. The fee is aimed at convincing investors to approve the deal next week. Spirit’s board rejected JetBlue’s advances to buy Spirit outright; JetBlue has urged Spirit shareholders to vote against the deal. Soul said an arrangement with JetBlue … Read more
At Walmart store thousands of employees gathered at a huge arena on Friday for the annual pep rally. CEO Doug McMillon acknowledged the new challenge facing the company: Inflation. Walmart’s workforce is “resilient and we love the challenge of retail,” he said. “We have been really buckling down on costs through and through, making a … Read more
Shanghai lifted its two-month lockdown on Wednesday. So far, Starbucks has reopened about 600 of its 940 stores in the city. The coffee chain is working with local authorities to resume indoor dining “as soon as possible,” says a spokesperson for Starbucks. China’s greatest city was under some type of lockdown from late March until … Read more
It could take several weeks, if not longer, for Kohl’s sale negotiations to come together. Talks have been particularly long because of the difficulty in securing financing. A likely per-share deal price at this point would be in the mid-$50s, a source says. “Anyone who purchases the business will require time,” said the individual, who … Read more
US employers added more jobs than expected in May. The unemployment rate held at 3.6% for the third month in a row but was the slowest increase in a year. The soundness of the work market on the planet’s biggest economy is firmly looked as quick rising costs raise fears of future slump. Lately, a … Read more
The company closed its Moscow office and paused investment in Russia in March. Marriott said Western restrictions made it “impossible” to keep operating there. The chain’s 22 hotels in the country are owned by third parties and remained open, but remain out of business. Marriott said the most common way of suspending activities was “mind-boggling”. … Read more
U.S. stock fates were level Wednesday night as financial worries hauled down financial backer feeling. Fates attached to the Dow Jones Industrial Average edged lower by 13, or 0.04%. S&P 500 prospects plunged 0.02%, and Nasdaq 100 fates were lower by 0.02%. Portions of pet retailer Chewy flooded night-time by almost 20% after the organization … Read more
