Author: Press Room
(Reuters) -The U.S. Federal Trade Commission (FTC) is investigating whether Roark Capital’s purchase of Subway for $10 billion is legal under antitrust law given that the private equity firm already owns Jimmy John’s and Arby’s, Politico reported Tuesday. The probe highlights the fact that the Biden administration’s antitrust enforcers are focusing their efforts on basic consumer goods. Private equity acquisitions have been another focus. The FTC is investigating whether buying Subway would give Roark too much power in fast food, the report said, citing sources familiar with the matter. Roark controls Inspire Brands, the owner of restaurant chains including Jimmy…
© Reuters. Richard Teng, head of the Middle East and North Africa for crypto firm Binance gestures as he speaks during an interview with Reuters in Dubai, United Arab Emirates, March 30, 2022. Picture taken March 30, 2022. REUTERS/Abdel Hadi Ramahi/File Photo (Reuters) – Binance founder Changpeng Zhao said on Tuesday insider Richard Teng has been named the new chief executive of the cryptocurrency exhange.
© Reuters. FILE PHOTO: An agricultural worker operates a tractor with a seeder to sow wheat on farmland in Comodoro Py, on the outskirts of Buenos Aires, Argentina June 21, 2022. REUTERS/Matias Baglietto/File Photo By Tom Polansek (Reuters) – Argentina’s farmers may be more willing to spend money on seeds and other agricultural products, hoping that new President-elect Javier Milei’s policies will improve earnings from their future harvests, the chief executive of Argentine biotech firm Bioceres said on Tuesday. Milei’s election and recent rains are fueling optimism among some in Argentina’s agribusiness sector after the country struggled with a historic…
Morningstar says exec chairman Mansueto sells 22K shares in co
© Reuters. The Euro has maintained its bullish stance against the US Dollar, staying above key moving averages despite a brief retraction from its weekly high. Market participants have been closely monitoring the currency pair after the Federal Reserve released its Meeting Minutes, which reinforced the central bank’s commitment to maintaining a high-rate policy to combat inflation expectations. The pair tested the critical level of 1.0900 following the release, but market reaction remained subdued. Investors are now looking ahead to Wednesday’s economic data releases for further direction. The upcoming figures include:US Jobless Claims, which are expected to show a slight…
Rep. Anna Eshoo, D-Calif., announced Tuesday that she will not be running for reelection in 2024 after serving more than three decades in Congress.”I’m choosing this beautiful season of Thanksgiving to announce that I will not seek reelection,” Eshoo, 80, said in a video accompanying the announcement. “And I do so with a heart filled with unending gratitude to you, my magnificent constituents.”Eshoo will serve out her term until January 2025, her office said in a press release.”As my last year in Congress approaches, I will continue my work with vigor and unswerving commitment to you,” she said. Representative Anna Eshoo,…
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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.OpenAI’s directors are in talks with Sam Altman to allow him to re-join the board, four days after their decision to sack him plunged the generative artificial intelligence start-up into turmoil. A deal to unify the company by bringing its former chief executive back alongside the remaining directors would be a compromise for both sides. More than 95 per cent of OpenAI employees signed a letter this week calling for the board to resign and reinstate Altman, while a trio of holdout…
5/5 © Reuters. FILE PHOTO: Zhao Changpeng, founder and chief executive officer of Binance speaks during an event in Athens, Greece, November 25, 2022. REUTERS/Costas Baltas/File Photo 2/5 By Niket Nishant, Hannah Lang and Tom Wilson (Reuters) -Binance chief Changpeng Zhao will step down and plead guilty to breaking criminal U.S. anti-money laundering laws as part of a settlement resolving a years-long probe into the world’s largest crypto exchange, prosecutors said on Tuesday. But he’s not the only one in regulators’ sights. As token prices plummeted last year, the sector saw other stunning meltdowns that put several industry moguls into…
© Reuters. TORONTO – CIBC has become the final major Canadian bank to offer the First Home Savings Account (FHSA), a program designed to help individuals save for their first home purchase. The FHSA initiative, introduced by the Canadian government to address housing affordability, combines features of Registered Retirement Savings Plans (RRSPs) and Tax-Free Savings Accounts (TFSAs) to assist potential homeowners with accumulating their down payment. The FHSA market has seen significant interest since its inception, with National Bank and RBC leading the way in April when they first provided FHSAs. Their early adoption signaled confidence in the program’s potential…