Wednesday, 8 June 2022

Spirit Airlines delays shareholder vote on Frontier deal

Spirit Airlines delays shareholder vote on Frontier deal

Spirit Airlines Inc has delayed a shareholder meeting to vote on its proposed buyout by Frontier Group Holdings Inc to June 30, after JetBlue Airways Corp sweetened a rival offer for the budget carrier.

Surge in euro zone wages may be less than meets the eye

Euro zone wages are climbing after a lost decade but some pay rises may prove fleeting as employers across the bloc opt to give one-off bonuses rather than permanent increases against an uncertain outlook for growth and inflation.

Campbell Soup lifts sales forecast on strong demand, higher prices

Campbell Soup Co raised its annual core sales forecast on Wednesday, benefiting from higher prices and robust demand for its broths and sauces, sending its shares up 3% in premarket trade.

After lockdown, Shanghai tries to mend fences with foreign firms

Shanghai officials are seeking to revive confidence among multinational firms bruised and frustrated by the city's COVID-19 lockdown by holding multiple meetings with foreign firms and easing a key border requirement for overseas workers.

Novavax shares jump as FDA panel backs COVID vaccine

Shares of Novavax Inc surged nearly 20% on Wednesday after advisers to the Food and Drug Administration overwhelmingly backed the use of its COVID-19 vaccine, bringing the shot a step closer to a U.S. launch.

Futures slip as tech-driven rally loses steam

U.S. stock index futures slipped on Wednesday as a rally in technology and growth stocks from the previous session eased, while higher oil prices stoked worries of a further rise in global inflation.

Dollarama beats sales estimates on strong demand for consumables

Canada's Dollarama Inc beat estimates for quarterly sales on Wednesday as surging inflation fueled demand for the discount store's groceries and household essentials.

Italian court rules in favour of Blackstone in RCS property dispute

A Milan court has ruled in favour of investment fund Blackstone and rejected an appeal by Italy's RCS Mediagroup against an arbitral tribunal decision on the disputed sale of the headquarters of the publishing company.

Same-old, same-old, Japan sticks to forex stance even as yen slide steepens

Japanese policymakers held fast to their usual line on yen weakness on Wednesday, stating that rapid moves were undesirable, butconfounded expectations they may escalate warnings about the sliding currency as it fell to fresh 20-year lows.

Exclusive: Under Biden, China has widened trade lead in much of Latin America

China has widened the gap on the United States in trade terms in large swathes of Latin America since U.S. President Joe Biden came into office early last year, data show, underscoring how Washington is being pushed onto the back foot in the region.

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