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☆ Exclusive: Exxon aims to begin lithium production by 2026 in Arkansas
▼ + stars: | 2023-11-11 | by ( Ernest Scheyder | Thomson Reuters | Ernest Scheyder Is An Award-Winning Senior Correspondent Covering The Green Energy Transition | ) www.reuters.com time to read: +4 min

For Exxon and other oil companies, lithium production offers the prospect of selling a new product with relatively little added cost. OTHER ACREAGESeparate from its Tetra partnership, Exxon also controls more than 100,000 acres in Arkansas from which it plans to begin lithium production by 2027, according to the source. It was not clear whether Exxon plans to expand lithium operations outside Arkansas. Like all oil producers, Exxon extracts water containing traces of lithium as part of fossil fuel production. The Arkansas Oil and Gas Commission, which overseas lithium operations in the state, has said it plans to hold hearings on the matter.

Persons: Darren Woods, Mike Blake, Albemarle, Ernest Scheyder, Caroline Humer, David Gregorio Our Organizations: ExxonMobil, Milken, Global Conference, REUTERS, Exxon Mobil, Exxon, Tetra Technologies, EV, Reuters, Tetra, Chevron, Battery Metals, EnergySource Minerals, Energy, Arkansas Oil and Gas Commission, Benchmark Minerals, Thomson Locations: Beverly Hills , California, U.S, Arkansas, Florida, Texas, Albemarle, Louisiana, Los Angeles

The European Commission in its 2016 decision said Apple benefited from two Irish tax rulings for more than two decades that artificially reduced its tax burden to as low as 0.005% in 2014. "The judgment of the General Court on 'tax rulings' adopted by Ireland in relation to Apple should be set aside," he said in a non-binding opinion. "It is therefore necessary for the General Court to carry out a new assessment," Pitruzzella said. Her biggest legal victory to date came in September when the General Court upheld her decision against a 700-million-euro Belgian tax scheme for 55 multinationals. Vestager is currently investigating IKEA brand owner Inter IKEA's Dutch tax arrangement in a case dating from 2017, Nike's (NKE.N) Dutch tax rulings and Finnish food and drink packaging company Huhtamaki's (HUH1V.HE) tax rulings granted by Luxembourg.

Persons: Mike Blake, Margrethe Vestager's, Apple, Apple's, Giovanni Pitruzzella, CJEU, Pitruzzella, Michael McGrath, Court’s, Vestager, Stellantis Organizations: REUTERS, Rights, EU, Apple, European Commission, of Justice, Justice, Court, Ireland, Dublin, Starbucks, IKEA, Inter IKEA's, Thomson Locations: La Jolla , California, U.S, Rights LUXEMBOURG, Ireland, Belgian, Luxembourg

☆ Illumina cuts annual profit forecast for second straight quarter
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

A sign at the front entrance to the global headquarters of Illumina is pictured in San Diego, California, U.S., November 28, 2022. REUTERS/Mike Blake/File Photo Acquire Licensing RightsCompanies Grail Inc FollowIllumina Inc FollowNov 9 (Reuters) - U.S. genetic testing Illumina (ILMN.O) on Thursday trimmed its annual profit forecast for the second straight quarter, hurt by weakness in demand for its sequencing instruments, consumables and services. Illumina also disclosed it recognized $712 million in goodwill and $109 million in intangible asset impairment related to the Grail segment, in the quarter. Illumina sees full-year adjusted profit per share to be between $0.60 and $0.70, versus its prior forecast range of $0.75 to $0.90. On an adjusted basis, the company earned 33 cents per share during the quarter, versus analysts' estimate of 12 cents per share.

Persons: Mike Blake, Illumina, Pratik Jain, Shilpi Majumdar Organizations: REUTERS, Thomson Locations: San Diego , California, U.S, China, Bengaluru

At the 12th annual Exposure Skate competition this month in the California beach town of Encinitas, girls under 10 and in their teens were shredding. "I hope girls' skateboarding improves even more and we can push each other and beat the boys," Suganami added with a laugh. Parents of the skateboarding girls are equally stoked by the expertise and the attention. "They are missing that girls are the future of skateboarding and girls can be good at skateboarding too," said Lulu Johnson. "So what you will see if you go to a skate park or skateboarding contest, is the competitors are cheering each other, supporting each other.

Persons: Jordyn Barratt, Mike Blake, Cona Suganami, Suganami, Amelia Brodka, Brodka, Tony Hawk, Hawk, Lauren Wigo, Marisol Concha, Lisa Lilley, Ruby, Lilley, Mindy Johnson, Lulu, Lulu Johnson, extol, Mary Milliken, Lincoln Organizations: REUTERS, Reuters, Thomson Locations: Hawaii, Encinitas , California, U.S, , California, California, Encinitas, Tokyo, Poland, Park, New York City, Oceanside , California, Minnesota

☆ 'She Shreds': Skateboarding Girls up Their Game at California Contest
▼ + stars: | 2023-11-09 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +4 min

Persons: Mike Blake ENCINITAS, Cona Suganami, Suganami, Amelia Brodka, Brodka, Tony Hawk, Hawk, Lauren Wigo, Marisol Concha, Lisa Lilley, Ruby, Lilley, Mindy Johnson, Lulu, Lulu Johnson, extol, Mike Blake, Mary Milliken, Lincoln Organizations: Reuters Locations: Mike Blake ENCINITAS , California, California, Encinitas, Tokyo, Poland, Park, New York City, Oceanside , California, Minnesota

☆ Sony profit slides on chip slump, maintains PS5 sales target
▼ + stars: | 2023-11-09 | by ( Sam Nussey | ) www.reuters.com time to read: +3 min

Profit for the quarter was 263 billion yen ($1.74 billion). That compared with a 306 billion yen estimate from 10 analysts polled by LSEG. The conglomerate sold 4.9 million PS5 units in the second quarter, bringing sales this financial year to 8.2 million units. Sony hiked its full-year sales forecast for the games unit by almost 5% to 190 billion yen. The company maintained its full-year operating profit at 1.17 trillion yen but raised its sales and net income forecast by 2% each.

Persons: Mike Blake, Hiroki Totoki, Jim Ryan, Jefferies, Atul Goyal, Sam Nussey, Muralikumar Anantharaman, Kim Coghill Organizations: Sony, REUTERS, LSEG, Industry, Bungie, Nintendo, Microsoft, Thomson Locations: Rancho Bernardo, California, TOKYO

☆ Tesla to roll into South America with first steps in Chile
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

Tesla Inc. vehicle facility is pictured in Costa Mesa, California, U.S., November 1, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsCompanies Tesla Inc FollowSANTIAGO, Nov 9 (Reuters) - Electric vehicle maker Tesla (TSLA.O) is looking to make inroads in South America by hiring personnel for a new operation in Chile and registering its name, according to public documents. Tesla Chile was registered and published in the Official Gazette on Sept. 28 and includes "the import, export, manufacturing, marketing, distribution and sale of vehicles, especially electric vehicles." Although Tesla Chile was registered with headquarters in Santiago, the registration leaves the option for "branches or agencies that may be established in other cities in the country or abroad." This would be Tesla's first direct commercial operation in South America.

Persons: Mike Blake, Elon Musk, BYD, Fabián Andrés, Alexander Villegas, Bill Berkrot Organizations: Tesla Inc, REUTERS, Tesla, Elon, Thomson Locations: Costa Mesa , California, U.S, South America, Chile, Tesla Chile, Santiago

☆ Republican debate: Will DeSantis and Haley take fight to Trump or each other?
▼ + stars: | 2023-11-08 | by ( James Oliphant | ) www.reuters.com time to read: +4 min

REUTERS/Mike Blake/File Photo Acquire Licensing RightsMIAMI, Nov 8 (Reuters) - An intensifying rivalry between Ron DeSantis and Nikki Haley could dominate Wednesday's Republican debate as the two 2024 U.S. presidential hopefuls seek to present themselves as their party's best alternative to former President Donald Trump. Haley, 51, in third place nationally, has grown stronger as she seeks to dislodge DeSantis, 45, from his distant second place in the Republican race after Trump. With the first Republican state nominating contest, in Iowa, little more than two months away, Haley, a former South Carolina governor who also served as Trump's U.N. ambassador, and Florida Governor DeSantis are running out of time. DESANTIS AT HOME IN FLORIDAThe Florida debate setting offers DeSantis a home advantage over others on stage. Haley will be coming off two strong debate performances and has been the only Republican besides Trump to show recent momentum in early nominating states such as Iowa and New Hampshire.

Persons: Nikki Haley, Ron DeSantis, Ronald Reagan, Mike Blake, Donald Trump, Haley, DeSantis, U.N, Florida Governor DeSantis, Trump, Joe Biden, Aaron Kall, ”, Haley’s, Betsy Ankney, Chris Christie, Vivek Ramaswamy, Tim Scott, Ramaswamy, James Oliphant, Gram Slatter, Ross Colvin, Howard Goller Organizations: South Carolina, Republican, Ronald Reagan Presidential, REUTERS, Rights MIAMI, Wednesday's Republican, Trump, Florida Governor, Democratic, University of Michigan, New, Thomson Locations: Florida, Simi Valley , California, U.S, Wednesday's, Miami, Iowa, South Carolina, Hialeah, FLORIDA, Palm Beach, New Hampshire, United States, Iowa , New Hampshire, New Jersey

REUTERS/Mike Blake Acquire Licensing RightsNov 8 (Reuters) - Lyft (LYFT.O) reported third-quarter revenue and profit surpassing estimates on Wednesday, but gross bookings growth was lower than larger rival Uber's (UBER.N) ride-hailing business. "Softening macro conditions will likely impact Lyft more than its larger peer, Uber," said Angelo Zino, senior equity analyst at CFRA Research. Brewer added that an improved mix of airport rides, scheduled rides and priority pickups also helped margin expansion. Lyft forecast current-quarter adjusted core profit, a key profitability metric closely watched by investors, of $50 million-$60 million, higher than expectations of $48.8 million, according to LSEG data. Lyft said it expects fourth-quarter revenue to grow in mid-single-digits sequentially, compared with market expectation of 4.6% growth, according to Reuters calculations.

Persons: Uber, Mike Blake, Gross, Lyft, Angelo Zino, YipitData, Erin Brewer, Brewer, Akash Sriram, Krishna Chandra Organizations: REUTERS, CFRA Research, Reuters, Thomson Locations: California, Los Angeles , California, U.S, Bengaluru

☆ Pressure grows on US Treasury to salvage trucking giant Yellow
▼ + stars: | 2023-11-08 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +3 min

THE TAKERepublicans and Democrats pushing Treasury could benefit Jack Cooper, one the largest U.S. privately owned auto transport companies, making its long-shot bid to rescue Yellow from bankruptcy liquidation more likely. Making Yellow’s "loan repayment terms more flexible, is a commonsense step to keep Yellow’s trucks on the road, and keep its workforce gainfully employed," he wrote. Yellow's assets include 12,000 trucks and 35,000 trailers, along with hundreds of terminals, according to its bankruptcy court filing. Yellow said in its bankruptcy filing it had $2.15 billion in assets and $2.59 billion in debt. WHAT'S NEXTA final decision by Treasury on whether it will extend the loan is expected this month, as the bankruptcy proceeds to a potential sale of assets.

Persons: Mike Blake, Josh Hawley, Trump, Roger Marshall, Sherrod Brown, Bob Casey, Elizabeth Warren, Ed Markey, Jack Cooper, Jack Cooper's, Hawley, gainfully, Biden, Jarrett Renshaw, Heather Timmons, Matthew Lewis Organizations: U.S, U.S . Treasury, Republicans, Democrats, Reuters, Treasury, Republican, Democratic, Walmart, International Brotherhood of Teamsters, Thomson Locations: Mexico, San Diego , California, U.S, Philadelphia

☆ Viasat posts upbeat sales on satellite-based broadband services strength
▼ + stars: | 2023-11-08 | by ( Pratik Jain | ) www.reuters.com time to read: +2 min

A Viasat corporate logo is shown on a sign at the company's headquarters in Carlsbad, California, U.S. March 9, 2022. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNov 8 (Reuters) - Viasat (VSAT.O) reported second-quarter revenue on Wednesday that beat Wall Street estimates on strength in the segment that offers satellite-based broadband services. The satellite communications firm now expects full-year 2024 actual revenue to rise in the range of $4.10 billion to $4.25 billion. The forecast includes 10 months of contributions from British satellite rival Inmarsat, which Viasat acquired for $7.3 billion in May. The company's ViaSat-3 Americas satellite, which launched in April, suffered an antenna issue during deployment, while communications satellite from Inmarsat malfunctioned after launching to space in February.

Persons: Mike Blake, Guru Gowrappan, Gowrappan, Pratik Jain, Shounak Dasgupta, Shilpi Majumdar Organizations: Viasat, REUTERS, Wall, Reuters, ViaSat, Thomson Locations: Carlsbad , California, U.S, North America, British, Americas, Bengaluru

An electric pick-up truck is pictured at the Rivian Automotive Inc facility in Costa Mesa, California, U.S.,November 1, 2023. Smaller rival Lucid (LCID.O) cut its production forecast on Tuesday "to prudently align with deliveries", sending its shares down 3%. Last month, it reported third-quarter deliveries above market expectations. The company reported a net loss of $1.37 billion, compared with a loss of $1.72 billion a year earlier. Its third-quarter production fell nearly 30% to 1,550 vehicles.

Persons: Mike Blake, Tesla, Elon Musk, I'm, RJ Scaringe, Scaringe, Rivian, Alec Lucas, Akash Sriram, Zaheer Kachwala, Abhirup Roy, Krishna Chandra Organizations: Rivian Automotive Inc, REUTERS, Rivian, Reuters, Global, Saudi Arabia's Public Investment Fund, Amazon, Wall, Thomson Locations: Costa Mesa , California, U.S, Bengaluru, San Francisco

☆ Uber bets on holiday demand after dull third quarter
▼ + stars: | 2023-11-07 | by ( Yuvraj Malik | ) www.reuters.com time to read: +2 min

An Uber sign is seen at a shopping mall in San Diego, California, U.S., November 23, 2022. Uber is grappling with tough competition from Lyft, which has cut fares to gain customers as sticky inflation sparks worries about ride-share demand. "Consumer demand on our platform remains healthy as we enter the busiest period of the year," he said. Uber expects fourth-quarter adjusted core profit, a key profitability measure, between $1.18 billion and $1.24 billion, above estimates of $1.15 billion, LSEG data showed. In the third quarter, Uber's revenue grew at the slowest pace since 2021 to $9.29 billion, missing estimates of $9.52 billion.

Persons: Mike Blake, Dara Khosrowshahi, Uber, Gross, William Blair, Yuvraj Malik, Arun Koyyur Organizations: REUTERS, Thomson Locations: San Diego , California, U.S, Lyft, Bengaluru

☆ Uber bets on holiday travel demand to forecast strong fourth quarter
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

After a bruising 2022, the dominant U.S. ride-hailing company has benefited from the return-to-office push by companies and resilient travel demand despite inflation. Uber expects adjusted core profit, a profitability measure watched by investors, between $1.18 billion and $1.24 billion. The company's core profit topped expectations for the third quarter, but its revenue growth missed estimates. Revenue rose 11%, its slowest since the March 2021 quarter, to $9.29 billion, missing analysts' average estimate of $9.52 billion. Adjusted core profit was $1.09 billion compared to expectations of $1.02 billion.

Persons: Mike Blake, Dara Khosrowshahi, Gross, Uber, Yuvraj Malik, Arun Koyyur Organizations: REUTERS, Technologies, Revenue, Thomson Locations: San Diego , California, U.S, Bengaluru

☆ Rivian Plans to Make More EV Trucks, SUVs in 2023
▼ + stars: | 2023-11-07 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

Rivian says it has trimmed the losses on each vehicle it sells. Photo: mike blake/ReutersElectric-vehicle startup Rivian Automotive raised its production forecast for the year and said losses narrowed in the third quarter, as the company tries to increase output after a choppy two-year launch. Rivian also said Tuesday it was no longer required to sell its electric delivery vans exclusively to Amazon .com and was in talks with other potential customers. The companies were negotiating an end to the exclusivity part of their agreement after the online retailer’s order came in at the low end of a previously communicated range, The Wall Street Journal reported in March. Amazon owns a nearly 17% stake in Rivian.

Persons: Rivian, blake Organizations: Reuters, Automotive, Street, Amazon Locations: Rivian

☆ Lucid cuts full-year production forecast
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: 1 min

[1/2] A Lucid Motors facility is pictured in Costa Mesa, California, U.S.,November 1, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsCompanies Lucid Group Inc FollowNov 7 (Reuters) - Lucid Group (LCID.O) said on Tuesday it now expects to produce 8,000–8,500 vehicles this year from its earlier projection of more than 10,000 units. The company said it was cutting production forecast "to prudently align with deliveries". The company reported third-quarter revenue of $137.8 million compared with analysts' estimates of $183.8 million, according to LSEG. Reporting by Zaheer Kachwala in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Zaheer Kachwala, Krishna Chandra Organizations: REUTERS, Thomson Locations: Costa Mesa , California, U.S, Bengaluru

REUTERS/Mike Blake/File Photo Acquire Licensing RightsNov 6 (Reuters) - Lyft's (LYFT.O) price cuts may have helped the ride-hailing firm make a small dent in Uber's (UBER.N) U.S. market share, but not enough to prevent the bigger rival from reporting its second quarterly operating profit. Reuters GraphicsFor Lyft, which under new boss David Risher has signaled a more aggressive pricing strategy, market share wins have been slow. Lyft's share has risen just 200 basis points to 29% since January, when the price war started, YipitData said. "If Uber wants to take more market share quicker from Lyft, it could lower prices. Reuters GraphicsBut Uber's growth has slowed.

Persons: Mike Blake, Lyft, David Risher, YipitData, Uber, Adam Ballantyne, that's, Christopher Vandergrift, Akash Sriram, Shinjini Organizations: San Diego State University, REUTERS, Reuters, Cambiar Investors, Columbia Threadneedle Investments, Thomson Locations: San Diego , California, U.S, Bengaluru

☆ US FAA to hold new round of runway-safety meetings after close calls
▼ + stars: | 2023-11-06 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

A commercial aircraft approaches to land at San Diego International Airport in San Diego, California, U.S., January 6, 2022. The new meetings with the FAA, airlines, pilots, airport vehicle drivers and others will take place by Dec. 31. On Thursday, a U.S. Senate Commerce subcommittee will hold a hearing on recent incidents that raised questions about FAA air traffic control operations. The hearing will include FAA Air Traffic Organization head Tim Arel, National Transportation Safety Board Chair Jennifer Homendy, National Air Traffic Controllers Association (NATCA) President Rich Santa, Air Lines Pilots Association President Jason Ambrosi and former FAA administrator Randy Babbitt. The FAA said in September it was seeking recommendations on making it compulsory for airports to include cockpit-alerting technologies that could improve runway safety.

Persons: Mike Blake, Washington Reagan, Tim Arel, Jennifer Homendy, Rich, Jason Ambrosi, Randy Babbitt, Homendy, Bernadette Baum Organizations: San Diego International Airport, REUTERS, Rights, U.S . Federal Aviation Administration, FAA, National Transportation Safety Board, Fort, U.S, Senate, FAA Air Traffic Organization, Transportation, National Air Traffic Controllers Association, Rich Santa, Air Lines Pilots, Southwest Airlines, Boeing, Cessna, FedEx, Southwest Boeing, Thomson Locations: San Diego , California, U.S, Boston, Newark, Washington, Dallas, Fort Worth, Austin , Texas

☆ Sam Bankman-Fried was just convicted. Where does crypto go from here?
▼ + stars: | 2023-11-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at Sam Bankman-Fried's conviction and what it means for the future of crypto. Sam Bankman-Fried, the crypto industry's most recognizable face (and head of hair), was found guilty of seven counts of fraud and conspiracy on Thursday night. Charges against Bankman-Fried included wire fraud, conspiracy to commit wire fraud, conspiracy to commit securities fraud, conspiracy to commit commodities fraud, and conspiracy to commit money laundering. The conviction came, perhaps fittingly, on the first anniversary of the CoinDesk scoop that sent FTX, the crypto exchange Bankman-Fried co-founded and led, into a tailspin. The downfall was swift, with Bankman-Fried resigning as CEO and FTX collapsing just over a week after the initial report.

Persons: —, Katie Notopoulos —, Linda Yaccarino, Sam Bankman, Chelsea Jia Feng Down, Crypto, SBF, FTX, Fried, Katie Balevic, Jacob Shamsian, Katie, Chelsea Jia Feng, Miami —, That's, Brian Snyder Jamie Dimon, Jeff Gundlach, Gundlach, Mike Blake, Jack Dorsey, Samantha Lee, Janet Yallen, Sheryl Crow, Missy Elliott, isn't, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Bankman, Alameda Research, Wall, BlackRock, PayPal, JPMorgan, Microsoft, Tech, Financial, Labor Statistics, Hall, Today Locations: FTX's, New York City, San Diego, London, New York

☆ Roku forecasts quarterly revenue above estimates
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: 1 min

The Roku company logo is displayed on a building in Austin, Texas, U.S., October 25, 2021. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNov 1 (Reuters) - Roku (ROKU.O) forecast fourth-quarter revenue above Wall Street estimates on Wednesday, anticipating higher sales of its streaming devices and ad collections on signs of stability in the global economy. The streaming platform said it expected net revenue of $955 million. Analysts were expecting $952 million, according to LSEG data. Total net revenue grew 20% to $912 million in the quarter ended September 30, comfortably beating analysts' consensus estimate of $855.2 million, according to LSEG.

Persons: Mike Blake, Yuvraj Malik, Krishna Chandra Organizations: REUTERS, Thomson Locations: Austin , Texas, U.S, Bengaluru

☆ California wildfire, fueled by desert winds, forces evacuations
▼ + stars: | 2023-10-31 | by ( Omar Younis | ) www.reuters.com time to read: +2 min

[1/5] A firefighter works to extinguish the Highland Fire, a wind driven wildfire near Aguanga, California, U.S., October 31, 2023. REUTERS/Mike Blake Acquire Licensing RightsTEMECULA, California, Oct 31 (Reuters) - A Southern California wildfire fueled by desert winds burned 2,487 acres (1,010 hectares) and prompted evacuation orders for more than 4,000 people in Riverside County, officials said on Tuesday. The seasonal phenomenon occurs when dry desert air blows toward the ocean, creating a fire hazard in Southern California. Some 1,220 homes and 4,270 residents were under mandatory evacuation orders, with another 1,136 homes and 3,976 residents under evacuation warnings, Cal Fire spokesperson Thomas Shoots said. Southern California has had a mild fire year in 2023, after unusually heavy rainfall that included the first tropical storm to reach heavily populated areas in the state in 84 years.

Persons: Mike Blake, Thomas Shoots, Barb Bommarito, Robert Duke, Duke, Omar Younis, Daniel Trotta, Mary Milliken, Jonathan Oatis, Tom Hogue Organizations: REUTERS, Rights, Highland Fire, California Department of Forestry, Fire Protection, Fire, Cal Fire, Thomson Locations: Aguanga , California, U.S, Rights TEMECULA , California, Southern California, Riverside County, Santa, Temecula, Aguanga, Carlsbad , California

☆ Exclusive: Trucking firm prepares long-shot bid for Yellow, seeks US Treasury support
▼ + stars: | 2023-10-30 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +5 min

Jack Cooper officials, including Executive Chair Sarah Amico, have been talking with Biden administration officials in recent months to get support for extending the terms of the loan. The White House said it was referring all Jack Cooper stakeholder inquiries to the Treasury Department. Jack Cooper and the Teamsters union declined to comment. Yellow owns approximately 12,000 trucks and 35,000 trailers, along with hundreds of terminals, according to its bankruptcy court filing. Trucking firm Estes Express submitted a revised bid worth $1.525 billion in cash for Yellow Corp's shipment centers, topping a $1.5 billion bid from Old Dominion Freight Line (ODFL.O).

Persons: Mike Blake, Biden, Jack Cooper, Sherrod Brown, Republican Roger Marshall, Bernie Sanders, Trump, Jack Cooper's, Sarah Amico, Amico, Lael Brainard, Brendan Danaher, Bob Casey, Tammy Baldwin, Jarrett Renshaw, Dietrich Knauth, Heather Timmons, Matthew Lewis Organizations: U.S, Yellow, Jack Cooper Transport, Ford, Brotherhood of Teamsters, Senators, Republican, Treasury Department, Reuters, Yellow Corp, Treasury, Biden, Democratic, U.S . Senate, Teamsters, White, National Economic Council, Democratic U.S, Citadel, MFN Partners, Walmart, Trucking, Express, Old Dominion Freight, Thomson Locations: Mexico, San Diego , California, U.S, Georgia, Pennsylvania, Wisconsin, Nashville , Tennessee, Philadelphia, New York

☆ Matthew Perry's 'Friends' co-stars pay tribute to fallen cast mate
▼ + stars: | 2023-10-30 | by ( Steve Gorman | ) www.reuters.com time to read: +2 min

David Schwimmer, Lisa Kudrow, Matthew Perry, Courteney Cox Arquette, Jennifer Aniston and Matt LeBlanc of "Friends", appear in the photo room at the 54th annual Emmy Awards in Los Angeles, U.S., September 22, 2002. REUTERS/Mike Blake/File Photo Acquire Licensing RightsLOS ANGELES, Oct 30 (Reuters) - The five surviving co-stars of the hit 1990s television sitcom "Friends" paid tribute on Monday to their fallen cast mate, Matthew Perry, in a joint message lamenting his death two days earlier as an "unfathomable loss." The cause and manner of Perry's death are to be determined by the Los Angeles County Medical Examiner's Office, following completion of an autopsy with toxicology tests. Perry's death came one year after publication of his memoir, "Friends, Lovers, and the Big Terrible Thing," which chronicled his decades-long struggle with addition to prescription painkillers and alcohol. Reporting by Steve Gorman in Los Angeles; Editing by Lincoln Feast.

Persons: David Schwimmer, Lisa Kudrow, Matthew Perry, Courteney Cox Arquette, Jennifer Aniston, Matt LeBlanc, Mike Blake, Courteney Cox, Perry, Matthew, Chandler Bing, Steve Gorman, Lincoln Organizations: REUTERS, People, Los Angeles, Los Angeles County Medical, NBC, Thomson Locations: Los Angeles , U.S, Los Angeles, Los Angeles County, Manhattan

Peter Orszag, CEO of Financial Advisory, Lazard, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2023. Dealogic data showed that globally, investment banking revenue tumbled 16% in the third quarter from a year earlier. Those takeovers, alongside a nascent revival in initial public offerings (IPOs), should bolster investment banking revenues next year. Global investment banking revenue stood at $50 billion in the first three quarters of this year, 20% below the same period in 2022, according to Dealogic. Investment banking revenue will probably rise 5% to 10% next year for the largest banks, according to Mike Mayo, an analyst at Wells Fargo.

Persons: Peter Orszag, Lazard, Mike Blake, dealmaking, Orszag, Morgan Stanley's, Ted Pick, Morgan Stanley, Dealogic, Mike Mayo, Jane Fraser, Fraser, Jana Partners, Brian Moynihan, Goldman Sachs, David Solomon, Tatiana Bautzer, Lananh Nguyen, Svea Herbst, Bayliss, Megan Davies, David Gregorio Our Organizations: Financial Advisory, Milken, Global Conference, REUTERS, Wall, Exxon Mobil, Chevron CVX.N, Reuters, CNBC, Global, Investment, Wells, Citigroup, Exxon, Natural Resources, Barclays, News Corp, Frontier Communications, Bank of, Svea, Thomson Locations: Beverly Hills , California, U.S, dealmaking, Ukraine, East, Wells Fargo

☆ Southwest Airlines profit falls, expects higher deliveries from Boeing in 2023
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 26 (Reuters) - Southwest Airlines (LUV.N) reported a third-quarter profit on Thursday that fell about 30% on soaring labor and fuel costs and the budget carrier said it expects higher aircraft deliveries from Boeing (BA.N) in 2023. Last month, Southwest Airlines raised concerns about rising fuel costs and weaker leisure bookings in August, citing seasonality trends. Southwest expects fourth-quarter operating revenue per available seat mile, a proxy for pricing power, to decrease by 9% to 11% compared with last year. Southwest Airlines also forecast capacity to increase by 15% in the current quarter, once adjusted for the operational disruption faced by Southwest in December last year. Southwest Airlines reported a profit of $193 million, or $0.31 per share, in the third quarter, from $277 million, or $0.44 per share, a year earlier.

Persons: Mike Blake, workgroups, Bob Jordan, Shivansh, Shounak Dasgupta Organizations: REUTERS, Southwest Airlines, Boeing, U.S, Southwest, Boeing's, Thomson Locations: Kahului, Maui, Hawaii, U.S, Bengaluru

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