Reuters USA

Fox Corp boosts buyback by $3 billion as World Cup powers earnings

(Reuters) -Fox Corp expanded its share buyback plan by $3 billion on Wednesday and surpassed second-quarter revenue estimates as the FIFA World Cup and the U.S. midterm election boosted the Rupert Murdoch-controlled company’s advertising business. Its shares rose 5% after the company’s first results report since Murdoch last month scrapped a plan to reunite Fox …

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Walmart wins lawsuit claiming its Fudge Mint cookies lack fudge and mint

By Jonathan Stempel (Reuters) – A federal judge in Chicago has dismissed a proposed class action lawsuit accusing Walmart Inc of deceiving shoppers by selling Fudge Mint cookies that lacked fudge and mint. Eugene DeMaso, of La Salle, Illinois, said packaging for the cookies sold under Walmart’s Great Value label misled reasonable consumers because the …

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Under Armour boosts profit forecast as discounts spur demand

By Ananya Mariam Rajesh (Reuters) -Under Armour Inc raised its annual profit forecast on Wednesday after quarterly results surpassed expectations thanks to resilient consumer spending and deep discounts that attracted holiday shoppers. Increased promotions offered during the all-important holiday season encouraged customers to look past recession worries and stock up on its athletic shoes and …

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Southwest CEO Jordan finds himself in eye of storm after airline’s holiday debacle

By Rajesh Kumar Singh CHICAGO (Reuters) – Bob Jordan, Southwest Airlines Co’s CEO, faces the biggest challenge yet in his 35-year career at the airline that has built a customer-friendly reputation. After a high-profile systems meltdown in late December that left thousands of U.S. passengers stranded and fuming, Jordan must guide the airline’s recovery from …

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Exclusive-Peru mines power on despite protests, though shutdown risk looms

By Alexander Villegas and Adam Jourdan ESPINAR, Peru (Reuters) – Peru’s biggest copper mines have been able to maintain production despite road blockades, attacks and protests that have roiled the Andean nation for over two months and led to warnings of production halts, an analysis showed on Wednesday. The analysis of power usage data by …

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Fed’s Williams: Financial conditions seem broadly consistent with the Fed’s outlook on policy

By Michael S. Derby NEW YORK (Reuters) – New York Fed President John Williams said financial conditions are roughly in line with what central bankers want to see. “We still have work to do” on raising rates but financial conditions look roughly in line with the likely outlook for monetary policy, Williams said at a …

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New York Times earnings beat estimates as it signs up more digital subscribers

(Reuters) -The New York Times Co beat Wall Street estimates for quarterly earnings on Wednesday as more people signed up for its digital subscription bundles, offsetting a slowdown in ad sales and helping the newspaper unveil a $250 million share buyback. The Times has in the past few years embarked on a bundling push, combining …

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