OPEC+ Keeps Oil Curbs Despite Russia Price Cap

OPEC+ Keeps Oil Curbs Despite Russia Price Cap

OPEC+ said Sunday it would keep output steady ahead of a momentous week in global energy markets, as wealthy nations impose a price cap on Moscow’s petroleum exports, the European Union launches a ban on Russian oil and Chinese leader Xi Jinping visits Saudi Arabia. The decision on Sunday allows the Organization of the Petroleum … Read more

CVS Tries Out Remote System to Help Fill Prescriptions

CVS Tries Out Remote System to Help Fill Prescriptions

CVS Health Corp. CVS 0.91% is testing a system that allows pharmacists to process prescriptions in part remotely, a move it said could improve store working conditions and the experience for customers as the company grapples with a shortage of pharmacists. CVS has equipped roughly 8,000 of its more than 9,000 U.S. drugstores with technology … Read more

Delta Air Lines Offers Pilots 34% Raises Over Four-Year Deal

Delta Air Lines Offers Pilots 34% Raises Over Four-Year Deal

Delta Air Lines Inc. DAL 0.93% is offering pilots raises amounting to at least 34% over the term of a proposed deal, another sign of how pilots are pushing the now-booming airline industry for better pay and other benefits. The proposal still needs to be approved by union leaders and then would have to be … Read more

Apple Makes Plans to Move Production Out of China

Apple Makes Plans to Move Production Out of China

In recent weeks, Apple Inc. AAPL -0.34% has accelerated plans to shift some of its production outside China, long the dominant country in the supply chain that built the world’s most valuable company, say people involved in the discussions. It is telling suppliers to plan more actively for assembling Apple products elsewhere in Asia, particularly … Read more

Blackstone Limits Redemptions From Real Estate Vehicle, Stock Sinks

Blackstone Limits Redemptions From Real Estate Vehicle, Stock Sinks

Blackstone Inc. BX -7.09% shares took a big hit after the investing giant’s real-estate fund aimed at wealthy individuals said it would limit redemptions. Blackstone Real Estate Income Trust Inc., more commonly known as BREIT, said Thursday in a letter posted to its website that the amount of withdrawals requested in October exceeded its monthly … Read more

Blackstone Stake Sale Values MGM Grand, Mandalay Bay at $5.5 Billion

Blackstone Stake Sale Values MGM Grand, Mandalay Bay at .5 Billion

Blackstone Inc. has agreed to sell its 49.9% stake in two Las Vegas hotels in a deal that values the properties at $5.5 billion, marking one of the largest U.S. casino transactions this year. The New York investment firm is selling its stake in the MGM Grand Las Vegas and the Mandalay Bay to Vici … Read more

General Electric Sets Healthcare Division Spinoff Plans

General Electric Sets Healthcare Division Spinoff Plans

The planned spinoff of GE HealthCare Technologies is part of General Electric’s overall plan to split into three separate public companies. Photo: Charles Krupa/Associated Press Updated Nov. 30, 2022 9:03 pm ET General Electric Co. set the terms for the spinoff of its healthcare division, putting an initial value of roughly $31 billion on the … Read more

Hennes & Mauritz to lay off 1,500 workers, book restructuring charge of around $75.6 million

Hennes & Mauritz to lay off 1,500 workers, book restructuring charge of around .6 million

STOCKHOLM–Sweden’s Hennes & Mauritz AB said Wednesday that it expects to book a restructuring charge of just over 800 million Swedish kronor ($75.6 million) in the fourth quarter related to its cost-cutting program. The fashion retailer HM.B, +0.49% has previously outlined plans to reduce annual administrative and overhead costs by around SEK2 billion in a … Read more

Hennes & Mauritz to Book 4Q Restructuring Charge of Around $76 Mln

Hennes & Mauritz to Book 4Q Restructuring Charge of Around  Mln

By Dominic Chopping STOCKHOLM–Sweden’s Hennes & Mauritz AB said Wednesday that it expects to book a restructuring charge of just over 800 million Swedish kronor ($75.6 million) in the fourth quarter related to its cost-cutting program. The fashion retailer has previously outlined plans to reduce annual administrative and overhead costs by around SEK2 billion in … Read more

Fed’s shrinking of balance sheet via quantitative tightening is ‘a complete mistake,’ says Mizuho

Fed’s shrinking of balance sheet via quantitative tightening is ‘a complete mistake,’ says Mizuho

The Federal Reserve’s attempt at shrinking its balance sheet through so-called quantitative tightening, or QT,  is “a complete mistake,” according to Mizuho’s chief economist for the U.S. “There is a nontrivial probability that market liquidity will be adversely affected well before the targeted $2 trillion has been rolled off, preventing the Fed from accomplishing its … Read more