Category: Business

Dollar General Corp (DG.N) cut its annual profit forecast after it missed estimates for quarterly earnings, blaming cost pressures tied to its supply chain problems, sending its shares down as much as about 10% on Thursday. Tennessee-based Dollar General said it was seeing inefficiencies in its supply chain due to unexpected delays in acquiring additional […]

Blackstone Inc (BX.N) will sell its 49.9% stake in the joint venture that owns the MGM Grand Las Vegas and Mandalay Bay resorts to co-owner VICI Properties Inc (VICI.N) for about $1.27 billion in cash, the companies said on Thursday. The deal includes the assumption of Blackstone Real Estate Investment Trust’s (BREIT) existing property-level debt […]

Taiwan Semiconductor Manufacturing Co (2330.TW) will offer advanced 4-nanometer chips when its new $12-billion plant in Arizona opens in 2024, spurred by U.S. customers including Apple Inc (AAPL.O) to do so, Bloomberg News reported on Thursday. TSMC is expected to announce the new plan when U.S. President Joe Biden and Commerce Secretary Gina Raimondo visit […]

Continued client outflows at Credit Suisse (CSGN.S) could spark speculation of a takeover of the embattled Swiss bank and may lead to the partial sale of its domestic unit, analysts at JPMorgan said on Thursday. Credit Suisse has reported steep outflows as wealthy clients move assets elsewhere, while the bank battles to recover from a […]

The U.S. Commodity Futures Trading Commission (CFTC) chairman Rostin Behnam told lawmakers on Thursday that he met with former FTX chief executive officer Sam Bankman-Fried 10 times to discuss the company’s clearing house application. Behnam said he and his team met with Bankman-Fried and his FTX team 10 times over the past 14 months in […]

Altice USA Inc (ATUS.N) will retain its regional internet and cable business, Suddenlink, the broadband service operator said on Thursday, following a strategic review. The company, controlled by Franco-Israeli telecoms tycoon Patrick Drahi, had hired Goldman Sachs to run the divestment process, a source said, with the business likely fetching a valuation of $20 billion […]

German carmaker BMW (BMWG.DE) has invested in Jetti Resources, which has technology to extract more copper from low-grade resources and produce metal with a low carbon footprint, BMW said on Thursday. BMW and other automakers are forging deals to ensure supply of copper and other critical raw materials that may see shortages in coming years […]