(Reuters) - Tyson Foods surpassed Wall Street expectations for second-quarter profit on Monday, as it begins to reap the benefits of shutting some chicken processing plants to reduce costs.
The biggest U.S. meat company by sales has shuttered six U.S. chicken plants since the start of last year, laid off corporate employees and announced plans to close a pork plant, in an attempt to rein in costs.
That helped it post adjusted earnings of... (continue reading...)
(Reuters) - Spirit Airlines forecast weak second-quarter revenue on Monday due to sluggish improvement in domestic demand and grounding of dozens of its aircraft.
The airline is among the most heavily impacted by issues with RTX's Pratt & Whitney Geared Turbofan engines, which have forced it to ground multiple aircraft and resulted in high labor expenses and reduced capacity.
The carrier estimates it will average about 25 grounded... (continue reading...)
(Reuters) - Allete said on Monday a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners would acquire the U.S. utility for $6.2 billion, including debt.
The partnership would pay $67 per share in cash for all outstanding common shares of Allete, a premium of nearly 19.1% to the company's closing share price on Dec. 4, a day before an exclusive Reuters report on a potential sale.
Reuters had reported,... (continue reading...)
LONDON (Reuters) -Scottish National Party (SNP) veteran John Swinney was confirmed the party's new leader on Monday and is set to succeed Humza Yousaf as the country's first minister after he emerged as the sole contender in the leadership race for a new premier.
"I am deeply honoured to have been elected as Leader of @theSNP. I will give all that I have to serve my Party and my Country," Swinney, who joined the party as a teenager in 1979, said on social... (continue reading...)
THE HAGUE (Reuters) - Defence lawyers for Bosnian Serb general Ratko Mladic, who is serving a life sentence for his role in the bloody 1992-95 war in Bosnia, are seeking his urgent release to Serbia on health grounds.
According a motion published on the U.N. court's website on Monday, they are petitioning judges to release the elderly general for treatment of an unnamed but potentially life-threatening condition.
Descriptions of the... (continue reading...)
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