General News

By David Shepardson

WASHINGTON (Reuters) -Southwest Airlines said it had launched a compensation program for flight delays as part of a $140 million U.S. Department of Transportation settlement over the carrier's meltdown in December 2022 during a busy holiday travel period.

Southwest in December 2023 agreed over three years to provide $90 million in travel vouchers of $75 or more to passengers delayed at least three hours getting to final... (continue reading...)

By Jessica DiNapoli

NEW YORK (Reuters) - Impossible Foods, which makes meat alternatives from soy, is targeting a "liquidity event" that could include a public offering in the next two to three years, CEO Peter McGuinness told Reuters on Monday, as alternative meats fight to win back fickle consumers.

McGuinness said the food manufacturer was also considering a sale to another company or a capital raise in the same time period.

By Dietrich Knauth

NEW YORK (Reuters) - Shared office space provider WeWork announced on Monday a settlement with its junior creditors and a new cash infusion from its senior lenders, moving ahead with a bankruptcy deal that rejects a $650 million offer from co-founder and former owner Adam Neumann.

During a hearing in Newark, New Jersey, U.S. Bankruptcy Judge John Sherwood signed off on the New York-based, SoftBank-backed company... (continue reading...)

By Sinéad Carew

(Reuters) -Shares in Apple Inc closed up 2.5% on Monday after a well-known analyst at Bernstein Societe Generale Group upgraded the stock to an "outperform" rating, pointing to the prospects for phone replacement phone sales with help from generative artificial intelligence updates.

Apple registered its biggest one-day percentage gain in more than two weeks after the upgrade, which marked the stock's first "buy" equivalent... (continue reading...)

By Alden Bentley

(Reuters) -The U.S. Treasury said on Monday it expects to borrow $243 billion in the second quarter, $41 billion more than the January estimate largely due to lower cash receipts, partially offset by a higher cash balance at the beginning of the quarter.

The second-quarter financing estimate assumes a cash balance of $750 billion at the end of June, the Treasury said in a statement.

Attention now turns to... (continue reading...)