Business

Tyson Foods, Beyond Meat face off with new plant-based burgers

Tyson Foods Inc is launching plant-based hamburgers and sausages ahead of the summer grilling season, the company said on Monday, increasing competition for Beyond Meat as it releases an updated version of its own faux burger. Companies like Beyond Meat and Impossible Foods aim to meet consumer demands for more climate-friendly diets, but sales of […]

Business

Fidelity halves valuation of Ant Group after Chinese crackdown

U.S. asset manager Fidelity Investments has halved the valuation of its shares in Ant Group, the Chinese financial technology company at the centre of a major regulatory crackdown, the Wall Street Journal reported on Monday. The new valuation for the Jack Ma-founded company, which has been forced to restructure following scrutiny from Beijing, was $144 […]

Business

U.S. Supreme Court refuses to revive Wells Fargo accounts scandal suit

The U.S. Supreme Court on Monday rebuffed a bid by current and former employees of Wells Fargo & Co to revive a lawsuit over losses to their retirement plan following a scandal over fake accounts that rattled the bank in 2016 and led to billions of dollars in fines and penalties. The justices declined to […]

Business

Factbox-Canadian banks’ approaches to getting to ‘net-zero financing emissions’ by 2050

Some of Canada’s biggest banks have announced plans to achieve “net-zero financing emissions,” that is, reducing funding for emission-producing activities in their lending and underwriting books, by 2050. An outline of how they intend to get there. For a related story: ROYAL BANK OF CANADARBC said in February it aims to achieve net-zero emissions in […]

Business

Canada’s banks and investors face dilemma in meeting emissions target

Canadian banks’ commitments to “net-zero financed emissions” by 2050 have drawn doubts from many investors, given the lack of a defined goal, details and their continued support for oil and gas companies, even if partially aimed at helping them transition to alternatives. But their growing funding for green projects also presents a dilemma for shareholders […]

Business

EQT holds out hope for KPN after rejection, sources say, but shares slide

Sweden’s EQT is still interested in buying Dutch telecom KPN, two sources familiar with the matter said on Monday, even as shares in the company slid after it rejected the private equity firm’s takeover proposal. KPN said on Sunday the proposal by EQT AB and another by KKR of the United States, which it has […]

Business

Estee Lauder sales hit by lackluster demand for makeup, shares drop

Estee Lauder Cos Inc missed analysts’ estimates for quarterly sales on Monday, as weak demand for its luxury foundations and lipsticks offset growth at the cosmetics maker’s skincare brands, with people continuing to work from home. Lockdowns in certain parts of Western Europe also hampered demand for luxury makeup products, with Estee Lauder’s net sales […]