Creditors could recover 32% of their debt in insolvency proceedings for Signa Prime, a unit of the collapsed Austrian property group Signa, according to a report from restructuring administrator Norbert Abel seen by Reuters on Wednesday.
The Italian government is holding talks with China’s Chery Auto as part of efforts to attract another major automaker to the country in addition to Stellantis and increase national car production, two sources told Reuters.
Wells Fargo on Wednesday said that it expects the U.S. Federal Reserve to start cutting interest rates in June, compared to its earlier expectation of a cut in May.
Dollar Tree missed Wall Street expectations for quarterly sales and profit on Wednesday and laid out plans to shutter 970 of its Family Dollar stores, as the retailer looks to revamp the struggling business.
Swedish music streaming company Spotify is rolling out full-length music videos in a limited beta launch for premium subscribers, venturing into an arena that YouTube has dominated for nearly two decades.
Volkswagen Group China said on Wednesday that the first model by its only majority-controlled joint venture, Volkswagen Anhui, has received Chinese government approval.
Eli Lilly said on Wednesday it has brought on Amazon.com’s pharmacy unit to deliver drug prescriptions sent to its direct-to-consumer service, LillyDirect.
The U.S. House of Representatives plans to vote on a bill on Wednesday that would give TikTok’s Chinese owner ByteDance about six months to divest the U.S. assets of the short-video app used by about 170 million Americans or face a ban.
U.S. stock index futures were subdued on Wednesday as investors awaited a slew of economic data this week, including producer prices and retail sales numbers, for hints on the Federal Reserve’s policy path.
