Business

Naomi Osaka and LeBron James launch new media company

Japanese tennis player Naomi Osaka is launching a new media company in partnership with four-times NBA champion LeBron James aimed at telling stories that cross cultural barriers, the former world number one announced on Tuesday. Hana Kuma, which translates to “flower bear,” will produce stories that are “culturally specific but universal to all audiences” and […]

Business

Oil ticks higher on strong demand, tight supply

Oil prices edged up on Tuesday on high summer fuel demand while supplies remained tight because of sanctions on Russian oil after its invasion of Ukraine. Brent crude futures settled 52 cents, or 0.5%, higher at $114.65 a barrel. The U.S. West Texas Intermediate (WTI) crude contract for July expired on Tuesday, closing at $110.65, […]

Business

Tesla sued by former employees over ‘mass layoff’

Former Tesla Inc (TSLA.O) employees have filed a lawsuit against the U.S. electric car company alleging its decision to carry out a “mass layoff” violated federal law as the company did not provide advance notice of the job cuts. The lawsuit was filed late on Sunday in Texas by two workers who said they were […]

Business

Tesla worker rejects $15 mln payout in race bias lawsuit

A Black former elevator operator at Tesla Inc’s (TSLA.O) flagship California assembly plant on Tuesday rejected a $15 million award in his lawsuit alleging racial abuse by coworkers, opening the door for a new trial after a judge slashed a $137 million jury verdict. Lawyers for Owen Diaz, who had sued Tesla in 2017, turned […]

Business

Portugal picks companies for $8 bln investment in green projects

Portugal has picked 51 consortia to invest a total of 7.57 billion euros ($8 billion) in green and other innovative projects over the next four years as part of the European Union’s recovery programme. Prime Minister Antonio Costa said on Tuesday the selected projects would be able to use 3 billion euros in grants from […]

Business

Kellogg to focus on snacks with surprise three-way split

Kellogg (K.N) said on Tuesday it would split into three independent companies, in the latest U.S. corporate overhaul aimed at simplifying its structure and sharpening its focus on the snack business. Shares of the company, which began life in 1894 when W.K Kellogg created Corn Flakes and became known around the world for its breakfast […]

Business

Mondelez to buy energy bar maker Clif Bar for about $3 billion

Mondelez International Inc (MDLZ.O) said on Monday it will buy energy bar maker Clif Bar & Company for $2.9 billion to expand its global snack bar business. The Cadbury maker will also pay additional amounts to the sellers depending upon its earnings from Clif Bar, Mondelez said. The company said it will get the Clif, […]