Business

Fervo Energy raises $1.89 billion in US IPO

Tuesday, May 12 by SRN News

May 12 (Reuters) - Geothermal energy developer Fervo Energy said on Tuesday it has raised $1.89 billion in its upsized U.S. initial public offering, highlighting robust investor appetite for the listing. The Houston-based company sold 70 million shares at $27 apiece, securing a valuation of... Read More.

Brazil’s Lula scraps tax on imports under $50 before election

Tuesday, May 12 by SRN News

BRASILIA, May 12 (Reuters) - Brazil's President Luiz Inacio Lula da Silva on Tuesday signed an executive order to eliminate federal taxes on foreign purchases worth up to $50, reversing course on a highly unpopular levy as he gears up to seek re-election in... Read More.

JBS posts 56% drop in Q1 net profit amid challenges in North American operations

Tuesday, May 12 by SRN News

SAO PAULO, May 12 (Reuters) - Brazil's JBS, the world's largest meatpacker, posted a 56% decline in its first-quarter net profit on Tuesday, missing market estimates as the firm grappled with challenges across its beef and poultry operations in North America. The company, whose products... Read More.

US tariff refunds start rolling out as Oshkosh, Basic Fun report receiving payments

Tuesday, May 12 by SRN News

By Timothy Aeppel May 12 (Reuters) - Heavy-truck maker Oshkosh Corp and toy maker Basic Fun on Tuesday both said they had received partial payments of the refunds they had sought of the import tariffs they had paid under the Trump administration that were invalidated... Read More.

A timeline of the Baltimore bridge collapse that killed 6 people

Tuesday, May 12 by SRN News

The operator of the massive cargo ship that struck Baltimore's Francis Scott Key Bridge is now facing criminal charges for actions leading up to and after the crash that killed six people more than two years ago. The Dali container ship's power loss caused it... Read More.

SpaceX eyes global spaceports as Starship launch ambitions grow ahead of IPO

Tuesday, May 12 by SRN News

May 12 (Reuters) - SpaceX is scouting potential U.S. and overseas locations to build "spaceports", CEO Elon Musk said in a post on X on Tuesday, as the company prepares for a future in which its massive Starship rocket could launch thousands of times... Read More.

Brown-Forman rejects $15 billion acquisition approach from Sazerac, WSJ reports

Tuesday, May 12 by SRN News

May 12 (Reuters) - Jack Daniel's maker Brown-Forman has rejected the roughly $15 billion takeover offer from rival Sazerac, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. (Reporting by Neil J Kanatt in Bengaluru; Editing by Shailesh Kuber) Brought to... Read More.

GM’s restart date at Ohio battery plant uncertain

Tuesday, May 12 by SRN News

By Kalea Hall May 12 (Reuters) - A General Motors joint-venture battery company is bringing a small number of workers back to an idled electric-vehicle battery factory in Ohio this month, although plans for recalling hundreds of laid-off workers there remain uncertain. GM and its partner... Read More.

Exclusive-Meta U.S. employees organize protest against mouse tracking tech

Tuesday, May 12 by SRN News

By Katie Paul NEW YORK, May 12 (Reuters) - Meta employees distributed flyers at multiple U.S. offices on Tuesday to protest the company's recent installation of mouse-tracking software on their computers, according to photos seen by Reuters. The flyers encourage staffers to sign an online petition... Read More.

The Cannes Film Festival has started. Here are 5 things that happened on its first day

Tuesday, May 12 by SRN News

CANNES, France (AP) - The 79th Cannes Film Festival launched on Tuesday, marking the start of 12 days of nonstop premieres that will culminate May 23 with the presentation of the prestigious Palme d'Or. Here are five things that happened on Cannes' opening day:... Read More.

Current Weather

Fervo Energy raises $1.89 billion in US IPO

Brazil’s Lula scraps tax on imports under $50 before election

JBS posts 56% drop in Q1 net profit amid challenges in North American operations

US tariff refunds start rolling out as Oshkosh, Basic Fun report receiving payments

A timeline of the Baltimore bridge collapse that killed 6 people

SpaceX eyes global spaceports as Starship launch ambitions grow ahead of IPO

Brown-Forman rejects $15 billion acquisition approach from Sazerac, WSJ reports

GM’s restart date at Ohio battery plant uncertain

Exclusive-Meta U.S. employees organize protest against mouse tracking tech

The Cannes Film Festival has started. Here are 5 things that happened on its first day

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