By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks rebounded on Friday from sharp losses the day before on news of an improving consumer outlook on inflation, sending the Nasdaq to a fifth straight week of gains and record closing high. The Commerce Department said new orders for key U.S.-manufactured capital goods rebounded more than expected …
Stocks rebound to close higher but Dow down for the week Read More »
SAO PAULO/RIO DE JANEIRO (Reuters) -Brazilian state-run oil firm Petrobras said its board of directors on Friday approved the nomination of Magda Chambriard as the company’s new chief executive following the surprise announcement last week. Chambriard, a four-decade industry veteran, has already taken up her new position, Petrobras said in a securities filing. The incoming …
Brazil’s Petrobras approves Chambriard as new CEO Read More »
By Joseph Ax (Reuters) – Families of the victims of the 2022 elementary school shooting in Uvalde, Texas, filed two lawsuits on Friday against Instagram’s parent company Meta, Activision Blizzard and its parent Microsoft and the gunmaker Daniel Defense, claiming they cooperated to market dangerous weapons to impressionable teens such as the Uvalde shooter. Together, …
Families of Uvalde school shooting victims sue Meta, Microsoft, gunmaker Read More »
(Reuters) – GameStop made nearly $933.4 million by selling 45 million shares, the struggling videogame retailer said on Friday, sending its shares up more than 12% after the bell. The company largely relies on brick-and-mortar stores and has been grappling with customers turning to e-commerce firms for buying video games and collectibles. It had disclosed …
GameStop surges after fetching $933 million from stock sale Read More »
By Nora Eckert DETROIT (Reuters) -The United Auto Workers (UAW) union is seeking a new election at a Mercedes-Benz plant in Alabama after losing a vote there last week, according to a petition filed on Friday with the National Labor Relations Board. The union accused Mercedes of engaging “in a relentless anti-union campaign” including the …
UAW asks US board for new unionization vote at Mercedes’ Alabama plant Read More »
By Dan Burns (Reuters) – U.S. political independents, who typically occupy the center ground in a closely watched monthly survey of overall consumer attitudes about the economy, have drifted closer this year to the dour views held by Republicans, a potential warning sign for Democrats hoping to hold onto the White House in the Nov. …
US political independents drift closer to Republicans’ sour view of economy Read More »
By Michael Kahn PRAGUE (Reuters) – As foreign online grocery delivery rivals exit Germany, Czech Republic-based Rohlik Group is ramping up in Europe’s biggest economy and is on track to break even within the next 12 months, founder and chief executive Tomas Cupr told Reuters. The privately held company, valued at more than $1 billion …
Czech online grocer Rohlik ramps up German expansion as rivals quit Read More »
By Dietrich Knauth NEW YORK (Reuters) – FTX’s bankruptcy lawyers at Sullivan & Cromwell were not complicit in the fraud that caused the crypto company to collapse, a court-appointed examiner concluded on Thursday. Former FTX CEO Sam Bankman-Fried was convicted in November of stealing $8 billion from FTX customers. FTX creditors and investors had accused …
FTX bankruptcy lawyers were not complicit in fraud, report finds Read More »
By Dawn Chmielewski (Reuters) – The U.S. Justice Department on Thursday sued to break up Live Nation Entertainment, saying the big concert promoter and its Ticketmaster unit illegally inflated concert ticket prices, hurting artists and their fans. The average ticket price for one of the top concert tours reached $122.84 last year, up from $91.86 …
Explainer-Why U.S. concert tickets are so expensive Read More »
By Hannah Lang and Suzanne McGee (Reuters) -The U.S. Securities and Exchange Commission on Thursday approved applications from Nasdaq, CBOE and NYSE to list exchange-traded funds (ETFs) tied to the price of ether, potentially paving the way for the products to begin trading later this year. While the ETF issuers also have to get the …
US SEC approves exchange applications to list spot ether ETFs Read More »
