(Reuters) – Popular investor Cathie Wood’s ARK Invest bought nearly 10,000 shares of Reddit in the social media platform’s strong market debut on Thursday, an email from the asset manager showed. A total of 9,982 shares of the loss-making company was added to ARK Next Generation Internet ETF and ARK Fintech Innovation ETF, according to …
Cathie Wood’s ARK Invest scoops up nearly 10,000 Reddit shares in debut Read More »
(Reuters) – Star Entertainment’s chief executive and finance officer are stepping down, the beleaguered Australian casino operator said on Friday, as it faces a second inquiry into its Sydney operations. Chief Executive Officer Robbie Cooke, who is also the managing director, leaves immediately, while Chief Financial Officer Christina Katsibouba will be replaced by Neale O’Connell …
Australia’s Star Entertainment top brass steps down amid Sydney casino inquiry Read More »
By Sinead Cruise and Alexander Marrow LONDON (Reuters) -Some western banks are lobbying against EU proposals to redistribute billions of euros in interest earned on frozen Russian assets, senior industry sources said, fearing it could lead to costly litigation. European Union leaders on Thursday agreed to move ahead with work on a plan to use …
Western banks warn of risks in EU plan to grab Russian assets, sources say Read More »
By Jonathan Stempel (Reuters) -A divided U.S. appeals court said Meta Platforms must face a class action by advertisers that accused the Facebook and Instagram owner of overcharging them by fraudulently inflating the number of people their ads might reach. In a 2-1 decision on Thursday, the 9th U.S. Circuit Court of Appeals in San …
Meta Platforms must face advertisers’ class action, US appeals court says Read More »
By Lisa Baertlein (Reuters) -FedEx tightened its fiscal 2024 profit forecast on Thursday, raising the bottom end and lowering the top, as share buybacks and cost cuts offset a decline in demand from its largest customer, the U.S. Postal Service (USPS). Shares of the second-largest parcel delivery firm jumped 12% in after-hours trading. The company …
FedEx tightens 2024 profit forecast on cost cuts, shares jump 12% Read More »
(Reuters) -Lululemon Athletica forecast annual revenue and profit below expectations on Thursday, pressured by sluggish demand for the apparel retailer’s premium athleisure and accessories, sending its shares down 10% in extended trading. “Lululemon’s weaker-than-expected forecast highlights the retail sector’s struggle, with price pressures prompting consumers to cut back on luxury spending and trade down to …
Lululemon forecasts annual outlook below estimates, stock slumps 10% Read More »
(Reuters) -U.S. Senator Elizabeth Warren in a letter on Thursday urged the Securities and Exchange Commission to investigate whether Tesla violated regulations over board independence at public companies. “New evidence has emerged in recent months that deepen my concerns that Tesla’s board lacks independence from Mr. Musk, who uses his control over the board for …
Senator Warren urges SEC to investigate Tesla over board independence Read More »
By Laura Matthews and Sinead Cruise NEW YORK/LONDON (Reuters) – The looming introduction of a shorter settlement cycle for U.S. securities is causing headaches for international fund managers, who face staffing problems, the prospect of holding more cash and raised foreign exchange risk as they prepare to comply. Introduced to lessen the risks of unsettled …
Looming US stock changes could cause headaches for international funds Read More »
By Isla Binnie NEW YORK (Reuters) – The largest U.S. public pension fund plans to ask Exxon Mobil to drop a lawsuit against investors that filed a shareholder resolution asking the U.S. oil major to curb greenhouse gas emissions faster. California Public Employees’ Retirement System (CalPERS), which according to its most recent disclosure holds a …
CalPERS says Exxon should drop lawsuit against climate-conscious investors Read More »
HOUSTON (Reuters) -The U.S. government needs to streamline permitting for renewable energy projects, including development of power transmission infrastructure and grid connectivity, to support needed growth, executives said on Thursday at a conference in Houston. “It’s a tremendous issue,” said NRG interim CEO Larry Coben, pointing to difficulties around interconnection, the rules that new electricity …
US must speed permits to spur renewable energy growth, execs say Read More »
