By Sinéad Carew, Shristi Achar A and Amruta Khandekar (Reuters) – The S&P 500 closed slightly higher on Friday but well below its session high and all three of Wall Street’s major averages posted weekly declines as investors worried about interest rates and waited anxiously for upcoming U.S. inflation readings. Investors worried about rising oil …
S&P 500 closes up slightly ahead of US inflation data Read More »
LOS ANGELES (Reuters) – Netflix Inc has reappointed former White House official and U.N. ambassador Susan Rice to its board of directors, the streaming service announced on Friday. Rice served on the Netflix board from 2018 to 2020 before taking a role in President Joe Biden’s administration as domestic policy adviser. “Susan made many valuable …
Netflix reappoints former ambassador Susan Rice to board Read More »
(Reuters) – A Nikola electric semi-truck caught fire near the company’s Phoenix headquarters in Arizona, it said on Friday, the second such incident this week involving the firm’s vehicle. The company’s shares fell about 15% to 88 cents, and are down nearly 55% since Nikola announced in August a recall of all battery-powered electric trucks …
Nikola semi-truck catches fire in second incident in a week Read More »
By Pete Schroeder WASHINGTON (Reuters) -The Federal Deposit Insurance Corp should have been more aggressive in policing First Republic Bank’s risk management prior to its May failure, but it was unclear if that would have saved it given the speed with which depositors yanked their money, the agency said. FDIC said in a report published …
FDIC says it should have supervised First Republic more closely Read More »
By Emily Chow and Lewis Jackson SINGAPORE/SYDNEY (Reuters) – Workers at Chevron’s liquefied natural gas (LNG) projects in Australia, which produce 5.1% of the world’s supply of the super-chilled fuel, went on strike on Friday after mediation talks ended without a deal. WHAT’S NEXT? Unions kicked off action with short work stoppages and bans on …
Explainer-Chevron Australia LNG workers start strike. What happens now? Read More »
By Chibuike Oguh NEW YORK (Reuters) – Shares of U.S. home furniture retailer RH dropped more than 15% on Friday after the company warned that slower quarterly sales would result in disappointing revenue. RH after the closing bell on Thursday forecast third-quarter revenue of $740 million-$760 million, below the average Wall Street analyst estimate of …
US furniture retailer RH shares tumble as slowing sales prompt dour revenue forecast Read More »
SHANGHAI (Reuters) – China’s yuan finished the domestic session on Friday at its weakest since the global financial crisis, hit by capital outflow pressures as the economy struggles. A growing yield gap with other major economies, particularly the United States, has also put fresh pressure on the yuan and a number of other emerging currencies. …
Yuan ends domestic session at weakest since 2007 as outflow pressure builds Read More »
By David Lawder WASHINGTON (Reuters) – The U.S. Treasury said on Friday it will provide guidance on additional clean energy tax incentives before the end of 2023, including a provision aimed at deterring companies from relying on Chinese supply chains. Lily Batchelder, the Treasury’s assistant secretary for tax policy, declined to provide reporters with specific …
US Treasury to issue more clean energy tax credit guidance by year-end Read More »
MOSCOW (Reuters) – A presiding judge at the Moscow Arbitration Court on Friday rejected a Goldman Sachs request to dismiss a $6.3 million lawsuit by Russia’s Otkritie, which is owned by state bank VTB. A lawyer for Goldman had argued on Thursday that the Moscow court had no jurisdiction and the case should instead be …
Russian court rejects Goldman request to dismiss Otkritie lawsuit Read More »
By Renju Jose and Lewis Jackson SYDNEY (Reuters) – Workers at Chevron’s liquefied natural gas (LNG) projects in Australia went on strike on Friday after talks broke down, potentially disrupting output from facilities that account for over 5% of global supply. No further talks were scheduled between the unions and the U.S. energy major, according …
Strikes start at major Chevron Australia LNG projects, no talks planned Read More »
