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(Reuters) -Electric-vehicle startup Faraday Future Intelligent Electric said on Friday it was planning a reverse stock split, as it looks to regain compliance with Nasdaq’s minimum bid price requirements. Nasdaq requires shares trade above $1 and sends a notice when a company trades below that mark for 30 consecutive business days. Companies then have a …

Faraday Future plans reverse stock split and delays EV deliveries Read More »

(Reuters) – Cryptocurrency infrastructure provider Wyre is winding down, feeling the pinch of dwindling interest in a market that was once hailed as the next frontier of finance. The decision, announced in a tweet on Friday, comes months after online checkout company Bolt Financial scrapped its planned $1.5 billion purchase of Wyre. Since then, the …

Wyre winding down as crypto winter bites Read More »

(Reuters) – Nikola said on Friday it would lay off a total of 270 employees, as the electric-truck maker looks to cut costs and sharpen its focus on the North American marketplace. Several firms have narrowed their focus on core markets after the U.S. Federal Reserve’s monetary policy tightening created tough economic conditions and prompted …

Electric-truck maker Nikola laying off 270 employees Read More »

By Howard Schneider WASHINGTON (Reuters) -U.S. Federal Reserve officials struck a hawkish tone in their first comments since the central bank held the policy interest rate steady at its meeting this week but signaled that rate hikes will likely resume. “Core inflation is not coming down like I thought it would,” Federal Reserve Gov. Christopher …

Fed policymakers deliver hawkish vibe after pause decision Read More »

By Helen Coster NEW YORK (Reuters) – Publisher Gannett plans to include generative artificial intelligence in the system it uses to publish stories as it and other news organizations begin to roll out the popular technology that may help save money and improve efficiency. But the largest U.S. newspaper publisher with over 200 daily outlets …

Gannett tiptoes into generative AI, giving humans the last word Read More »

By Sheila Dang (Reuters) -Twitter plans to focus on video, creator and commerce partnerships to revitalize the social media company’s business beyond digital advertising, according to an investor presentation by owner Elon Musk and new Chief Executive Linda Yaccarino that was reviewed by Reuters. Yaccarino, who started as CEO on June 5, told Twitter investors …

Exclusive-Twitter to focus on video, commerce in business revamp – investor presentation Read More »

By Jody Godoy (Reuters) – A U.S. judge considered whether the digital assets created by Terraform Labs were securities at a hearing on Thursday, a question central to the U.S. Securities and Exchange Commission’s fraud case against the company and its founder Do Kwon. Kwon and Terraform Labs were behind two cryptocurrencies whose implosion roiled …

U.S. judge considers whether Terraform Labs’ cryptocurrencies were securities Read More »

By Jan Strupczewski BRUSSELS (Reuters) – The European Central Bank should continue to raise rates to bring down inflation and euro zone governments should slash budget deficits to help it, and to create fiscal breathing space for later, the International Monetary Fund said on Friday. In a regular review of the economy of the 20 …

Euro zone needs still higher ECB rates, tighter fiscal policy -IMF Read More »

FRANKFURT (Reuters) – The German economy, Europe’s biggest, will shrink this year and inflation will stay above 2% at least through 2025, the Bundesbank said on Friday in a biannual update of its projections. The new forecasts came just a day after the European Central Bank lifted interest rates for the eighth straight time and …

Bundesbank sees German economy shrinking this year Read More »

By Dawn Chmielewski and Lisa Richwine (Reuters) – Walt Disney Co Chief Financial Officer Christine McCarthy is stepping down from her position to take family medical leave and will help search for a long-term successor, the company said on Thursday. Kevin Lansberry, currently chief financial officer for Disney’s parks, experiences and products division, will serve …

Disney CFO McCarthy to step down for family medical leave Read More »