By Samrhitha A (Reuters) -GameStop fired CEO Matt Furlong two years after hiring him and appointed billionaire Ryan Cohen as executive chairman, sending the company’s shares down 20% in extended trading. A former executive at Amazon.com, Furlong joined GameStop in 2021, just months after the company was at the center of a “meme-stock” trading frenzy …
GameStop ousts CEO, names Ryan Cohen as executive chair Read More »
By David Shepardson (Reuters) -Some flights into the New York City area and Philadelphia on Wednesday were delayed and others briefly halted because of reduced visibility from wildfire smoke from Canada. The Federal Aviation Administration (FAA) was slowing traffic but lifted a groundstop on flights from the upper Midwest and East Coast bound for New …
Wildfire smoke from Canada disrupts New York, Philadelphia flights Read More »
(Reuters) – Air New Zealand on Thursday upgraded its guidance for earnings before other significant items and taxation for the 2023 financial year on the back of strong demand and a decline in jet fuel prices. The national carrier now expects earnings before other significant items and taxation for FY 2023 to be no less …
By Sinéad Carew (Reuters) – Shares in Amazon.com closed down 4.2% on Wednesday, leading declines in the S&P 500 consumer discretionary sector while video streaming companies Warner Bros Discovery and Paramount Global rallied. Amazon shares deepened losses after a Wall Street Journal report said the online retailer and video streamer is planning an advertising-supported tier …
Amazon leads declines in discretionary sector, streaming companies outperform Read More »
By Shubham Batra, Shristi Achar A and David Carnevali (Reuters) – The S&P 500 and Nasdaq closed in negative territory on Wednesday as investors took profits after a months-long megacap stocks run and ahead of key economic and policy events next week. The small-cap index Russell 2000 climbed 1.78% as investors kept moving away from …
S&P 500, Nasdaq close lower as traders cash in on latest megacap rally Read More »
By Jody Godoy (Reuters) -Determining whether digital tokens are securities will be central to the high-stakes case brought by U.S. regulators alleging crypto platforms Coinbase and Binance violated the law by failing to register as a securities exchange, broker and clearing agency. WHAT IS THE SEC ALLEGING? The Securities and Exchange Commission (SEC) sued Coinbase …
What makes a crypto asset a security in the U.S.? Read More »
(Reuters) – GameStop posted its fourth consecutive fall in quarterly revenue on Wednesday and missed market estimates, as consumers dialed back non-essential spending in an uncertain economy. The company reported revenue of $1.24 billion for the quarter ended April 29, compared with analysts’ average estimate of $1.36 billion, according to Refinitiv. (Reporting by Samrhitha Arunasalam …
By Leigh Thomas PARIS (Reuters) -Global economic growth will pick up only moderately over the next year as the full effects of central bank rate hikes are felt, softening the boost from lower inflation, the OECD said on Wednesday, nudging up its 2023 economic outlook. The world economy is set to grow 2.7% this year, …
OECD sees limited growth pick-up as rate hikes weigh Read More »
By Nia Williams (Reuters) -Canada’s TC Energy is cutting some jobs to “optimize value” a company spokesperson said on Tuesday, without giving details of how many positions have been impacted. News of the job cuts at TC Energy comes a week after Suncor Energy told employees it would eliminate 1,500 jobs. Earlier this year, Imperial …
(Reuters) -Electric vehicle startup Fisker has signed a deal to sell emission credits to a major automaker, looking to enter a market it is betting on to navigate a stormy economic environment and a price war sparked by Tesla. The announcement on Tuesday comes barely a month after Fisker lowered its 2023 production target and …
EV maker Fisker pushes into emission credit market to boost sagging business Read More »
