(Reuters) – Pinterest Inc will end leases of certain office spaces as part of a restructuring plan, the image-sharing platform said on Monday, in addition to about 4% workforce reduction it started last month. U.S. companies from technology to finance have stepped up cost cuts as they brace for a potential recession. Pinterest said it …
Pinterest to reduce office spaces as part of restructuring Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – The S&P 500 ended slightly higher on Monday as a deal for Silicon Valley Bank’s assets helped to boost bank shares, while a decline in technology-related stocks limited the day’s gains. The S&P 500 banks index rose 3.1%, while the KBW regional banking index ended up 0.6%. JPMorgan …
S&P 500 ends up slightly; SVB deal lifts bank shares Read More »
By Chris Prentice and Pete Schroeder WASHINGTON (Reuters) – A U.S. banking regulator is investigating potential misconduct on the part of executives and others involved in the failures of Silicon Valley Bank and Signature Bank. Federal Deposit Insurance Corporation Chairman Martin Gruenberg said in prepared testimony to Congress that the agency had begun investigations into …
U.S. banking regulator has begun misconduct probes in Signature, SVB failures Read More »
By Jonathan Stempel NEW YORK (Reuters) – A newly fired Fox News producer is seeking to recant testimony she said network lawyers coerced her into providing as Fox defends against Dominion Voting Systems’ $1.6 billion defamation lawsuit. Abby Grossberg said Fox’s lawyers left her feeling she “had to do everything possible to avoid becoming the …
Newly fired Fox News producer seeks to recant testimony in $1.6 billion Dominion lawsuit Read More »
By Joseph White and David Shepardson DETROIT (Reuters) – Shawn Fain, the new president of the United Auto Workers union, on Monday said he is ready to go to war against “employers who refuse to give our members their fair share.” Fain spoke to a gathering of local union leaders in Detroit after being declared …
U.S. auto union leader promises fight to get workers a ‘fair share’ Read More »
By Nate Raymond (Reuters) -The U.S. Supreme Court on Monday declined to hear a disbarred environmental lawyer’s challenge to his criminal contempt conviction after he earlier won but was unable to collect a $9.5 billion judgment against Chevron Corp over oil pollution in Ecuadorian rainforests. The court turned away an appeal by Steven Donziger, who …
U.S. Supreme Court lets Chevron foe Donziger’s contempt conviction stand Read More »
By Fergal Smith (Reuters) -Canada’s main stock index rose on Monday, helped by gains for energy and financial shares, as oil prices surged and investors grew hopeful that recent turmoil in the global banking sector could be contained. The Toronto Stock Exchange’s S&P/TSX composite index ended up 123.25 points, or 0.6%, at 19,624.74. Equity markets …
TSX rallies as oil jumps, banking crisis fears ease Read More »
(Reuters) – Electric-truck maker Nikola Corp said on Monday Kim Brady will retire as chief financial officer on April 7 and insider Anastasiya Pasterick will take over the role. Pasterick was key in taking the company public through a merger with a blank-check firm in 2020, the company said. Brady will remain employed with Nikola …
Nikola names insider Anastasiya Pasterick as finance chief Read More »
By Lawrence Delevingne (Reuters) – First Republic Bank became the epicenter of the U.S. regional banking crisis after the wealthy clients it courted to fuel its breakneck growth started withdrawing deposits and left the bank reeling. Wall Street’s top banks, led by JPMorgan Chase & Co, have been trying for more than a week to …
How First Republic’s courtship of the wealthy led to meltdown Read More »
(Reuters) – Some parts of Twitter Inc’s source code have been leaked and the social media platform owned by billionaire Elon Musk is seeking information on the person responsible, a legal filing showed. According to the filing, “various excerpts” of Twitter’s source code, which is used to run the company online, were posted on Github, …
Parts of Twitter source code leaked online, court filing shows Read More »
