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By Nate Raymond (Reuters) -The United States government has stopped taking applications for student debt relief, after a federal judge blocked President Joe Biden’s loan forgiveness plan, according to a notice on a government website. A judge in Texas who was appointed by former President Donald Trump ruled on Thursday that Biden’s plan to cancel …

U.S. stops taking student debt forgiveness applications after ruling Read More »

(Reuters) – TuSimple Holdings Inc’s former chief executive Cheng Lu is returning to the role, days after the self-driving trucking company fired his predecessor following an internal probe that showed some employees had ties and shared information with a China-backed firm. San Diego, California-based TuSimple also announced late on Thursday that it removed four independent …

TuSimple names new CEO, replaces ex-boss fired after probe into ties to Chinese firm Read More »

(Reuters) – The rouble firmed to a five-week high of near 60 versus the dollar in early trade on Friday, as oil prices jumped from a two-week low and the U.S. currency weakened across the board on slowing U.S. inflation data. The price of oil, Russia’s main export, was up sharply on hopes of easing …

Rouble firms towards 60 vs dollar amid jump in oil prices Read More »

By Noel Randewich (Reuters) – The S&P 500 .SPX and Nasdaq .IXIC jumped on Thursday, racking up their biggest daily percentage gains in over 2-1/2 years as a sign of slowing inflation in October sparked speculation the Federal Reserve might become less aggressive with interest rate hikes. Stocks in sectors across the board surged as …

Wall Street ends sharply higher on sign of cooling inflation Read More »

(Reuters) – Twitter owner Elon Musk told employees on Thursday that he is not sure how much run rate the company has and that bankruptcy is not out of the question, the Managing Editor of tech newsletter Platformer tweeted. Musk is participating in an all-hands meeting with Twitter employees, a source told Reuters. Twitter did …

Musk tells Twitter staff: Bankruptcy isn’t out of the question- Platformer Read More »

By Ann Saphir and Howard Schneider (Reuters) -For most of this year, Federal Reserve policymakers salted their speeches with new-to-central-banking words like “expeditious” and “front-loading” to underscore their rush to raise interest rates in the face of 40-year-high inflation. Now some of those same policymakers are reaching for a more familiar lexicon dating from a …

Fed officials embrace ‘gradual’ rate hikes, still aim high Read More »

TORONTO (Reuters) – The Ontario Teachers Pension Plan (OTPP) said on Thursday it had invested a total of $95 million to the troubled cryptocurrency exchange FTX and any financial loss from the exposure will have limited impact on the pension plan. OTPP, Canada’s No. 3 pension fund, said it made the investments in FTX International …

Ontario Pension says any loss from FTX investment to have limited impact Read More »

By David Shepardson WASHINGTON (Reuters) -A U.S. government watchdog said on Thursday it will review the Federal Aviation Administration (FAA) oversight of two safety features on the Boeing 737 MAX. The Transportation Department’s Office of Inspector General (OIG) said Thursday it will audit the FAA’s oversight of the inclusion of MCAS, a key airplane software …

U.S. watchdog will review FAA oversight of key Boeing 737 MAX features Read More »

(Reuters) – Corporate America is making deep cuts to its employee base as part of its restructuring efforts to navigate a potential downturn in the economy from the Federal Reserve’s war on inflation. Job cuts announced by U.S.-based employers jumped 13% to 33,843 in October, the highest since February 2021, a report said. Here are …

Factbox-Corporate America braces for downturn with job cuts Read More »