By Noel Randewich (Reuters) – Twitter Inc’s stock surged on Tuesday after billionaire Elon Musk proposed to go ahead with his takeover of the social media platform at $54.20 per share. Twitter jumped over 22% to end at $52.00 after a securities filing showed Musk intends to go ahead with his April offer of $44 …
Twitter surges as Musk proposes going through with deal Read More »
By Michael S. Derby NEW YORK (Reuters) – Americans’ wages are losing ground to inflation at a steep rate, a report on Tuesday from the Federal Reserve Bank of Dallas said, a finding that offers some support for the central bank’s super-charged campaign to lower price pressures. “Despite the stronger wage growth due to the …
Dallas Fed says inflation surge badly eroding many American’s wage gains Read More »
(Reuters) – Celsius Network’s co-founder and chief strategy officer Daniel Leon has stepped down, the bankrupt crypto lender said on Tuesday, joining a wave of executive departures from beleaguered digital asset companies. The announcement comes a week after chief executive officer Alex Mashinsky’s resignation. Leon’s departure was first reported by CNBC. Hoboken, New Jersey-based Celsius …
Celsius co-founder and strategy head Leon resigns from bankrupt crypto lender Read More »
(Reuters) -Chipmaker Micron Technology said on Tuesday that it planned to invest up to $100 billion over the next 20-plus years to build a computer chip factory complex in upstate New York, in a bid to boost domestic chip manufacturing. The project, which Micron claims will be the world’s largest semiconductor fabrication facility, is expected …
Micron to invest up to $100 billion in semiconductor factory in New York Read More »
(Reuters) -Ray Dalio, the billionaire investor who built Bridgewater Associates into one of the world’s biggest hedge funds, has handed over control of the $150 billion firm to a new generation of investors, the firm said on Tuesday. Dalio has transferred his majority stake to the board but remains a “meaningful” owner of the fund, …
Ray Dalio gives up Bridgewater’s control as part of succession plan Read More »
(Reuters) – Workers at South Africa’s state-owned logistics firm Transnet will go on strike starting this Thursday over a wage dispute, two labour unions said, in a move that could halt the export of key minerals and other cargo. Transnet has been operating below capacity due to a shortage of locomotives, poor maintenance and vandalism …
S.Africa’s rail and port workers to strike this week over wages – unions Read More »
MOSCOW (Reuters) – A Russian court on Tuesday fined streaming service Twitch 4 million roubles ($68,000) for failing to remove an interview with a Ukrainian political figure, the Interfax news agency reported. Russian authorities said the interview violated Russian laws on the spreading of fake information. Twitch, which is owned by Amazon, did not immediately …
Russian court fines Amazon’s Twitch $68,000 over refusal to delete content Read More »
(Reuters) – Two blank-check companies backed by veteran investor Bill Foley, which together raised over $2 billion in their share sales, plan to shutter by the end of the year, the firm’s sponsors said on Monday, as market turmoil curbs appetite for deals. Austerlitz Acquisition Corp I and Austerlitz Acquisition Corp II, named after the …
Two SPACs backed by Bill Foley seek shareholder nod to liquidate Read More »
By Echo Wang (Reuters) – Wall Street’s three major indexes rallied to close over 2% on Monday as U.S. Treasury yields tumbled on weaker-than-expected manufacturing data, increasing the appeal of stocks at the start of the year’s final quarter. The U.S. stock market has suffered three quarterly declines in a row in a tumultuous year …
Wall Street closes with sharp gains as final quarter begins Read More »
By Noor Zainab Hussain (Reuters) -Insurers are bracing for a hit of up to $57 billion as they try to assess the damage from Hurricane Ian in Florida and South Carolina, risk modeling firm Verisk said on Monday. The industry projection includes estimated wind, storm surge, and inland flood losses resulting from Ian’s landfalls in …
Insurers may face up to $57 billion in Hurricane Ian bills Read More »
