By Fergal Smith TORONTO (Reuters) – Canada’s main stock index fell on Friday to close out its worst week in more than two years, as the energy sector continued its recent losing streak and offset gains by technology and consumer discretionary stocks. The Toronto Stock Exchange’s S&P/TSX composite index ended down 73.58 points, or 0.4%, …
TSX posts biggest weekly decline in two years as energy slides Read More »
(Reuters) – General Motors Co on Friday raised the price of its Hummer EV pickup truck by $6,250 as it seeks to mitigate higher commodity and shipping costs amid high demand for cars and trucks. The pickup, currently priced at about $80,000 to $110,000, has more than 77,500 existing bookings which will not be impacted …
GM hikes Hummer EV price by over $6,000 as commodity, shipping costs rise Read More »
By Andrea Shalal WASHINGTON (Reuters) – The White House will launch a summer-long initiative on Friday to encourage labor unions and industry to work together to train more workers for good jobs in the electric vehicle, broadband and construction sectors, senior administration officials said. The “Talent Pipeline Challenge” will encourage employers and state and local …
White House kicks off push to train more broadband, construction and EV workers Read More »
(Reuters) – Some Western companies have agreed to sell their Russian assets or hand them over to local managers as they scramble to comply with sanctions over the Ukraine conflict and deal with threats from the Kremlin that foreign-owned assets may be seized. The moves, part of a broader corporate exodus from the country, are …
Factbox: Companies sell their businesses in Russia Read More »
(Reuters) – President Joe Biden said a recession is “not inevitable” and he is confident the United States can overcome inflation, the Associated Press reported on Thursday. “First of all, it’s not inevitable,” Biden told AP in an interview. “Secondly, we’re in a stronger position than any nation in the world to overcome this inflation,” …
Biden says U.S. recession is not inevitable -AP interview Read More »
By Hannah Lang WASHINGTON (Reuters) -State securities regulators in Alabama, Kentucky, New Jersey, Texas and Washington are investigating crypto lender Celsius Network’s decision this week to suspend customer redemptions, Joseph Rotunda, enforcement director at the Texas State Securities Board told Reuters on Thursday. Officials met and began investigating the matter first thing Monday morning, Rotunda …
Exclusive-State securities regulators investigating Celsius accounts freeze Read More »
By Jody Godoy and Jonathan Stempel (Reuters) -Lyft Inc has reached a $25 million settlement to resolve shareholder claims that the ride-hailing company concealed safety problems, including sexual assaults by drivers, prior to its 2019 initial public offering. The preliminary all-cash settlement was filed on Thursday with the federal court in Oakland, California, and requires …
Lyft reaches $25 million settlement of claims it hid safety problems before IPO Read More »
NEW YORK (Reuters) – U.S. housing finance giant Freddie Mac said on Thursday the average contract rate on a 30-year fixed-rate mortgage rose by more than half a percentage point to 5.78%, the greatest one-week jump in 35 years. Rates on the most popular type of U.S. home loan surged after the Federal Reserve announced …
Rates on U.S. 30-year mortgages see biggest one-week increase since 1987 Read More »
By Fergal Smith TORONTO (Reuters) -Canada’s main stock index slumped on Thursday to its lowest level in 14 months and its currency weakened as investors grew more worried that aggressive central bank interest rate hikes would trigger a recession, weighing on corporate earnings. The Toronto Stock Exchange’s S&P/TSX composite index ended down 3.1% at 19,004.06, …
Canadian stocks fall most in 2 years, loonie dips on recession fear Read More »
By Hyunjoo Jin and Victoria Waldersee SAN FRANCISCO (Reuters) -Tesla has cut job postings by 14% since Chief Executive Elon Musk warned he was worried about the economy, needed to reduce staff and would pause hiring worldwide. Tesla’s actions are a concerning sign of the health of the global economy as markets contract, inflation soars …
Tesla cuts job openings since Elon Musk’s economic warning Read More »
