(Reuters) -Elon Musk said on Wednesday he will secure an additional $6.25 billion in equity financing to fund the $44-billion offer for Twitter Inc, reducing the billionaire’s margin loan to zero and signaling he is working to complete the deal. The world’s richest man and Tesla Inc’s top boss is also in talks with shareholders, …
Musk to provide $6.25 billion more in equity to fund Twitter deal Read More »
BOSTON (Reuters) – Index fund BlackRock and other major McDonald’s shareholders are backing the company in a boardroom vote that puts the fast-food chain on course to defeat investor Carl Icahn who sought to replace two directors and raise awareness about animal welfare, sources said on Wednesday. BlackRock, whose 4.6% stake ranks it as McDonald’s …
By Stephen Culp NEW YORK (Reuters) – Wall Street closed higher Wednesday, boosted after minutes from the Federal Reserve’s latest monetary policy meeting showed policymakers unanimously felt the U.S. economy was very strong as they grappled with reining in inflation without triggering a recession. The minutes from the Federal Open Market Committee’s May meeting, which …
Wall Street rallies as Fed minutes meet expectations Read More »
OTTAWA (Reuters) – The Biden administration is requesting that a second dispute settlement panel be formed under the U.S.-Mexico-Canada Agreement (USMCA) to review a trade dispute with Canada over dairy import quotas, it said on Wednesday. The United States alleges that Canada’s dairy tariff-rate quota allocations deny eligible U.S. applicants, including retailers, access to Canadian …
U.S. requests second dispute settlement panel on Canadian dairy quotas under USMCA Read More »
By Ross Kerber, Arriana McLymore and Eva Mathews BOSTON/NEW YORK (Reuters) -A majority of Amazon.com Inc shareholders on Wednesday voted against each of 15 investor-led resolutions that challenged the company’s policies – including its treatment of workers and use of nondisclosure agreements, an executive said at its annual meeting. The total number of investor resolutions, …
Amazon’s socially-focused shareholder proposals fall short at annual meeting Read More »
By Fergal Smith TORONTO (Reuters) – Canada’s main stock index is expected to advance less than previously thought this year as economic growth slows and central banks raise interest rates, a Reuters poll found. The median prediction of 26 portfolio managers and strategists was for the S&P/TSX Composite index to rise 4.4% to 21,183 by …
Bullish view on Canada’s TSX tempered as analysts fret about growth – Reuters poll Read More »
(Reuters) – The Russian rouble firmed past 56 against the dollar on Wednesday for the first time since 2018, and touched a seven-year high against the euro as export-focused companies sold foreign currency to pay taxes and traders shrugged off the expiry of a key debt payment licence. The United States said on Tuesday it …
Rouble firms to 4-yr high vs dollar as Russian debt payment licence expires Read More »
By Tina Bellon (Reuters) – When Jeff Wells placed a reservation for a Rivian R1T pickup in early 2019, he was one of the first in line for a truck from the Amazon.com Inc-backed electric vehicle startup that at the time promised to tap in to a niche not served by other automakers. But Wells, …
For EV maker Rivian, delivery headache hits as market shuts down coffers Read More »
By Nivedita Balu and Medha Singh (Reuters) – Snap Inc shares plunged more than 40% and sparked a sector-wide selloff on Tuesday after a profit warning from the Snapchat parent signaled tough times ahead for the once-booming digital ad industry. The company was on track to lose $15 billion in market capitalization, while shares of …
Oh Snap! Social media stocks lose billions after Snapchat parent warning Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Demand for the Federal Reserve’s reverse repurchase (RRP) facility has surged in the last few weeks, as the U.S. Treasury Department’s reduced supply of short-term bills left investors few options to park excess cash. Reverse repos are conducted by the New York Fed’s Open Market Trading Desk. In …
Record U.S. reverse repos highlight problem of investing excess cash Read More »
