By Hyunjoo Jin SAN FRANCISCO (Reuters) -Tesla Inc CEO Elon Musk said on Wednesday that while he voted for Democrats in the past, he will now vote for Republicans. “In the past I voted Democrat, because they were (mostly) the kindness party. But they have become the party of division & hate, so I can …
Tesla’s Musk says he ‘can no longer support’ Democrats, ‘will vote Republican’ Read More »
(Reuters) – Under Armour Inc said on Wednesday Patrik Frisk would step down from his role as president and chief executive officer, effective June 1. Shares of the Baltimore-based company fell 2.2% in extended trade. The apparel maker named Chief Operating Officer Colin Browne as its interim CEO, while it searches for a permanent replacement. …
(Reuters) – Cisco Systems Inc cut its full-year earnings forecast on Wednesday after COVID lockdowns in China and the war in Ukraine dragged sales below estimates in the third quarter, sending shares down 13% in extended trading. Cisco is the latest U.S. company to lay out a hit to earnings from Beijing’s “Zero COVID” policy …
Cisco shares plunge after China lockdowns, Ukraine crisis hits outlook Read More »
By Jonathan Stempel NEW YORK (Reuters) – Martin Shkreli, the former pharmaceutical executive known for raising the price of a lifesaving drug more than 40-fold, has been released from prison, where he had been serving a seven-year term for fraud. The early release of the 39-year-old Shkreli from a low security prison in Allenwood, Pennsylvania …
Former pharmaceutical exec Martin Shkreli released from prison Read More »
By Noel Randewich and Amruta Khandekar (Reuters) – Wall Street ended sharply lower on Wednesday, with Target losing around a quarter of its stock market value and highlighting worries about the U.S. economy after the retailer became the latest victim of surging prices. It was the worst one-day loss for the S&P 500 and Dow …
Wall Street ends sharply lower as Target and growth stocks sink Read More »
By Ross Kerber and Hyunjoo Jin (Reuters) -An S&P Dow Jones Indices executive told Reuters on Wednesday it has removed electric carmaker Tesla Inc from the widely followed S&P 500 ESG Index because of issues including claims of racial discrimination and crashes linked to its autopilot vehicles, and Tesla CEO Elon Musk responded with harsh …
Tesla cut from S&P 500 ESG Index, and Elon Musk tweets his fury Read More »
By David Shepardson WASHINGTON (Reuters) -A special crash investigation has been opened into a fatal Tesla crash this month in California that resulted in three deaths, the U.S. transportation safety agency said on Wednesday. The crash, involving a 2022 model Tesla Model S, is one of more than 30 under investigation by the U.S. National …
U.S. agency opens probe into fatal Tesla crash that killed three Read More »
(Reuters) – Philadelphia Federal Reserve Bank President Patrick Harker on Wednesday said he believes the central bank can bring inflation down without sending the economy into a recession, in part because the labor market is currently strong. “We may have a few quarters of negative growth, but again, that’s not what I’m estimating, what I’m …
Fed’s Harker: soft landing possible, not forecasting recession Read More »
By Jonathan Stempel NEW YORK (Reuters) -A New York state agency has accused Amazon.com Inc in a complaint of discriminating against pregnant and disabled workers at its worksites, Governor Kathy Hochul said on Wednesday. Amazon was also accused of having policies requiring workers to take unpaid leaves of absence, even if they are capable of …
Amazon discriminates against pregnant and disabled workers, New York alleges Read More »
(Reuters) – Philadelphia Federal Reserve Bank President Patrick Harker on Wednesday said he expects the U.S. central bank to deliver two more half-point rate hikes before switching to quarter-point increments until the “scourge” of inflation is beaten back. With inflation at a 40-year high, the Fed has intensified its efforts to curb demand for goods …
Fed’s Harker sees 50 bps rate hikes in June, July, then ‘measured’ hikes Read More »
