(Reuters) – The World Economic Forum announced on Tuesday that it has launched an investigation into its founder, Klaus Schwab, following a whistleblower letter alleging misconduct by the former chairman. The announcement came a day after the 87-year-old Schwab said he was resigning as chairman, effective immediately, without stating a reason. The Wall Street Journal, …
(Reuters) -Tesla CEO and billionaire entrepreneur Elon Musk has a long history of making ambitious promises and often delivering late. Many of his biggest ideas are still in the works. Musk has described himself as pathologically optimistic, saying he does deliver in the end, “which is the important thing”. His ambition and success with electric vehicles …
Factbox-Tesla CEO Elon Musk dreams big but often delivers late Read More »
By Sheila Dang and Ernest Scheyder HOUSTON (Reuters) – ConocoPhillips, a top U.S. oil and gas producer, plans to cut staff, the company said on Tuesday, amid a broad push to rein in costs and streamline operations after its $23 billion buyout of rival Marathon Oil. The job cuts are the latest sign of pain …
ConocoPhillips plans layoffs as part of broad restructuring Read More »
By Jonathan Stempel (Reuters) -Florida sued Snap, the owner of photo-sharing app Snapchat, on Tuesday, accusing it of illegally employing features that addict children and opening accounts for children age 13 and younger. The complaint said Snapchat features including infinite scrolling, push notifications, auto-play videos, and metrics that provide user feedback violate a 2024 state …
Florida sues Snapchat owner for allegedly addicting children, deceiving parents Read More »
(Reuters) -Federal Reserve Governor Adriana Kugler said on Tuesday that with U.S. import tariffs significantly larger than expected and likely to put upward pressure on prices, the central bank ought to keep short-term borrowing costs unchanged until inflation risks recede. Kugler said she is carefully watching how the Trump administration’s trade, immigration, fiscal policy and …
Fed’s Kugler, citing inflation risks, supports steady policy rate Read More »
By Shariq Khan NEW YORK (Reuters) -Oil prices settled more than $1 per barrel higher on Tuesday as new U.S. sanctions against Iran and rising equity markets helped spark a recovery rally from the prior session’s steep selloff. Brent crude futures rose $1.18, or 1.8%, to settle at $67.44 per barrel. The U.S. West Texas …
Oil prices settle up nearly 2% on new Iran sanctions, equities rally Read More »
By David Shepardson WASHINGTON (Reuters) -A coalition of U.S. auto industry groups on Tuesday urged President Donald Trump not to impose 25% tariffs on imported auto parts, warning they would cut vehicle sales and raise prices. Trump said earlier he plans to impose tariffs of 25% on auto parts no later than May 3. “Tariffs …
US auto industry warns new auto parts tariffs will hike prices, cut sales Read More »
(Reuters) -Solar inverter maker Enphase Energy on Tuesday missed analysts’ estimates for first-quarter profit, hit by softening U.S. demand, and forecast second-quarter revenue below market estimates. Shares dropped 12.5% in after market trading. The company’s battery shipments rose in the reported quarter from a year earlier, but fell short of analysts’ expectations as softening demand …
Enphase Energy misses quarterly profit estimates, forecasts weak Q2 revenue Read More »
WASHINGTON (Reuters) – Paul Atkins, who previously served as a U.S. Securities and Exchange Commission member from 2002 to 2008 and was seen as a business-friendly lawyer, was sworn in on Monday as the SEC chairman, the regulator said in a statement. (Reporting by Kanishka Singh in Washington; Editing by Sandra Maler)
By Caroline Valetkevitch NEW YORK (Reuters) -U.S. stocks rebounded on Tuesday from the previous day’s selloff as investors focused on earnings, while the dollar rose after U.S. Treasury Secretary Scott Bessent said in a closed-door meeting that he believes there will be a de-escalation in U.S.-China trade tensions. U.S. Treasury long-term yields dipped after moving …
Stocks rebound, dollar gains; earnings, U.S.-China tariff talks in focus Read More »
