Category: Business
-
From prized startup to bankruptcy: WeWork’s tumultuous path
(Reuters) – WeWork, the SoftBank Group-backed startup, sought U.S. bankruptcy protection on Monday after its bets on companies using more of its office-sharing space soured. Below is a timeline of WeWork developments since mid-2019: Aug 2019 WeWork filed for an IPO and published detailed financial statements that showed it lost almost $700 million in the…
-
Musk to integrate xAI with social media platform X
(Reuters) -Elon Musk’s artificial intelligence startup xAI will be integrated into his social media platform X and also be available as a standalone app, he said on Sunday in a post. The billionaire also said xAI released its first AI model, a bot named Grok, after making it available to all X Premium+ subscribers on…
-
Factbox-More automakers plug into Tesla’s EV charging network
(Reuters) – More automakers signed up to access Tesla’s electric-vehicle charging infrastructure across the United States, taking the Elon Musk-led company’s superchargers closer to becoming the industry standard. Texas has approved a plan to require EV charging companies to include Tesla’s plug if they want to be eligible for federal funds. Tesla’s North American Charging…
-
U.S. investors rebuff big oil climate shareholder resolutions
LONDON (Reuters) – Big U.S. investors at the top five western oil firms’ shareholder meetings this year rebuffed an activist group’s resolutions to align their emission targets with the Paris climate pact, in contrast to some European peers, voting data showed. Netherlands-based activist group Follow This was created first to target Shell and subsequently expanded…
-
Disney taps PepsiCo veteran Johnston as CFO
(Reuters) – Walt Disney on Monday hired PepsiCo veteran Hugh Johnston as its chief financial officer, strengthening top boss Bob Iger’s hands as he tries to turn around the media giant facing a decline in its cable business and investor pressure. The conglomerate is in the middle of a restructuring that aims to make its…
-
Exclusive-Elon Musk’s X restructuring curtails disinformation research, spurs legal fears
By Sheila Dang (Reuters) -Social media researchers have canceled, suspended or changed more than 100 studies about X, formerly Twitter, as a result of actions taken by Elon Musk that limit access to the social media platform, nearly a dozen interviews and a survey of planned projects show. Musk’s restrictions on critical methods of gathering…
-
Take Five: You (may) have arrived at your destination
LONDON (Reuters) -This week will have plenty to keep financial market traders and investors busy, including whether the Federal Reserve really has hit peak rates, another possible rate rise in Australia, a batch of European bank earnings and the continuing conflict in Gaza. Here’s your week-ahead primer from Marc Jones and Dhara Ranasinghe in London,…
-
Marketmind: Rate cut prospects fuel stock rally
By Wayne Cole (Reuters) – A look at the day ahead in European and global markets from Wayne Cole. It’s been an upbeat start to the week in Asia as markets cast aside concerns about rate hikes, and go straight to pricing in early cuts. All the major equity indices are well into the green…
-
Stocks jump, dollar and yields drop after US jobs market softens
By Caroline Valetkevitch NEW YORK (Reuters) – Global stock indexes rose sharply, the U.S. dollar dropped to a six-week low and benchmark 10-year U.S. Treasury yields fell to five-week lows on Friday after data showed U.S. job growth slowed more than expected in October. The job growth slowdown underscored views that the Federal Reserve may…
-
Apple ticks lower after warning of dull holiday quarter
By Aditya Soni (Reuters) -Apple shares on Friday pared losses that were driven by its forecast for a subdued holiday quarter after a U.S. jobs report bolstered hopes of a pause in interest rate hikes by the Federal Reserve. The stock was down 1.5% in early trading, having fallen more than 3% before the bell.…