The Dow Jones Industrial Average and S&P 500 rose Thursday, as Wall Street tried to rebound from a long string of weekly declines. The Dow rose 195 points, or 0.6%. The S&P 500 climbed 0.3%. Nasdaq lost 0.1%. The Dow has fallen for the last eight weeks, while the S&P 500 and Nasdaq are riding … Read more
Sunak previously described the idea of a windfall tax on oil and gas majors as “superficially appealing” but a decision that would ultimately deter investment. Jonathan Brady – Pa Images | Pa Images | Getty Images LONDON — UK Finance Minister Rishi Sunak has imposed a windfall tax on oil and gas majors as the … Read more
Fears of an impending recession are forcing rapid grocery delivery companies to slam the brakes on growth. This week, two of the largest instant grocery apps, Getir and Gorillas, announced decisions to lay off hundreds of employees. Another firm, Zapp, said it is proposing redundancies in its UK team. Get told staff Wednesday that it … Read more
MOSCOW, Russia: The Russian central bank has cut its key interest rate by 300 basis points for a third time since its emergency hike in late February, citing cooling inflation and a recovery in the ruble. KIRILL Kudryavtsev | AFP | Getty Images The Central Bank of Russia on Thursday cut its key interest rate … Read more
Russian President Vladimir Putin delivers a speech during a ceremony honoring the country’s Olympians and Paralympians at the Kremlin in Moscow, Russia April 26, 2022. Maxim Shemetov | Reuters DAVOS, Switzerland — Russian President Vladimir Putin’s bargaining position is “not as strong as he intends” and Europe has leveraged against him, according to billionaire investor … Read more
A robot plays the piano at the Apsara Conference, a cloud computing and artificial intelligence conference, in China, on Oct. 19, 2021. While China revamps its rulebook for tech, the European Union is thrashing out its own regulatory framework to rein in AI but has yet to pass the finish line. Str | afp | … Read more
Steve Proehl | Corbis Unreleased | Getty Images Apple said on Wednesday that it will raise pay for corporate and retail workers later this year. The move comes during a historically tight labor market in the US and as employees contend with increased inflation and cost of living. Apple’s move comes after Google, Amazon and … Read more
Nvidia will slow down its hiring pace and control expenses as the company deals with a challenging macroeconomic environment, its CFO Colette Kress said after the company reported fiscal first-quarter earnings on Wednesday. Nvidia beat analyst expectations for sales and earnings, but the stock dropped more than 10% in extended trading at one point after … Read more
Elon Musk, during an event at SpaceX headquarters in Hawthorne, California, US, on Thursday, Oct. 10, 2019. Bloomberg /Getty A new filing reveals that Elon Musk plans to front $33.5 billion in his bid to take over Twitter. Musk is in talks with Twitter founder and former CEO Jack Dorsey and others to help finance, … Read more
Signage outside a McDonald’s Corp. fast food restaurant in Louisville, Kentucky, US, on Friday, Oct. 22, 2021. Luke Sharrett | Bloomberg | Getty Images McDonald’s shareholders meeting on Thursday morning will mark the climax of a proxy fight waged by activist investor Carl Icahn, who is pushing for two seats on the fast-food giant’s board … Read more