SHANGHAI (Reuters) -Telecoms giant Huawei Technologies has given its finance chief Meng Wanzhou, who returned to China in 2021 after nearly three years detention in Canada, the new rotating position of chairwoman, according to the company’s website. Meng, the daughter of Huawei founder Ren Zhengfei, will act as the company’s top leader and head Huawei’s…
By Lewis Krauskopf NEW YORK (Reuters) – As the U.S. stock market ends a rocky first quarter, investors are looking at what could support equities in the coming months – with high cash levels at companies one potential boost as executives deploy resources for share buybacks, dividends or deals. The S&P 500 posted its first…
By Jeffrey Dastin (Reuters) – The road to organizing Amazon’s first union in the United States was a long one for Christian Smalls. The 33-year-old had worked at Walmart, Target and Home Depot. A rapper early in his career, he gave up music to support twin children, and by 2015, he took a warehouse job…
By Aishwarya Nair (Reuters) – U.S. automakers on Friday reported a slump in first-quarter domestic sales, as the entire industry was slammed by chip shortages and disruptions to supply chains. Toyota, which in 2021 upstaged GM as the top-selling automaker in the United States, outsold the company in the first quarter on increased demand for…
By Howard Schneider WASHINGTON (Reuters) -Fear that the war in Ukraine would tilt the U.S. economy towards a 1970s-style bout of stagflation has given way to signs that Americans plan to keep traveling, returning to restaurants, and continuing a steady if still incomplete return to “normal.” The latest nonfarm payrolls report released Friday showed employers…
By Hilary Russ (Reuters) -The COVID-19 pandemic, labor shortage, Black Lives Matter movement and other social and economic forces have contributed to an uptick in high-profile union organizing across the United States including a victory on Friday at an Amazon.com Inc warehouse in New York City. Among U.S. wage and salary workers last year, 10.3%…
DETROIT (AP) — New-vehicle sales in the U.S. fell about 12% in the first quarter compared with a year ago, as the global computer chip shortage continued to slow factories amid high consumer demand. General Motors reported Friday that its sales were down 20% for the quarter, while Toyota sales were off 15%. Stellantis sales…
WASHINGTON (AP) — Solid hiring, strong wage gains and sharp price increases are drawing more Americans into the workforce. The trend, if sustained, would mean some long-awaited relief for businesses that have been desperate to fill jobs. The number of people either working or looking for work still hasn’t fully recovered from the mass layoffs…
By Koh Gui Qing NEW YORK (Reuters) -Government bond yields resumed their upward climb on Friday as a key part of the U.S. Treasury yield curve inverted once more on signs of persistent inflation, while falling oil prices ended the week with their sharpest weekly drop in two years. U.S. data released on Friday showed…
By Chuck Mikolajczak NEW YORK (Reuters) – The S&P 500 rose modestly to kick off the second quarter on Friday, as the monthly jobs report indicated a strong labor market and is likely to keep the Federal Reserve on track to maintain its hawkish policy stance. The Labor Department’s employment report showed a rapid hiring…
