By Krystal Hu and Anirban Sen (Reuters) – Elon Musk told banks that agreed to help fund his $44 billion acquisition of Twitter Inc that he could crack down on executive and board pay at the social media company in a push to slash costs, and would develop new ways to monetize tweets, three people…
DETROIT (AP) — Elon Musk has sold 4.4 million shares of Tesla stock worth roughly $4 billion, most likely to help fund his purchase of Twitter. Musk reported the sale in a filing with the Securities and Exchange Commission on Thursday. The shares were sold over the past few days, at prices ranging from $872.02…
By Anshuman Daga SINGAPORE (Reuters) -Singapore lenders DBS Group and OCBC both reported 10% declines in quarterly profits, which still topped analysts’ estimates after record results a year ago, but their wealth management businesses suffered in weaker markets. “The market will also look ahead for signs, and see the beginnings of benefits on margin uplift,…
BANGKOK (Reuters) – The Thai unit of Toyota Motor Corp on Friday signed an agreement with Thailand on incentives to promote the use of electric vehicles in Southeast Asia’s major auto production base. The EV incentives include tax breaks and subsidies to help reduce the price of EVs to make them more affordable, the finance…
(Reuters) – The U.S. Office of the Comptroller of the Currency (OCC) lifted a 10-year-old consent order with Citigroup Inc, according to an internal memo from the bank viewed by Reuters. “We have worked very hard to remediate the issues identified in the OCC’s consent order by strengthening internal controls, independent testing and how we…
By Tom Westbrook SINGAPORE (Reuters) – The dollar held firm at a 20-year high on Friday and was poised to score its best monthly gain in a decade, buoyed by bets on rising U.S. interest rates and doubts about growth in Europe and China. The latest uptick was thanks to the Bank of Japan, which…
By Florence Tan SINGAPORE (Reuters) – Oil edged lower on Friday as China’s COVID-19 lockdowns weighed on the outlook for crude demand, although supply disruption fears as Western sanctions curb crude and products exports from Russia underpinned prices. Brent crude futures dipped 4 cents to $107.55 a barrel by 0040 GMT after rising 2.1% in…
By Paresh Dave and Nivedita Balu OAKLAND, Calif. (Reuters) -Apple Inc on Thursday forecast bigger problems as COVID-19 lockdowns snarl production and demand in China, the war in Ukraine dents sales and growth slows in services, which the iPhone maker sees as its engine for expansion. Shares were down 2.2% in late trade after executives…
By Anshuman Daga SINGAPORE (Reuters) -Singapore lenders DBS Group and OCBC both reported 10% declines in their quarterly profits from record performances a year ago, with their wealth management businesses hit by weaker markets. “Geopolitical developments in recent weeks have created macroeconomic headwinds and financial market volatility,” DBS Chief Executive Piyush Gupta, said in a…
OMAHA, Neb. (Reuters) – One of Berkshire Hathaway’s longest-serving directors on Thursday gave a full-throated endorsement to Greg Abel as designated successor to Warren Buffett when the billionaire steps down. “He has the total confidence not only of Warren, but the board,” Ronald Olson, a close confidante of Buffett and a Berkshire director since 1997,…
