Twitter shareholders sue Musk, say he ‘deflated’ stock price
Twitter shareholders have filed a lawsuit accusing Elon Musk of engaged in “unlawful conduct” aimed at sowing doubt about his…
May 2022
Illinois Officials Order Stay On Carvana’s Temporary License Suspension
(Reuters) – The Illinois Secretary of State’s office implemented a stay on Carvana Co’s temporary suspension, allowing the online used-car…
Gap Slashes Profit Forecast As Inflation Drains Demand, Costs Mount
(Reuters) – Gap Inc cut its annual profit forecast on Thursday, becoming the latest U.S. retailer to come under pressure…
Fed’s Brainard: We Can’t Take Global Status Of U.S. Dollar For Granted
By Lindsay Dunsmuir (Reuters) – The world is moving rapidly toward increasing use of digital payments and an official digital…
Fed May Pause Policy Tightening In September, BofA Says
NEW YORK (Reuters) – The Federal Reserve could pause its monetary policy tightening in September if there is an economic…
Sri Lanka PM stresses urgency for economic reform plan
COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister said Thursday that he will quickly prepare an economic reform program…
EY Plans Global Audit Spinoff – Financial Times
(Reuters) – Accounting firm Ernst & Young is planning to split its audit and advisory operations worldwide, the Financial Times…
Macy’s Raises Profit Outlook As Demand For High Fashion Picks Up
By Uday Sampath Kumar (Reuters) -Macy’s Inc raised its annual profit forecast on Thursday, helped by strong demand for high-margin…
Nippon Steel Sees Seamless Pipe Business Back In Profit Thanks To Increased Gas Drilling
By Yuka Obayashi and Ritsuko Shimizu TOKYO (Reuters) – Nippon Steel Corp, the world’s No.5 steelmaker, expects its seamless pipe…
West mulls having Russian oligarchs buy way out of sanctions
BERLIN (AP) — Western allies are considering whether to allow Russian oligarchs to buy their way out of sanctions and…