By Kevin Buckland TOKYO (Reuters) – Japan’s Nikkei share index, which has had a rollercoaster ride in the past year, is forecast to climb over 7% to 29,000 by end-2022, a level last seen at the start of January, according to analysts in a Reuters poll. Japan stocks have closely followed the fortunes of Wall…
TOKYO (Reuters) – Japan kept the overall view on its economy unchanged in May, saying it showed signs of improvement and removing a reference to the coronavirus in its headline assessment for the first time since the start of the pandemic. “The economy is showing signs of picking up,” the government said in its May…
By Stephen Culp NEW YORK (Reuters) – The S&P 500 and the Nasdaq finished in the red on Tuesday as worries that aggressive moves to curb decades-high inflation might tip the U.S. economy into recession dampened investors’ risk appetite. All three major U.S. stock indexes pared their losses in afternoon trading, with the blue-chip Dow…
(Reuters) – Ride-hailing firm Lyft Inc said on Tuesday it would slowdown hiring and assess budget cuts in some departments, joining rival Uber Technologies Inc in attempting to rein in costs. Lyft said no employee layoffs are planned and added it would grant special stock options to eligible employees. “We’re also being responsible about costs…
By Medha Singh and Lisa Pauline Mattackal (Reuters) – The crypto winter is into its ninth week and bitcoin can’t shake the chills. From technicals to turnover, market indicators are flashing red or amber for the biggest cryptocurrency, which has lost a third of its value in just two months. So what now? Bitcoin’s limited…
By David Shepardson and Joseph White WASHINGTON (Reuters) -Stellantis NV and Samsung SDI said on Tuesday they will invest more than $2.5 billion to build a new joint venture battery plant in Kokomo, Indiana as the Chrysler-parent ramps up electric vehicle production plans. Targeted to start in 2025, the plant aims to have an initial…
DETROIT (AP) — A class action lawsuit is accusing three automakers and a parts manufacturer of knowingly selling vehicles containing air bag inflators that are at risk of exploding. Two deaths and at least four injuries have been linked to such explosions. The federal lawsuit, filed Tuesday in San Francisco, names ARC Automotive Inc. of…
By Nivedita Balu and Medha Singh (Reuters) – Snap Inc shares plunged more than 40% and sparked a sector-wide selloff on Tuesday after a profit warning from the Snapchat parent signaled tough times ahead for the once-booming digital ad industry. The company was on track to lose $15 billion in market capitalization, while shares of…
WASHINGTON (Reuters) – The Federal Trade Commission said on Tuesday it had launched an inquiry into the ongoing shortage for infant formula in the United States and would examine the pattern of mergers and acquisitions in the formula market. The inquiry comes after a Feb. 17 recall by top baby formula maker Abbott Laboratories and…
More than 40 Democratic members of Congress are asking Google to stop what they see as the unnecessary collection and retention of people’s location data, arguing the information could be used to identify women seeking abortions. In a letter sent Tuesday to Sundar Pichai, the CEO of Google parent Alphabet Inc., the lawmakers express concern…
