By Stephen Culp NEW YORK (Reuters) – Wall Street see-sawed and crude prices plunged on Monday as world factory data showed demand weakening under inflation pressures, while the looming possibility of recession curbed risk appetite. All three major U.S. indexes were last modestly lower on the first day of August, coming on the heels of…
By Svea Herbst-Bayliss BOSTON (Reuters) – Hedge fund Greenlight Capital said it took a new stake in Twitter last month as the social media company sued to force Elon Musk to buy the company even as the billionaire entrepreneur said he has changed his mind about the deal. Greenlight founder David Einhorn wrote to investors…
By Isla Binnie and Christoph Steitz MADRID/FRANKFURT (Reuters) – Wind turbine maker Siemens Gamesa is considering cutting around 2,500 jobs, or about 9% of its total, to recover from losses that have prompted its main shareholder to launch a takeover, two people familiar with the matter told Reuters. The cuts would reduce a workforce of…
(Reuters) – Cosmetics maker Estee Lauder Cos Inc is in talks to acquire luxury brand Tom Ford in what could be a $3 billion deal, the Wall Street Journal reported on Monday, citing people familiar with the matter. Estee Lauder and Tom Ford did not immediately respond to Reuters’ requests for comment. (Reporting by Deborah…
NEW YORK (Reuters) – Leasing volume for Manhattan office space reached a pandemic-era high in July, good news for the hard-hit New York office market, though the amount of space leased was still 11.6% less than the pre-pandemic average in 2019, data showed on Monday. Leasing activity in Manhattan, the premier U.S. office market, jumped…
By Ahmad Ghaddar LONDON (Reuters) – Oil prices are proving resilient to global economic recession fears and have outperformed major equity indices and the U.S. dollar so far this year as Western sanctions on Russia further limit supplies to an already tight market. The two major crude futures contractsare up about 30% so far this…
By Devik Jain and Aniruddha Ghosh (Reuters) -U.S. stock indexes were set to open lower on Monday following a strong rally last week on earnings optimism, with investors awaiting a factory activity data after similar surveys from China and the Eurozone fueled recession worries. The S&P 500 and the Nasdaq posted their biggest monthly percentage…
By Elizabeth Dilts Marshall NEW YORK (Reuters) -As high inflation forces Americans to spend more on gas and bills, young and low-income consumers are starting to feel financial pressure. Generation Z consumers and those with low credit scores are falling behind on credit card and auto loan bills and accumulating credit card debt at a…
HONG KONG (AP) — Chinese e-commerce firm Alibaba said Monday that it wants to keep its shares listed in both New York and Hong Kong, days after U.S. regulators included it in a list of companies that may be delisted for not complying with auditing requirements. The U.S. Securities and Exchange Commission has said foreign…
By Lawrence White LONDON (Reuters) – HSBC will pay some of its British workforce a one-off payment of 1500 pounds ($1,830) to help them deal with the cost of living, a memo seen by Reuters on Monday said. In doing so the bank became the latest British lender to boost staff pay, as the country…
