By Jamie Freed (Reuters) -Hong Kong’s Cathay Pacific Airways Ltd said on Wednesday that long-serving executive Ronald Lam would take over as chief executive from Jan. 1, with current boss Augustus Tang set to retire, as the pandemic-hit airline rebuilds capacity. Lam, who joined Cathay in 1996, was previously the airline’s chief customer and commercial…
NEW YORK (Reuters) – Investors are expecting Republican gains in U.S. midterm elections, a result that could ease worries about Democratic spending and regulation but set up a bruising fight over raising the U.S. debt ceiling next year. The S&P 500 rose 0.56% on Tuesday during voting that will determine control of the U.S. Congress,…
Twitter said Tuesday it will add a gray “official” label to some high-profile accounts to indicate that they are authentic, the latest twist in new owner Elon Musk’s chaotic overhaul of the platform’s verification system. The site’s current system of using what are known as “blue checks” confirming an account’s authenticity will soon go away…
By Ankur Banerjee SINGAPORE (Reuters) – Asian shares rose and the dollar wobbled on Wednesday as investors awaited U.S. inflation data as well as the results of the U.S. midterm elections that could signify a power shift in Washington. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.45% higher, while Japan’s Nikkei rose 0.2%…
(Reuters) -Tesla Inc Chief Executive Officer Elon Musk has sold 19.5 million shares of the electric vehicle maker worth $3.95 billion, U.S. securities filings showed on Tuesday. The latest sale brings the total value of Tesla stocks sold by Musk to nearly $20 bln since he disclosed his stake in twitter in April. Musk sold…
By Sheila Dang and Fanny Potkin (Reuters) -Billionaire Elon Musk’s social media platform Twitter will introduce an “Official” label for select verified accounts including major media outlets and governments when it launches its new $8 premium subscription product, its early stage products executive Esther Crawford said on Tuesday. Crawford also confirmed that the revamped Twitter…
By Saqib Iqbal Ahmed, Carolina Mandl and Laura Matthews NEW YORK (Reuters) -Investors are expecting Republican gains in U.S. midterm elections, a result that will likely scale back Democratic spending and regulation but set up a bruising fight over raising the U.S. debt ceiling next year. Republicans are favored to win control of the House…
The Walt Disney Co. on Tuesday posted lower-than-expected profit and revenue for its fiscal fourth quarter even as its streaming services did well, sending its shares lower in after-hours trading. The company said it earned $162 million, or 9 cents per share, in the July-September quarter, nearly flat compared to $160 million, or 9 cents…
By Akash Sriram (Reuters) -Shares of Lucid Group Inc fell over 11% on Tuesday after the luxury electric vehicle maker said it had 3,000 fewer reservations in the third quarter amid an uncertain macroeconomic environment and as borrowing costs rise. The company said it had over 34,000 reservations in the quarter, down from 37,000 in…
By Hannah Lang and Tom Wilson WASHINGTON/LONDON (Reuters) -Crypto giant Binance signed a nonbinding agreement on Tuesday to buy FTX’s non-U.S. unit to help cover a “liquidity crunch” at the rival exchange, marking an abrupt change in fortune for the digital currency billionaire and FTX CEO Sam Bankman-Fried. The surprising deal between high-profile rivals Bankman-Fried…
