(Reuters) -An arbitrator on Friday reaffirmed Fox Corp’s right to acquire a nearly one-fifth stake in FanDuel, settling a longstanding dispute with the betting app’s owner, Flutter Entertainment Plc. The New York-based Judicial Arbitration and Mediation Services tribunal ruled that Fox has a 10-year option to acquire an 18.6% stake of FanDuel for $3.7 billion….
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks closed higher on Friday in volatile trade to snap a four-session losing streak as investors wrestled with a mixed jobs report and comments from Federal Reserve officials on the pace of interest rate hikes. The S&P 500 and the Nasdaq each rose as much as 2%…
(Reuters) – The Contra Costa County District Attorney on Friday said it has reached a settlement with Chevron Corp over a diesel spill into the San Francisco Bay from the company’s 245,271 barrel-per-day Richmond, California refinery last year. Officials did not release financial details of the settlement, and Chevron was not immediately unavailable for comment….
By Sheila Dang, Katie Paul and Paresh Dave (Reuters) -Twitter Inc started a major round of layoffs on Friday, alerting employees of their job status by email after barring the entrances to offices and cutting off workers’ access to internal systems overnight. The move follows a week of chaos and uncertainty about the company’s future…
By Lindsay Dunsmuir and Michael S. Derby (Reuters) – Four Federal Reserve policymakers on Friday indicated they would still consider a smaller interest rate hike at their next policy meeting, despite new data showing another month of robust job gains and only small signs of progress in lowering inflation. The United States added 261,000 jobs…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar slumped on Friday after the U.S. nonfarm payrolls report for October showed the world’s largest economy created more new jobs than expected, but also flashed signs of slowdown with the higher unemployment rate and lower wage inflation. The greenback initially rose immediately after the data, but…
By Ann Saphir (Reuters) – It is time for the Federal Reserve to shift to smaller interest rate hikes to avoid tightening monetary policy more than needed, and slow the pace further once risks become more “two-sided,” Chicago Fed President Charles Evans said on Friday. “From here on out, I don’t think it’s front-loading anymore,…
WASHINGTON (AP) — The solid U.S. jobs report for October underscores why the Federal Reserve needs to raise interest rates higher than it had previously forecast in order to control inflation, Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said Friday. In an interview with The Associated Press, Kashkari said that at the…
By Priyamvada C (Reuters) -Canadian auto parts maker Magna International Inc lowered its annual sales forecast after missing estimates for third-quarter profit on Friday, as supply chain snags and higher costs keep global vehicle production under pressure. Europe’s energy crisis has exacerbated power and logistics costs for auto firms, even as they reel from a…
(Refiles to fix day of week) (Reuters) – Russian President Vladimir Putin has signed a decree allowing Russian company Nefteservisnie Tekhnologii to acquire U.S. oilfield services provider Baker Hughes’ Russian assets, a Russian government document published on Friday showed. Baker Hughes announced in March that it was suspending new investments in Russia after Western countries…
