By Marcy deLuna HOUSTON (Reuters) – A California investor sued Tellurian Inc Chairman Charif Souki on Thursday, accusing him of fraud in relation to an agreement over Tellurian stock. Shareholder Chris Parker filed a breach of contract lawsuit with the U.S. District Court in Denver seeking unspecified damages from Souki, founder of the U.S. liquefied…
(Reuters) -Peloton Interactive Inc is temporarily halting production of its connected fitness bikes and treadmills after a significant drop in demand, CNBC reported on Thursday, citing internal documents from the company. Shares in the exercise bike maker, once a pandemic darling, closed down 24% at about $24, wiping off nearly $2.5 billion in market value….
WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen said on Thursday she was confident the Federal Reserve and the Biden administration would take steps needed to bring down inflation over the course of 2022, provided the COVID-19 pandemic is brought under control. “Inflation rose by more than most economists, including me, expected and of course it’s…
SACRAMENTO, Calif. (AP) — Two California counties violated the Constitution’s right to keep and bear arms when they shut down gun and ammunition stores in 2020 as nonessential businesses during the coronavirus pandemic, a federal appeals court ruled Thursday. Officials in Los Angeles and Ventura counties had separately won lower court decisions saying gun stores…
OMAHA, Neb. (AP) — CSX railroad’s fourth-quarter profit jumped 23% even though volume slipped amid the ongoing supply chain challenges. The Jacksonville, Florida-based railroad said Thursday it earned $934 million, or 42 cents per share. That’s up from $760 million, or 33 cents per share, a year earlier. CSX said the number of shipments it…
DETROIT (AP) — Two organizations that influence many Americans’ automobile buying decisions will begin rating vehicles on how well they track behavior of motorists who use partially automated driver-assist systems. Consumer Reports and the Insurance Institute for Highway Safety say the ratings will factor into scores for new models starting this year. Automobile buyers often…
SAN RAMON, Calif. (AP) — Netflix delivered its latest quarter of disappointing subscriber growth during the final three months of last year, a trend that management foresees continuing into the new year as tougher competition is undercutting the video streaming leader. The Los Gatos, California, company added 8.3 million worldwide subscribers during the October-December period,…
By Sheila Dang, Julia Love and Dawn Chmielewski (Reuters) – The success of Microsoft’s biggest deal ever rides on rehabilitating Activision Blizzard’s culture, Microsoft CEO Satya Nadella declared after announcing the $69 billion transaction. Accomplishing that will require Microsoft to deviate from its usual hands-off approach on acquisitions to tackle what amounts to a “clean…
By Stephen Culp NEW YORK (Reuters) – The dollar fluctuated but remained rangebound on Thursday as this week’s upward trajectory of U.S. Treasury yields took a breather. While the dollar initially edged lower following the release of disappointing economic data, the greenback reversed its losses after benchmark Treasury yields partially recovered in the wake of…
By Rajesh Kumar Singh CHICAGO (Reuters) – U.S. carriers American Airlines and United Airlines on Thursday said a recovery in passenger traffic was likely to resume in March after a blip caused by the Omicron coronavirus variant, but warned that the latest wave of the health crisis would keep their costs elevated this year. Texas-based…
