(Reuters) – Gap Inc on Thursday launched non-fungible tokens (NFTs) of its iconic hoodies, sending the apparel maker’s shares about 5% higher as it became the latest major retailer to dive into the world of speculative crypto assets. The more than 50-year-old company’s push to sell virtual assets for real money follows similar moves by…
By Koh Gui Qing NEW YORK (Reuters) – Nervous global stock markets floundered on Thursday as bond yields steadied and the dollar wilted, after the highest U.S. inflation reading in nearly 40 years kept concerns about price pressures and monetary policy risks alive. Indeed, data released on Thursday that pointed to rapidly tightening U.S. labor…
MADRID (Reuters) – Spanish billionaire and Zara founder Amancio Ortega has agreed to buy a landmark Canadian skyscraper for around 800 million euros ($916.88 million), according to his private office. Pontegadea, the family office of the main shareholder of fashion group Inditex, on Thursday confirmed the deal to buy Toronto’s Royal Bank Plaza, which was…
(This Jan 6. story corrects second paragraph to reflect that Ultra Cruise will work for 95% of driving scenarios, not 95% of roads) By Stephen Nellis (Reuters) – General Motors on Thursday said a trio of chips from Qualcomm Inc will power the “Ultra Cruise” driver-assistance feature on a luxury Cadillac sedan next year. The…
AMSTERDAM (Reuters) – Pieter Elbers, the chief executive of KLM, the Dutch arm of Air France-KLM, will not serve a third term, the company said on Thursday. Elbers, 51, is a 30-year veteran of the company who oversaw restructurings at KLM before and during the coronavirus pandemic. The company said he will step down as…
(Reuters) -Navient Corp, one of the largest U.S. student loan companies, has reached a $1.85 billion settlement with most U.S. states to resolve accusations it steered borrowers into predatory loans and costly repayment packages. The accord with 38 U.S. states and Washington, D.C. resolves several lawsuits into practices dating back many years, including when Navient…
LONDON (Reuters) – Global securities regulators began reviewing on Thursday whether to toughen up operational resilience at exchanges and other market infrastructure in light of the extreme trading volatility in 2020 when economies went into lockdown to fight the pandemic. While much trading is already electronic, the curbs led to the New York Stock Exchange…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar extended its fall against a basket of currencies on Thursday to a two-month low, a day after data that showed an expected surge in U.S. consumer prices in December fell short of offering any new impetus for the Federal Reserve’s policy normalization efforts. The U.S. Dollar…
By Bansari Mayur Kamdar (Reuters) -U.S. stock index futures rose on Thursday after weaker-than-expected producer price data eased concerns about a faster pace of interest rate hikes from the Federal Reserve, while Delta Air Lines led gains among carriers on strong earnings. The producer price index increased 0.2% last month, below the 0.4% expectation, after…
By Hernan Nessi BUENOS AIRES (Reuters) – Argentina inflation likely rose back up to 3.6% in December, a Reuters poll of analysts showed, which would be the highest level since last April, driven by consumers splurging on festive feasts and holidays in the last month of the year. The median result came from 18 local…
