By Ankur Banerjee SINGAPORE (Reuters) – Asian equities surged on Friday and were set for their first weekly gain in a month, as renewed hopes that China will relax its strict COVID measures spurred a rally in riskier assets. MSCI’s broadest index of Asia-Pacific shares outside Japan was 2.07% higher on the day, with China’s…
By David Shepardson WASHINGTON (Reuters) – Ford Motor Co said on Thursday the U.S. Treasury Department should limit the definition of a “foreign entity of concern” to ensure more electric vehicles can qualify for up to $7,500 in consumer tax credits. In August, Congress passed the $430 billion Inflation Reduction Act (IRA) legislation to restructure…
NEW YORK (AP) — Stocks rallied Friday, but only after yo-yoing several times, as Wall Street struggled with what to make of the latest reading on the U.S. jobs market and what it means for interest rates and the odds of a recession. The S&P 500 climbed 1.4% after seeing an even bigger rally from…
By Sheila Dang, Katie Paul and Paresh Dave (Reuters) – Twitter will tell employees by email on Friday about whether they have been laid off, temporarily closing its offices and preventing staff access, following a week of uncertainty about the company’s future under new owner Elon Musk. The social media company said in an email…
(Reuters) -A state court in Washington has temporarily blocked Albertsons Companies Inc from paying a $4 billion dividend to shareholders before the grocery chain closes its proposed deal with rival Kroger Co, documents filed said on Thursday. Kroger Co snapped up Albertsons in a $25 billion deal in last month’s mega merger between the No….
Pumpkin spice pumped up Starbucks’ sales in its fiscal fourth quarter, and the company said it’s confident that momentum will carry on into next year. Starbucks’ revenue rose 3% to a record $8.41 billion in the July-September period. The company said Thursday it saw its highest-ever sales week in September when it introduced its fall…
NEW YORK (AP) — General Mills and Audi are the latest big advertisers to pause ads on Twitter as questions swirl about how the social media platform will operate under new owner Elon Musk. Spokesperson Kelsey Roemhildt on Thursday confirmed the move by the Minneapolis-based maker of food brands such as Cheerios and Annie’s macaroni…
DoorDash defied an overall slowdown in U.S. restaurant delivery in the third quarter, saying its orders jumped 27% as it expanded overseas and added new grocery and retail offerings. The San Francisco-based delivery company reported 439 million orders in the July-September period. That was higher than the 433 million Wall Street forecast, according to analysts…
By Jamie Freed SYDNEY (Reuters) – Qantas Airways Ltd’s CEO succession planning is in good shape even though long-serving boss Alan Joyce is expected to stay until at least the end of 2023, the airline’s chairman said on Friday. “The board looks at succession each year at almost every meeting, but specifically twice a year,”…
(Reuters) – Washington’s King County court has granted a nationwide temporary restraining order, blocking grocery chain Albertsons Companies Inc’s $4 billion dividend payment, State Attorney General Bob Ferguson tweeted on Thursday. “We’ll be back in court Nov. 10 seeking an injunction to keep the dividend on hold while our lawsuit continues,” Ferguson said in a…
