Stocks on Wall Street closed broadly lower Wednesday as drops by big technology companies wiped out the S&P 500′s gains for the week. The benchmark index fell 0.7%, snapping a three-day winning streak. The Dow Jones Industrial Average fell 0.5% and the tech-heavy Nasdaq slid 1.3%. Small-company stocks fell more sharply than the rest of…
By Dawn Chmielewski and Svea Herbst-Bayliss (Reuters) – The first time billionaire investor Daniel Loeb began pushing for change at the Walt Disney Co, he got his wish. His hedge fund Third Point LLC in 2020 called on the company to suspend its dividend and go all-in on streaming. Days later, the company announced it…
KYIV, Ukraine (AP) — A spate of explosions and fires has turned Russian-occupied Crimea from a secure rear base into a new battleground in the war, demonstrating both the Russians’ vulnerability and the Ukrainians’ capacity to strike deep behind enemy lines. Nine Russian warplanes were reported destroyed at an air base in Crimea last week,…
LONDON (AP) — Britain’s inflation rate rose to a new 40-year high of 10.1% in July, a faster pace than in the U.S. and Europe as climbing food prices in the United Kingdom tightened a cost-of-living squeeze fueled by the soaring cost of energy. The double-digit surge in consumer prices over a year earlier was…
By Josh Ye HONG KONG (Reuters) – China’s Tencent Holdings reported on Wednesday its first ever quarterly sales fall, hurt by a lack of game approvals and regulations that limit playing time, as well as COVID-19 lockdowns and a weak economy that squeezed ad sales. Tencent, the world’s largest video game company and the operator…
MADRID (AP) — While vacationers might enjoy the Mediterranean Sea’s summer warmth, climate scientists are warning of dire consequences for its marine life as it burns up in a series of severe heat waves. From Barcelona to Tel Aviv, scientists say they are witnessing exceptional temperature hikes ranging from 3 degrees Celsius (5.4 Fahrenheit) to…
SYDNEY (Reuters) – Australia’s highest court overturned on Wednesday a ruling that had found Google engaged in defamation by supplying a link to a contested newspaper article, throwing the spotlight again on how online libel cases are handled in the country. The seven-judge panel of the High Court of Australia voted 5-2 to throw out…
SHANGHAI (Reuters) – China’s EVE Energy Co Ltd will supply BMW with large cylindrical batteries for its electric cars in Europe, two people with knowledge of the matter said, as the German automaker follows Tesla Inc in adopting the new technology. EVE has signed contracts to be BMW’s primary supplier of the battery cells in…
KYIV, Ukraine (AP) — It was early one morning when life under Russian occupation became too much for Volodymyr Zhdanov: Rocket fire aimed at Ukrainian forces struck near his home in the city of Kherson, terrifying one of his two children. His 8-year-old daughter “ran in panic to the basement. It was 2 o’clock in…
FRANKFURT (Reuters) – Germany’s Uniper, which secured a 15 billion euro bailout last month, unveiled a net loss of more than 12 billion euros ($12.2 billion) for the first half, partly blaming lower Russian gas supplies that forced it to buy at much higher prices elsewhere. Uniper, in which Finland’s Fortum owns 78%, said the…
