NEW YORK (AP) — Peloton is laying off employees and raising prices for some of its equipment as part of its latest bid to make the business profitable and free up cash. The changes were disclosed Friday in a memo to employees of the maker of high-end exercise bikes and treadmills from its new CEO…
(Reuters) – Alphabet Inc’s YouTube is planning to launch an online store for streaming video services, the Wall Street Journal reported on Friday. The company has renewed talks with entertainment companies about participating in the platform, which it is referring to internally as a “channel store”, the report said, citing people close to the recent…
By David Morgan, Moira Warburton and Rose Horowitch WASHINGTON (Reuters) -The Democratic-led U.S. House of Representatives approved a $430 billion bill on Friday that is seen as the biggest climate package in U.S. history, delivering a major legislative victory for President Joe Biden ahead of the Nov. 8 midterm elections. The legislation to fight climate…
By David Shepardson WASHINGTON (Reuters) -A U.S. appeals court on Friday rejected a legal challenge to the Federal Communications Commission’s (FCC) 2020 decision to shift much of a key spectrum block set aside for auto safety to accommodate the burgeoning number of wireless devices. The Intelligent Transportation Society of America and the American Association of…
MEXICO CITY (Reuters) -Mexican leasing firm Unifin’s debt restructuring is credit negative and could reflect tight refinancing conditions for Mexican financial institutions, Moody’s rating agency said on Friday. “Unifin’s restructuring and cessation of principal and interest payments will negatively affect Mexico’s smaller finance institutions, whose own liquidity profiles and funding sources are strained by heightened…
NEW YORK (AP) — Two Amazon-owned companies — Ring and Hollywood studio MGM — are teaming to create a TV show in the mold of “America’s Funniest Home Videos” using viral footage from Ring’s doorbell and smart-home cameras. The half-hour show, called “Ring Nation,” will be hosted by actor and comedian Wanda Sykes and premier…
By Andrea Shalal KYIV (Reuters) – Securing a new $5 billion loan from the IMF would help assure Ukraine’s other creditors that the war-torn country’s macroeconomic situation was under control, President Volodymyr Zelenskiy’s chief economic adviser told Reuters on Friday. Fresh financing from the International Monetary Fund for around 18 months could serve as the…
LOS ANGELES (AP) — California Gov. Gavin Newsom on Friday proposed extending the life of the state’s last operating nuclear power plant by five to 10 years to maintain reliable power supplies in the climate change era. The proposal to keep the Diablo Canyon Nuclear Power Plant running beyond a scheduled closing by 2025 gave…
WASHINGTON (AP) — With inflation raging near its highest level in four decades, President Joe Biden on Tuesday signed into law his landmark Inflation Reduction Act. Its title raises a tantalizing question: Will the measure actually tame the price spikes that have inflicted hardships on American households? Economic analyses of the proposal suggest that the…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices plunged around 2% on Friday, on expectations that supply disruptions in the U.S. Gulf of Mexico would be short-term, while recession fears clouded the demand outlook. Futures, however, were still on track for a weekly gain. Brent crude futures fell $1.47, or 1.5%, to $98.13 a barrel…
