By Tom Hals WILMINGTON, Del. (Reuters) -Elon Musk countersued Twitter Inc on Friday, escalating his legal fight against the social media company over his bid to walk away from the $44 billion purchase, although the lawsuit was filed confidentially. While the 164-page document was not publicly available, under court rules a redacted version could soon…
By Fergal Smith TORONTO (Reuters) – Canada’s resource-heavy main stock index rose on Friday, capping a positive month for the market, as company earnings impressed investors and preliminary data showed the Canadian economy expanding more than expected in the second quarter. The Toronto Stock Exchange’s S&P/TSX composite index ended up 236.21 points, or 1.2%, at…
By Lisa Pauline Mattackal, Divya Chowdhury and Nishara Karuvalli Pathikkal (Reuters) – Central banks and markets may have dropped the narrative that inflation is “transitory,” but there is a strong chance that current spikes in prices are temporary and will soon begin to trend downward, economists and former central bank policymakers told the Reuters Global…
By Simon Lewis and David Brunnstrom WASHINGTON (Reuters) – Long-time allies the United States and Japan launched a new high-level economic dialogue on Friday aimed at pushing back against China and countering the disruption caused by Russia’s invasion of Ukraine. The two countries agreed to establish a new joint research center for next-generation semiconductors during…
By Ann Saphir and Howard Schneider (Reuters) – Federal Reserve Chair Jerome Powell said this week he’s looking for compelling signs that inflation is cooling before the U.S. central bank will let up on what’s so far been its most aggressive set of interest rate hikes in decades. In data released on Friday, he largely…
(Reuters) -Indian cab aggregator Ola and Uber Technologies Inc are considering a potential merger, the Economic Times reported on Friday, citing sources familiar with the matter. Ola Chief Executive Bhavish Aggarwal met top Uber executives in San Francisco, United States, recently, the report said, citing two sources. (https://bit.ly/3cPbXro) The report did not disclose financial details…
SACRAMENTO, Calif. (AP) — A vial of insulin cost $25 in 1995, back when Chris Noble was 5 years old and just learning how to manage his Type 1 diabetes with the help of his parents and his doctors. Nearly three decades later, Noble says that same vial of insulin costs more than $300 —…
Procter & Gamble’s sales rose 3% in the fiscal fourth quarter, but the world’s largest consumer products maker gave a lackluster fiscal 2023 sales forecast as it contends with rising commodity and freight costs. Shares of the Cincinnati-based company dropped 5% in morning trading Friday. Like many businesses, P&G is dealing with consumers pulling back…
MADRID (AP) — Spain’s leader has proposed an energy-saving move that many men have already embraced. Spanish Prime Minister Pedro Sánchez has asked government officials and people working in the private sector to save energy by giving up wearing neckties at work. Appearing at a news conference in an open-necked white shirt and blue jacket,…
NEW YORK (AP) — Prices for gas, food and rent are soaring. The Federal Reserve has raised interest rates to the highest level since 2018. The U.S. economy has shrunk for two straight quarters. Economists are divided over whether a recession is looming. What’s clear is that economic uncertainty isn’t going away anytime soon. But…
