By Sinéad Carew and Lawrence White NEW YORK/LONDON (Reuters) – Wall Street equities deepened losses on Monday while U.S. oil futures reversed course to settle higher on production rumors after starting the day mired in worries that China’s strict COVID-19 restrictions would stunt global economic growth. While a surge in COVID cases and clashes between…
By Tiyashi Datta and Sheila Dang (Reuters) -Elon Musk accused Apple Inc of threatening to block Twitter Inc from its app store without saying why in a series of tweets on Monday that also said the iPhone maker had stopped advertising on the social media platform. The billionaire CEO of Twitter and Tesla said Apple…
By Uday Sampath Kumar (Reuters) – Spending on Cyber Monday, the biggest U.S. online shopping day, may hit a record $11.6 billion, according to a report, as discounts on everything from pajamas to AirPods drive shoppers to buy even under the strain of inflation. The Adobe Analytics report is predicting Cyber Monday spending of $11.2…
NEW YORK (AP) — Fidelity Charitable is getting into NFTs, the digital images that are registered on the blockchain, despite a torrent of bad news from the adjacent world of cryptocurrencies. The nation’s largest grantmaker is sponsoring a raffle that ends Tuesday, where participants can claim one of the NFTs, which stands for nonfungible token,…
BRUSSELS (AP) — The head of the European Central Bank said Monday she does not believe inflation has peaked after reaching the highest levels on record. ECB President Christine Lagarde also told European lawmakers that the bank isn’t through raising interest rates to combat those price spikes. There is too much uncertainty to know whether…
OMAHA, Neb. (AP) — President Joe Biden on Monday asked Congress to intervene and block a railroad strike before next month’s deadline in the stalled contract talks, and House Speaker Nancy Pelosi said lawmakers would take up legislation this week to impose the deal that unions agreed to in September. “Let me be clear: a…
(Reuters) -Elon Musk said on Monday that Apple Inc has mostly stopped advertising on Twitter, the most high-profile company to pull ads from the social media platform over concerns about content moderation policies under its new owner. The move aligns the iPhone maker with a rising list of firms from General Mills Inc to luxury…
Cryptocurrency lender BlockFi filed for Chapter 11 bankruptcy protection Monday, the latest casualty of the collapse of crypto exchange FTX. New Jersey-based BlockFi had been struggling for much of this year but was given a lifeline this summer in the form of an FTX line of credit. FTX’s own bankruptcy, however, all but sealed BlockFi’s…
By Nia Williams (Reuters) – Oil turned positive on Monday, recovering after falling to close to the lowest this year, as rumours of an OPEC+ production cut offset concerns about street protests against strict COVID-19 curbs in China, the world’s biggest crude importer. U.S. West Texas Intermediate (WTI) crude rose 48 cents, or 0.1%, to…
By Noah Browning, Pratima Desai and Michael Hogan LONDON (Reuters) – Global commodities markets were hit on Monday by worries over rare demonstrations in China against COVID-19 curbs, with oil and grains hitting significant multi-month lows and safe-haven gold rising. The protests added a new political dimension to investor concerns after months of stringent measures…
