By Ann Saphir (Reuters) -Chicago Federal Reserve Bank President Charles Evans on Tuesday said the Fed could raise its policy target range to 2.25%-2.5% by year end and then take stock of the state of the economy, but if inflation remains high will likely need to hike rates further. “Probably we are going beyond neutral…
(Reuters) – Twitter Inc co-founder Jack Dorsey took aim at the social media company’s board in a series of tweets late on Monday as it weighs Elon Musk’s $43 billion takeover offer. Dorsey, who is also a Twitter board member, added to the chatter on the micro-blogging platform last week when he said that Twitter’s…
By Mathieu Rosemain PARIS (Reuters) – Two former bosses of Deliveroo were given suspended one-year prison sentences and fined 30,000 euros ($32,380) by a French court on Tuesday for abusing the freelance status of riders working for the British takeaway delivery platform. The company was also fined the maximum penalty of 375,000 euros and will…
By Tom Hals and Jessica DiNapoli (Reuters) – Twitter Inc’s board directors can lean on concerns about the fate of the social media platform under Elon Musk to rebuff him, but if they decide to explore a sale, price will override all other considerations, corporate governance experts said. The San Francisco-based company received a $43…
By Manas Mishra (Reuters) -Johnson & Johnson on Tuesday said it could no longer provide a forecast for sales of its COVID-19 vaccine, as vaccine hesitancy in low income countries paired with already low demand in higher income nations has led to a glut of supply. The company had earlier predicted as much as $3.5…
By Daniel Wiessner (Reuters) – Tesla Inc has asked a California judge to pause a state agency’s lawsuit that accuses the electric car maker of widespread race discrimination at its flagship assembly plant, saying the state must further investigate the claims and allow a chance to settle the litigation. Tesla in a filing in state…
By Samuel Indyk and Pete Schroeder LONDON/WASHINGTON (Reuters) -Wall Street opened higher on Tuesday and bond yields continued to swing upward as Russia’s invasion of Ukraine weighed on global growth expectations and looming Fed tightening kept investors on edge. The International Monetary Fund slashed its forecast for global economic growth by nearly a full percentage…
By Hyunjoo Jin and Nivedita Balu SAN FRANCISCO (Reuters) -Tesla investors on Wednesday will be keeping an eye on whether the electric car company maintains its ambitious 2022 delivery target as the biggest factory, Shanghai, grapples with a COVID-19 shutdown and new plants slowly ramp up output. Tesla reports quarterly results and analysts are also…
Moderna hopes to offer updated COVID-19 boosters in the fall that combine its original vaccine with protection against the omicron variant. On Tuesday, it reported a preliminary hint that such an approach might work. Today’s COVID-19 vaccines all are based on the original version of the coronavirus. But the virus continues to mutate, with the…
NEW YORK (AP) — The New York Times has named Joseph Kahn as its new executive editor, replacing Dean Baquet with his current second-in-command to lead the news organization as it rapidly transforms itself in the digital age. Kahn, who has been managing editor at the Times since 2016, will take over on June 14….
