TOKYO (Reuters) – Japan’s Subaru Corp has suspended shipment of some of its three main automobile models due to an engine sensor malfunction, the Nikkei newspaper and other media reported. The automaker discovered the problem with the sensor in the CB18 engine that is used in its Forester, Outback and Levorg models, according to reports…
By Hyunjoo Jin and Chavi Mehta (Reuters) – Elon Musk’s offer to buy Twitter sparked concerns among Tesla investors and analysts that the electric carmaker could suffer as the chief executive becomes distracted by his takeover play and the possible sales of Tesla shares to fund the deal. The billionaire entrepreneur, who also heads rocket…
(Reuters) – Nektar Therapeutics said on Thursday it had stopped all trials involving its key cancer drug following its failure in multiple studies, dragging the drug developer’s shares down 23% in after-market trading. The trials that Nektar stopped included those involving a combination of its drug bempegaldesleukin with Bristol Myers Squibb Co’s cancer drug Opdivo as…
By Sheila Dang (Reuters) -Twitter Chief Executive Officer Parag Agrawal sought to reassure employees during an all-hands meeting on Thursday that the company was not being “held hostage” by news of Elon Musk’s offer to buy the company, a source familiar with the matter told Reuters. As Agrawal took questions from staff that were posted…
By Gram Slattery, Gabriel Araujo, Peter Frontini and Roberto Samora RIO DE JANEIRO/SAO PAULO (Reuters) -Brazilian state-run oil company Petrobras on Thursday formally elected Jose Mauro Coelho as its chief executive for a one-year term, ending weeks of turmoil in which the government struggled to fill the top position. Coelho, a government technocrat, pledged to…
OMAHA, Neb. (AP) — Newspaper publisher Lee Enterprises is facing renewed pressure from a hedge fund to speed up its transition to digital publishing and consider adding new digital-savvy leaders to its board after successfully fighting off a hostile takeover from a different hedge fund. Lee’s largest shareholder, Cannell Capital, this week disclosed buying nearly…
SANTIAGO (Reuters) – Chilean President Gabriel Boric faces an economic slowdown and high inflation, which conflicts with his goal to expand social programs, and could increase pressure for more financial stimulus, according to a Bank of America report released on Thursday. The government recently announced a $3.7 billion economic recovery plan to support sectors still…
By Elizabeth Howcroft LONDON (Reuters) – Crypto entrepreneur Sina Estavi made headlines in March 2021 when he paid $2.9 million for an NFT of Twitter boss Jack Dorsey’s first tweet. But his efforts to re-sell it have run aground, with a top bid of just $6,800 as of Thursday. The initial purchase was at the…
By Sinéad Carew (Reuters) – Wall Street stocks finished lower while bond yields and the dollar rose on Thursday as investors worried about the potential for aggressive U.S. policy tightening as other central banks around the world moved to reduce support. The benchmark 10-year U.S. Treasury yield jumped, following two days of declines, after a…
By Michelle Price and Matt Scuffham WASHINGTON (Reuters) -Some big U.S. banks have again started stockpiling cash to cushion potential loan losses due to growing worries over the war in Ukraine and the impact of inflation on the U.S. economy, although trading continues to be bright spot for Wall Street. JPMorgan Chase & Co, Goldman…
