By Sinéad Carew and Shreyashi Sanyal (Reuters) – The S&P 500 and the Dow lost almost 2% on Wednesday, their biggest daily drops in more than a month, after weak economic data fueled recession worries while hawkish comments from Federal Reserve officials soured investor moods further. Before the market opened, U.S. economic data showed retail…
(Reuters) – Bed Bath & Beyond Inc is in talks with prospective buyers and lenders as the struggling retailer tries to keep its business afloat during a likely bankruptcy filing, CNBC reported on Wednesday, citing people familiar with the matter. (Reporting by Deborah Sophia in Bengaluru; Editing by Devika Syamnath)
By Tom Hals and Jody Godoy (Reuters) – As Elon Musk prepares to take the stand at a trial to determine whether he misled investors about taking Tesla Inc private in 2018, the billionaire can expect his tweets, public comments and his thin skin to be used against him, legal experts said. Tesla shareholders want…
By Jody Godoy SAN FRANCISCO (Reuters) -Tesla Inc CEO Elon Musk “lied” when he said that funding was “secured” to take the company private, a lawyer for Tesla investors said on Wednesday, as an attorney for Musk argued that the billionaire merely used the “wrong words” when he tweeted about his plans in 2018. Tesla…
By David Shepardson WASHINGTON (Reuters) – NASA said on Wednesday it awarded $425 million to Boeing Co for the agency’s “Sustainable Flight Demonstrator” project as the Biden administration works to cut aviation sector emissions. Boeing will work with NASA to “build, test, and fly a full-scale demonstrator aircraft and validate technologies aimed at lowering emissions,”…
By Ananya Mariam Rajesh and Aatrayee Chatterjee (Reuters) -U.S. holiday sales rose by 5.3%, but fell short of estimates, as shoppers feeling the brunt of stubbornly high inflation pulled forward purchases to October when retailers offered hefty discounts, data from the National Retail Federation (NRF) showed on Wednesday. The leading retail industry group said including…
By Chris Taylor NEW YORK (Reuters) – If your kid happens to be in public school in Portland, Dallas, Los Angeles or Oakland and is taking a personal finance workshop in the coming months, ask them if they caught sight of one of the founders of the program. If he is 6-foot-4 (1.93 meters), more…
PARIS (Reuters) – Renault group sales in 2022 fell 5.9% to 2,051,174 vehicles, marking a fourth consecutive annual decline after capacity constraints and supply chain snags, the company said on Wednesday. The group, which is in the middle of a turnaround, said its order book in Europe was at a record level of 3.5 months…
By Walter Bianchi and Jorgelina do Rosario BUENOS AIRES (Reuters) -Argentina will buy back overseas bonds equivalent to over $1 billion to improve the South American country’s debt profile, economy minister Sergio Massa said on Wednesday, looking to send a positive signal to markets despite low reserves levels. The move will focus on sovereign notes…
By Andrea Shalal ZURICH (Reuters) -U.S. Treasury Secretary Janet Yellen agreed with Chinese Vice Premier Liu He to enhance communication about macroeconomic and financial issues during a “candid, substantive, and constructive” meeting in Zurich on Wednesday, the Treasury said. In a statement, the Treasury said both sides agreed to enhance cooperation on climate finance on…
