By Ankika Biswas and Shubham Batra (Reuters) -Wall Street’s main indexes rallied on Friday as data that showed cooling wages and a contraction in U.S. services activity eased worries over the Federal Reserve’s rate-hike trajectory. The nonfarm payrolls rose by 223,000 jobs in December, data from the Labor Department showed, while a 0.3% rise in…
By David Randall NEW YORK (Reuters) – Star stock picker Cathie Wood’s Ark Invest sold 403,990 shares of embattled crypto-focused bank Silvergate Capital Corp on Thursday as shares in the firm plunged more than 40%, according to disclosures by Ark Invest. The selling nearly liquidated the firm’s share holdings and came from the $645 million…
By Stephanie Kelly NEW YORK (Reuters) – Energy futures for crude oil, refined products and natural gas have plummeted in the new year as traders reconsidered near-term worries over cold weather and fears of supply shortages and dumped contracts. Prices rose last year on worries of Europe freezing due to the loss of Russian fuel,…
BERLIN (Reuters) – Germany’s digital minister recently met Elon Musk to clarify what Berlin expects from Twitter, especially in fighting disinformation, since the Tesla founder took over the social media firm, the digital ministry said on Friday. Digital and Transport Minister Volker Wissing, who was in California at the start of 2023, told Musk that…
By Aditi Shah and Gilles Guillaume NEW DELHI/PARIS (Reuters) – Renault is considering building a mass-market electric vehicle in India, two people with knowledge of the ongoing review told Reuters, as part of a renewed push into a market where EV adoption is expected to grow quickly from a small base. The study by Renault…
By Nell Mackenzie LONDON (Reuters) – Hedge fund fees have dropped to their lowest level since the global financial crisis in 2008, research firm Hedge Fund Research (HFR) said on Friday, as high inflation and recession fears hit investors. HFR said hedge fund base fees fell from the second to the third quarter of 2022…
By Samuel Indyk and Rae Wee LONDON (Reuters) – The dollar rose to an almost one-month high on Friday, after U.S. economic data highlighted a still-tight labour market that could mean the Federal Reserve keeps hiking interest rates aggressively. The number of Americans filing new claims for jobless benefits dropped to a three-month low last…
By Rowena Edwards LONDON (Reuters) -Oil prices edged higher on Friday on hopes of a Chinese demand boost, but the broader global economic outlook kept crude benchmarks on course for a weekly decline. Brent crude futures rose 56 cents, or 0.71%, to $79.25 a barrel by 1009 GMT. U.S. West Texas Intermediate crude futures were…
SHANGHAI (Reuters) -Tesla cut electric car prices in China for the second time in less than three months on Friday, stoking expectations for a wider price war for battery-powered vehicles in the world’s largest auto market where demand has weakened. Tesla also cut prices on its best-selling Model Y and Model 3 electric vehicles in…
By Naomi Rovnick and Kevin Buckland LONDON, TOKYO (Reuters) – Global equities were set to end the first week of 2023 on a tepid note and the dollar stood tall as fears of higher U.S. interest rates hit market sentiment. The MSCI World equity index traded steadily on Friday, on course for its fifth consecutive…
