BEIJING (Reuters) – China’s services activity shrank in December as surging COVID infections hit demand, a private-sector survey showed on Thursday, although the pace of recent declines slowed while business confidence rose to a 17-month high. The Caixin/S&P Global services purchasing managers’ index (PMI) rose to 48.0 in December from 46.7 in November, but remained…
By Dietrich Knauth (Reuters) – A U.S. bankruptcy judge ruled on Wednesday that Celsius Network owns most of the cryptocurrency that customers deposited into its online platform, meaning most Celsius customers will be last in line for repayment in the crypto lender’s bankruptcy. The ruling by U.S. Bankruptcy Judge Martin Glenn in New York affects…
(Reuters) – Amazon.com Inc is planning to lay off more than 17,000 workers, 7,000 more than initially expected, the Wall Street Journal reported on Wednesday. The e-commerce giant in November began laying off staff in its devices division, with the source telling Reuters at the time the company was targeting 10,000 job cuts. Some of…
By Isla Binnie NEW YORK (Reuters) – Global sales of corporate bonds with environmental, social and governance (ESG) targets will rebound this year and top $460 billion, Barclays said, after the asset class had its first setback in 2022 as higher interest rates weighed on credit markets. ESG bond volumes swelled over the past few…
By Jonathan Stempel NEW YORK (Reuters) – Trader Joe’s was sued on Wednesday by a consumer who accused the grocery chain of misleading and endangering shoppers by selling dark chocolate that contains harmful levels of lead and cadmium. The proposed class action was filed in the federal court in Central Islip, New York, one week…
(Reuters) – The Federal Reserve should continue hiking interest rates at its next few meetings at a minimum until it is sure that inflation has peaked, Minneapolis Fed President Neel Kashkari said on Wednesday, as he set out his own forecast that the policy rate should initially pause at 5.4%. “In my view … it…
By David Randall NEW YORK (Reuters) – Tesla Inc’s steep sell-off is proving to be an ongoing nightmare for fund managers that have bet heavily on the Elon Musk-led electric vehicle manufacturer. Overall, 50 actively-managed U.S. equity funds have more than 5% of their assets in the company, exceeding the barrier that many portfolio managers…
PARIS (Reuters) – France’s privacy watchdog CNIL on Wednesday said it had imposed an 8 million euro ($8.49 million) fine linked to ad personalisation in the iPhone maker’s App Store, citing shortcomings with regard to user consent. “The advertising targeting settings available from the “Settings” icon of the iPhone were pre-checked by default”, the CNIL…
By Amruta Khandekar and Ankika Biswas (Reuters) -Wall Street’s main indexes reversed early losses on Wednesday, as investors looked past a set of economic data, with focus squarely on the Federal Reserve’s December meeting minutes for clues on the outlook for interest rates. Minutes from the Fed’s previous meeting, when it raised interest rates by…
By Gilles Guillaume PARIS (Reuters) – Car maker Stellantis will help build Archer Aviation’s electric aircraft Midnight eVTOL and increase its stake in the U.S. company, the two firms said on Wednesday. Industrial firms and new startups are flocking to invest in air taxis, which can take off and land vertically to ferry travellers to…
