By Svea Herbst-Bayliss NEW YORK (Reuters) -A majority of Canada’s Ritchie Bros shareholders have voted in favor of the company buying U.S. auto retailer IAA in a deal valued at roughly $7 billion, people familiar with the preliminary tally said. The cash and stock deal, first announced in November, has become one of the year’s…
(Reuters) – Cryptocurrency token Ether fell to its lowest in two months on Friday after the New York attorney general labeled it a security, bracketing it with assets such as stocks and bonds and fueling fears of a wider regulatory crackdown. New York Attorney General Letitia James on Thursday referred to Ether as a security…
(Reuters) – Apple Inc shareholders on Friday rejected two shareholder proposals put forth by conservative U.S. groups focused on scrutinizing the iPhone maker’s inclusion and diversity policies and its ties to China. Shareholders also approved the company’s executive pay packages. The approval comes after the company reduced Chief Executive Officer Tim Cook’s pay and made…
By David Randall NEW YORK (Reuters) – Big declines in holdings including Tesla Inc and 2U Inc are leaving star stock picker Cathie Wood’s flagship ARK Innovation Fund on pace for its worst weekly decline since September as the Federal Reserve appears ready to hike interest rates further. Tesla, the fund’s top holding, is down…
By Arriana McLymore and Casey Hall NEW YORK/SHANGHAI (Reuters) – Online fast-fashion retailer SHEIN and its newer rival Temu are in a race to win shoppers’ attention for their inexpensive China-made goods. The battle between them is playing out not only on social media but also in a U.S. court. The legal skirmish is important…
By Naomi Rovnick and Mehnaz Yasmin LONDON (Reuters) – For months, investors had shrugged off the threat of rising interest rates. That changed this week. U.S. tech specialists Silicon Valley Bank’s failed scramble for fresh capital, after losing $1.8 billion selling a package of bonds to meet depositor demands for cash, sparked a global rout…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen urged members of the U.S. House of Representatives on Friday to raise the federal debt ceiling without conditions, warning that a default on U.S. debt would cause an “economic and financial catastrophe.” Yellen, in budget testimony before the Republican-controlled House Ways and Means Committee, said that failure…
OTTAWA (Reuters) -The Canadian economy gained a net 21,800 jobs in February, exceeding analyst forecasts, while the jobless rate also unexpectedly held steady at 5.0%, Statistics Canada data showed on Friday. Analysts surveyed by Reuters had forecast a net gain of 10,000 jobs and for the unemployment rate to edge up to 5.1%. February’s job…
BRUSSELS (Reuters) – Belgian federal government employees will no longer be allowed to use the Chinese-owned video app TikTok on their work phones, Belgian Prime Minister Alexander De Croo said on Friday. De Croo said he called upon regional governments to apply the same rules. (Reporting by Benoit Van Overstraeten and Bart Meijer; Editing by…
By Norihiko Shirouzu, Maki Shiraki and David Dolan TOKYO (Reuters) – Nissan Motor Co’s new Ariya electric vehicle has been hampered by problems at its high-tech production line, four people familiar with the matter said, slowing delivery of a car designed to put the automaker on the road to a comeback. Unveiled in 2020 to…
