(Reuters) -Cryptocurrency-focused lender Silvergate Capital warned it was delaying its annual report and said it was evaluating its ability to operate as a going concern on Wednesday, sending its shares down by more than a quarter in after-hours trading. Silvergate reported a $1 billion loss for the fourth quarter as investors raced to withdraw deposits…
By Emily Chow bsSINGAPORE (Reuters) – Oil prices inched up in early Asian trade on Thursday, extending gains from the previous two sessions on signs of a strong economic rebound in China, the world’s top oil importer, which offset worries about a rise in U.S. crude inventories. Brent crude futures rose 12 cents, or 0.1%,…
By Svea Herbst-Bayliss (Reuters) -Activist investor Elliott Management Corp has nominated a slate of directors to the board of cloud-based software provider Salesforce Inc, a source familiar with the matter said on Wednesday. The source declined to name Elliott’s director candidates or say how many there were. Elliott said it has been in substantive dialogue…
By Hyunjoo Jin, Joseph White and Akash Sriram SAN FRANCISCO (Reuters) – Tesla Inc will cut assembly costs by half in future generations of cars, engineers told investors on Wednesday, but Chief Executive Elon Musk did not unveil a much-awaited small, affordable electric vehicle. Shares fell more than 5% in after hours trade following presentations…
By David Morgan WASHINGTON (Reuters) – A Republican bill to prevent pension fund managers from basing investment decisions on factors like climate change cleared Congress on Wednesday, setting up a confrontation with President Joe Biden, who is expected to veto the measure. The U.S. Senate voted 50-46 to adopt a resolution to overturn a Labor…
By Saeed Azhar NEW YORK (Reuters) -Goldman Sachs Group Inc is embarking on a tough sales pitch to investors for assets in its troubled consumer business, which has dragged on earnings and may lack appeal for potential buyers. In an unexpected move, Chief Executive Officer David Solomon said on Tuesday the bank is looking at…
By Joe Skipper and Steve Gorman CAPE CANAVERAL, Florida (Reuters) – Elon Musk’s rocket company SpaceX was ready to try again at sending NASA’s next long-duration crew of the International Space Station to orbit on Thursday, about 72 hours after a first attempt was scrubbed due to a clogged filter in the launch system. Two…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Tesla Inc Chief Executive Elon Musk kicked off his company’s Investor Day on Wednesday by describing a plan to eliminate fossil fuels from the economy. Musk is expected to lay out a plan to make a smaller, more affordable electric vehicle that would broaden his brand’s appeal and…
By Chibuike Oguh NEW YORK (Reuters) – Blackstone Inc said on Wednesday it had blocked investors from cashing out their investments at its $71 billion real estate income trust (BREIT) as the private equity firm continues to grapple with a flurry of redemption requests. BREIT said it fulfilled redemption requests of $1.4 billion in February,…
By Andrea Shalal WASHINGTON (Reuters) – U.S. President Joe Biden is using $1.5 trillion in new federal spending to continue his push to reshape the U.S. economy, redirect corporate profits and reverse a decades-old decline in the benefits that go to workers. With a new team of progressive-leaning economic advisers and a fiscal war chest…
