By Aditya Soni and Akash Sriram (Reuters) -U.S. electric-vehicle startups saw massive weekly gains on Friday after a searing rally in their shares over the past few sessions nearly doubled the value of companies such as Nikola. The surge in EV stocks has come without any apparent news or catalyst for the companies, leading several…
(Reuters) – Insurance broker Acrisure has begun interviewing banks for an initial public offering next year which could fetch it a valuation of over $20 billion, a source familiar with the matter told Reuters on Friday. The Michigan-based company was valued at $23 billion after a private funding round last year. Public markets are seeing…
By Sheila Dang (Reuters) -Twitter plans to focus on video, creator and commerce partnerships to revitalize the social media company’s business beyond digital advertising, according to an investor presentation by owner Elon Musk and new Chief Executive Linda Yaccarino that was reviewed by Reuters. Yaccarino, who started as CEO on June 5, told Twitter investors…
By Lewis Krauskopf and Amanda Cooper NEW YORK/LONDON (Reuters) – A gauge of global stock markets took a breather on Friday after a run to 14-month highs, while the U.S. dollar headed for its biggest weekly slide since January following a heavy week of central bank meetings around the world. The MSCI All-World index edged…
By Lewis Krauskopf and Amanda Cooper NEW YORK/LONDON (Reuters) – A gauge of global stock markets took a breather on Friday after a run to 14-month highs, while the U.S. dollar headed for its biggest weekly slide since January following a heavy week of central bank meetings around the world. The MSCI All-World index edged…
By Kylie Madry MEXICO CITY (Reuters) -Mexico will extend the deadline for cargo airlines to move operations from the capital’s main airport to a farther-away one following U.S. Transportation Secretary Pete Buttigieg’s visit to the country, Mexico’s transportation ministry said Friday. Earlier Friday, local outlet El Financiero had reported the deadline was moved to September,…
By Jonathan Stempel (Reuters) – Adore Me, an online lingerie retailer recently purchased by Victoria’s Secret, agreed to pay $2.35 million and offer refunds to settle charges by 31 U.S. states and Washington, D.C., that it deceptively marketed its VIP Membership program to consumers. The states said Adore Me made enrollment the default selection when…
By Stephanie Kelly NEW YORK (Reuters) -Oil rose on Friday and posted a weekly gain, as higher Chinese demand and OPEC+ supply cuts lifted prices, despite expected weakness in the global economy and the prospect for further interest rate hikes. Brent crude gained 94 cents to settle at $76.61 a barrel. U.S. West Texas Intermediate…
(Reuters) – The U.S. Food and Drug Administration (FDA) said on Friday it has advised manufacturers that are updating their COVID-19 vaccines to develop monovalent shots to target the XBB.1.5 subvariant. So-called monovalent, or single-target vaccines, would be a change from the most recent bivalent COVID boosters that targeted both the original and Omicron strains…
By Pavel Polityuk and Olena Harmash KYIV (Reuters) -Ukrainian President Volodymyr Zelenskiy said after meeting African leaders in Kyiv on Friday that peace talks with Russia would be possible only after Moscow withdraws its forces from occupied Ukrainian territory. And Zelenskiy said he failed to understand what could be gained from the leaders meeting Russian…
