By Medha Singh (Reuters) – WeWork, a prized startup just four years ago but now a micro-cap, and other penny stocks such as Amyris and Proterra are the latest focus of speculative bets from retail traders, with shares of the financially struggling firms rising in strong trading volume after hitting record lows this week. The…
(Reuters) – SoftBank Group-owned chip designer Arm is getting investment interest from several major tech firms for what is expected to be one of this year’s biggest initial public offerings. Arm has been in talks with about 10 companies, including Amazon.com, Intel, Alphabet and Nvidia, about investments ahead of its IPO. Here is a list…
(Reuters) – The U.S. Securities and Exchange Commission (SEC) has delayed a decision on whether to approve Cathie Wood-led Ark Investment Management’s (ARK) spot bitcoin exchange-traded fund (ETF), a filing by the regulator showed on Friday. The SEC is seeking public comment on the Ark 21Shares Bitcoin ETF application, and has pushed back the decision…
(Reuters) – The labels “dove” and “hawk” have long been used by central bank watchers to describe the monetary policy leanings of policymakers, with a dove more focused on risks to the labor market and a hawk more focused on the threat of inflation. The topsy-turvy economic environment of the coronavirus pandemic sidelined those differences,…
By David Shepardson (Reuters) -Chrysler parent Stellantis sharply criticized the demands of the United Auto Workers (UAW) union on Friday, saying they need “a focus on reality from everyone involved.” Stellantis North America Chief Operating Officer Mark Stewart said in a letter to employees seen by Reuters the automaker is “committed to working with the…
By Dietrich Knauth NEW YORK (Reuters) -Trucking firm Yellow Corp will extend negotiations on a bankruptcy loan until next week, seeking to explore at least two alternative loan proposals that would provide $142.5 million in new cash, the company’s attorney said in court on Friday. Yellow filed for bankruptcy on Sunday with a loan offer…
(This Aug. 10 story has been corrected to locate Maui north and west of Big Island instead of east in paragraph 11) By Jonathan Oatis (Reuters) – Wildfires on Hawaii’s Maui island and Big Island have killed dozens of people, forced thousands of residents and tourists to evacuate, and devastated the historic resort city of…
By Trevor Hunnicutt WASHINGTON (Reuters) – U.S. President Joe Biden is tapping C. Kirabo Jackson, a labor economist whose research advocates robust public spending on schools, to fill out his three-member Council of Economic Advisers (CEA), according to a White House official. The selection suggests public education will be a key area of focus for…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. producer prices increased slightly more than expected in July as the cost of services rebounded at the fastest pace in nearly a year, but the trend remained consistent with a moderation in inflationary pressures. The report from the Labor Department on Friday also showed goods prices outside food…
By Valerie Volcovici WASHINGTON (Reuters) -The U.S. Department of Energy on Friday announced that projects in Texas and Louisiana to remove more than 2 million metric tons of carbon emissions per year will get over $1 billion in federal grants, a key step in scaling up direct air capture (DAC) technology. The Department of Energy…
