By Dawn Chmielewski and Sheila Dang (Reuters) – Elon Musk has named former NBCUniversal advertising chief Linda Yaccarino as Twitter’s new CEO, as the company tries to reverse a plunge in ad revenue. Yaccarino will take over a social media platform beset with challenges and a heavy debt load, after she spent several years modernizing…
By Xie Yu HONG KONG (Reuters) – Shareholders of China Evergrande New Energy Vehicle Group accepted a proposal to dispose of two subsidiaries in a restructuring, according to a filing with the Hong Kong stock exchange on Friday night. More than 50% of the votes under the EV company, a unit of embattled property developer…
(Reuters) – A former head of engineering at Bytedance in the United States has said the company discharged him after he voiced concern to management that it was taking user content from other platforms, mainly Instagram and Snapchat. The dispute comes at a time when ByteDance-owned app TikTok faces growing calls for a nationwide ban…
By Andrea Shalal NIIGATA, Japan (Reuters) – The current banking environment and pressures on earnings of some U.S. regional banks may lead to some concentration in the sector, and regulators will likely be open to such mergers, Treasury Secretary Janet Yellen said on Saturday. Yellen told Reuters she was not seeing evidence of pressure on…
By Chayut Setboonsarng and Napat Wesshasartar BANGKOK (Reuters) – Surrounded by adoring crowds packed inside stadiums and halls, the main prime ministerial candidates of Thailand’s political parties made a final push to rally supporters on Friday, two days before a crunch general election. After nearly a decade of a government led or backed by its…
By Christian Kraemer and Leika Kihara NIIGATA, Japan (Reuters) -Finance leaders of the Group of Seven (G7) rich nations warned of heightening global economic uncertainty on Saturday, as they wrapped up a three-day meet overshadowed by a U.S. debt ceiling stalemate and fallout from Russia’s invasion of Ukraine. Their gathering in the Japanese city of…
By Ann Saphir PALO ALTO, Calif. (Reuters) -The Federal Reserve is getting interest rates closer to where they need to be to win the battle against inflation, a pair of U.S. central bankers said on Friday, though neither gave a clear signal on whether they feel they have reached that point. Coming a week after…
By Daina Beth Solomon and Julio-Cesar Chavez CIUDAD JUAREZ, Mexico/EL PASO, Texas (Reuters) -The Biden administration began implementing a sweeping policy shift at the U.S.-Mexico border on Friday as a COVID-era order that had allowed the swift expulsion of many migrants expired and new asylum restrictions took effect amid confusion and uncertainty. Several last-minute court…
SHANGHAI (Reuters) – Chinese smartphone maker Oppo said it will shut down its chip design unit, citing uncertainties in the global economy and the smartphone industry. The company, one of China’s best-selling domestic smartphone brands, said it will cease operations of its Zeku unit, which it set up in 2019. Its products include the MariSilicon…
SHANGHAI (Reuters) – Chinese smartphone maker Oppo said it will shut down its chip design unit, citing uncertainties in the global economy and the smartphone industry. The company, one of China’s best-selling domestic smartphone brands, said it will cease operations of its Zeku unit, which it set up in 2019. Its products include the MariSilicon…
