TOKYO (AP) — Asian shares mostly rose Thursday as investors welcomed encouraging economic data and quarterly earnings reports from big companies. Benchmarks rose across the region, including Japan, China, Australia and South Korea. The gains followed a strong rally on Wall Street. Jitters eased over the visit of U.S. House Speaker Nancy Pelosi to Taiwan…
NEW YORK (AP) — Robinhood Markets said Tuesday it’s cutting nearly a quarter of its workforce, as crashing cryptocurrency prices and a turbulent stock market keep more customers off its trading app. CEO Vlad Tenev said the company, whose easy-to-use app helped bring a new generation of investors to the market, will reduce its headcount…
SAN FRANCISCO (AP) — Elon Musk’s wealthy high tech allies don’t seem too happy about receiving subpoenas from Twitter as part of the company’s legal battle with the Tesla CEO. San Francisco-based Twitter is suing Musk in Delaware in an attempt to get him to complete his $44 billion acquisition of the social media company,…
SACRAMENTO, Calif. (AP) — Rent-A-Center, one of the nation’s largest rent-to-own companies, will pay $15.5 million to settle California’s allegations that it misled and overcharged tens of thousands of customers, Attorney General Rob Bonta said Tuesday. An investigation of the company’s “kiosk” business inside traditional retail furniture stores found that since 2014, it used what…
MILAN (AP) — Luxury Italian automaker Ferrari raised its 2022 forecast Tuesday after reporting a 22% increase in second-quarter earnings as sales in the Americas surged. The maker of high-performance luxury sports cars reported net profits of 251 million euros ($257 million) in April through June, up from 206 million euros in the same period…
NEW YORK (AP) — JetBlue Airways lost $188 million in the second quarter, as fuel costs nearly tripled and wiped out a large increase in revenue during the early part of the peak vacation-travel season. The loss reported Tuesday was wider than Wall Street expected. JetBlue was unable to keep pace with bigger rivals, who…
LONDON (AP) — British Airways said Tuesday that it’s suspending sales of short-haul flights from London’s Heathrow Airport, a response to the airport’s request to limit bookings to help ease travel disruptions caused by booming demand and staff shortages. The suspension applies to new bookings for domestic U.K. and European destinations departing from Heathrow, Britain’s…
WASHINGTON (AP) — American employers posted fewer job openings in June as the economy contends with raging inflation and rising interest rates. Job openings fell to a still-high 10.7 million in June from 11.3 million in May, the Labor Department said Tuesday. Job openings, which never exceeded 8 million in a month before last year,…
DEERFIELD, Ill. (AP) — Caterpillar had a strong second quarter and topped most profit expectations, though margins slipped. The manufacturer on Tuesday posted a quarterly profit of $1.67 billion, or $3.13. Per share earnings were $3.18 without one-time costs or benefits, which is 18 cents better than Wall Street had expected, according to a survey…
TOKYO (AP) — The United States is working with Japan and other likeminded countries to counter China’s efforts to use its economic might to force political change around the world, the U.S. ambassador to Japan said Tuesday in an interview with The Associated Press. Rahm Emanuel, who was previously mayor of Chicago and chief of…
