TOKYO (AP) — Japanese technology investor SoftBank Group Corp. reported on Friday a 3 trillion yen ($21 billion) profit for the July-September quarter, a sharp reversal from its loss a year ago. After its 398 billion yen loss a year earlier, quarterly sales rose to 1.6 trillion yen ($11 billion) from 1.5 trillion yen, it…
LONDON (AP) — Britain’s economy shrank in the three months to September, official statistics said Friday, as forecasters warned of many months of contraction to come. The Office for National Statistics said gross domestic product fell by 0.2% between July and September, a smaller-than-expected contraction that nevertheless is seen to signal the start of a…
NEW YORK (AP) — Wall Street piled more gains Friday onto its mammoth rally from a day earlier to close out its best week since the summer. The S&P 500 rose 0.9% a day after soaring 5.5% for its best day in more than two years. The Dow Jones Industrial Average added 32 points to…
SACRAMENTO, Calif. (AP) — California regulators on Thursday proposed changes to the state’s residential solar market designed to encourage more at-home battery systems that can help the electrical grid rely less on fossil fuels in the evenings, especially during heat waves. It’s the California Public Utilities Commission’s second attempt at updating the state’s incentive program…
WASHINGTON (AP) — Embattled vaping company Juul Labs announced hundreds of layoffs Thursday as the company weathers lawsuits, government bans and increasing competition for its electronic cigarettes. Juul said it has obtained new financing to stay in business and continue operations, which includes challenging plans by the Food and Drug Administration to ban its products….
NEW YORK (AP) — The swift collapse of cryptocurrency exchange FTX sent more shockwaves through the crypto world on Thursday, with authorities now investigating the firm for potential securities violations and analysts bracing for a further downturn in crypto prices. FTX had agreed earlier this week to sell itself to bigger rival Binance after experiencing…
Biogen has picked former Sanofi CEO Christopher Viehbacher to become its next leader, as the drug developer continues to recover from its failed launch of the Alzheimer’s treatment Aduhelm. The company said Thursday that the 62-year-old Viehbacher will become president and CEO on Monday, replacing Michel Vounatsos. Biogen said in May that Vounatsos would leave…
Elon Musk warned Twitter employees Thursday to brace for “difficult times ahead” that might end with the collapse of the social media platform if they can’t find new ways of making money. Workers who survived last week’s mass layoffs are facing harsher work conditions and growing uncertainty about their ability to keep Twitter running safely…
LONDON (AP) — Prime Minister Rishi Sunak is aiming to repair frayed relations with Britain’s European Union neighbors — and with highly skeptical leaders in Scotland and Wales — when he attends a summit of leaders from across the U.K. and Ireland on Thursday. It’s the first time since 2007 that a U.K. leader has…
BRUSSELS (AP) — The European Union’s executive arm proposed pollution standards Thursday for new combustion engine vehicles that are expected to remain on European roads well after the 27-nation bloc bans their sale in 2035. The so-called Euro 7 standards presented by the European Commission would apply to all cars, vans, trucks and buses sold…
