(Reuters) -Electric-vehicle startup Faraday Future Intelligent Electric said on Friday it was planning a reverse stock split, as it looks to regain compliance with Nasdaq’s minimum bid price requirements. Nasdaq requires shares trade above $1 and sends a notice when a company trades below that mark for 30 consecutive business days. Companies then have a…
(Reuters) – Electric-vehicle startup Faraday Future Intelligent Electric said on Friday it was planning a reverse stock split for a broader range of financing opportunities. The reverse stock split proposal includes a range between 1-for-2 and 1-for-90 shares of outstanding common stock. The final ratio will be determined by the Board following stockholder approval. The…
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 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 Sruthi Shankar and Noel Randewich (Reuters) – U.S. stocks were mixed on Friday, while Nvidia hit a record high, as signs of easing price pressures and slowing economic growth fueled expectations the Federal Reserve is nearing the end of its aggressive interest rate hikes. The S&P 500 and Nasdaq hovered near 14-month highs after…
PARIS (Reuters) – Airbus has signed an order for its A350 plane with a major international airline, Airbus’ chief commercial officer Christian Scherer told reporters on Friday. “Business is back with a vengeance and the show will be proof of that,” said Scherer, who was speaking ahead of the Paris Airshow which runs from June…
By Lisa Baertlein LOS ANGELES (Reuters) – United Parcel Service (UPS) union employees have voted overwhelmingly to authorize a strike should contract talks break down after the current agreement ends in two weeks, the International Brotherhood of Teamsters said on Friday. The Teamsters, representing some 340,000 UPS workers in the United States, said 97% of…
By Lucia Mutikani WASHINGTON (Reuters) -U.S. consumers’ near-term inflation expectations dropped to more than a two-year low in June and the outlook over the next five years improved slightly, according to a survey on Friday that also showed sentiment perking up. The University of Michigan’s survey followed data this week showing annual consumer and producer…
By Michael S. Derby NEW YORK (Reuters) – The New York Fed’s in-house economic forecasting model is predicting a notably brighter economic future for the U.S. relative to three months ago, the bank said Friday. The model, which the bank stresses is not an official projection of the bank but a tool for policymakers to…
By Jody Godoy (Reuters) – A U.S. judge considered whether the digital assets created by Terraform Labs were securities at a hearing on Thursday, a question central to the U.S. Securities and Exchange Commission’s fraud case against the company and its founder Do Kwon. Kwon and Terraform Labs were behind two cryptocurrencies whose implosion roiled…
