By Tom Hals WILMINGTON, Del. (Reuters) – After five days of testimony, including three hours from Elon Musk, a Delaware judge will now decide whether Musk’s $56 billion pay package from Tesla Inc was justified by the company’s explosive growth or undermined by a flawed process. Musk and the Tesla directors named as defendants repeatedly…
By Hyunjoo Jin (Reuters) -Elon Musk on Friday asked any remaining Twitter employees who write software code to report to the 10th floor of the office in San Francisco by early afternoon, according to an email reviewed by Reuters. The billionaire said in a follow-up email: “If possible, I would appreciate it if you could…
By Herbert Lash and Carolyn Cohn NEW YORK/LONDON (Reuters) -Global equities edged up and a key part of the Treasury yield curve inverted further on Friday, a sign the U.S. economy will stall next year and that investors hope will lead the Federal Reserve to back off its aggressive hiking of interest rates. Surprisingly strong…
By Ahmed Aboulenein WASHINGTON (Reuters) – The divided U.S. Congress after the November midterm elections undermines pharmaceutical companies who want to weaken a new law that allows the government to negotiate drug prices, Republican strategists, policy experts and pharmaceutical executives say. Democratic President Joe Biden’s signature Inflation Reduction Act, which Democrats passed in August against…
WASHINGTON (Reuters) – The U.S. Justice Department has opened an antitrust investigation into Ticketmaster’s owner, Live Nation Entertainment, the New York Times reported on Friday after the company’s sale of Taylor Swift concert tickets this week overwhelmed its website. (Reporting by Diane Bartz; Editing by Chris Reese)
By Shreyashi Sanyal and Devik Jain (Reuters) -Europe’s STOXX 600 index closed higher on Friday in a broad-based rally led by retailers and automakers, while investors awaited minutes from the European Central Bank’s last policy meeting and kept an eye out for a slew of data due next week. The pan-European benchmark index jumped 1.2%…
MILAN (Reuters) – An Italian administrative court on Friday rejected an appeal by Alphabet’s Google against a decision by Italy’s antitrust authority to fine the group, but accepted iPhone maker Apple’s appeal against the watchdog’s ruling. Last year, Italy’s antitrust regulator fined Google and Apple 10 million euros ($10.36 million) each, claiming that the two…
BERLIN (Reuters) – A manual transmission plant owned by Volkswagen’s joint venture with SAIC Motors will close next March, the carmaker said on Friday. The news was communicated to staff this week in a letter published in local media, marking the latest step in the joint venture’s winding down of production of manual cars because…
WASHINGTON (Reuters) – Congress plans to hold a hearing on Ticketmaster, prompted by problems with Taylor Swift ticket sales this week and long-running issues like hidden fees, a key senator said on Friday. Senator Amy Klobuchar, chair of the Senate antitrust panel, did not give a date for the hearing but said it would be…
(Reuters) -E-commerce firm JD.com Inc posted an 11.4% rise in third-quarter revenue on Friday, beating analysts’ estimates as COVID-19 lockdowns in China led more consumers to shop online. U.S.-listed shares in JD.com rose more than 3% in trading before the bell. Chinese retail spending has sagged this year, with consumers frustrated by the government’s strict…
