By Yuka Obayashi TOKYO (Reuters) – Oil prices plunged on Friday, after rising to seven-year highs this week, as an increase in U.S. crude and fuel stockpiles prompted investors to take profits from the rally. Brent crude futures dropped $2.46, or 2.8%, to $85.92 a barrel by 0136 GMT. The contract earlier fell by as…
By Svea Herbst-Bayliss BOSTON (Reuters) – Galaxy Digital Holdings Ltd, a crypto-oriented financial services firm, on Thursday said it hired an executive from asset management giant Blackstone Group to help grow its business and expand product offerings. William Burt, a former managing director at Blackstone, joined Galaxy Digital as chief operating officer of Galaxy Digital…
TOKYO (AP) — The shortage of parts caused by the coronavirus pandemic is further denting production at Toyota, Japan’s top automaker. Production at 11 plants in Japan will be halted Friday, Saturday and next Monday, Toyota Motor Corp. said. That comes on top of reductions planned for February that were announced earlier. Those reduction will…
By Lisa Richwine LOS ANGELES (Reuters) -Netflix Inc dashed hopes for a quick rebound after forecasting weak first-quarter subscriber growth on Thursday, sending shares sinking nearly 20% and wiping away most of its remaining pandemic-fueled gains from 2020. The world’s largest streaming service projected it would add 2.5 million customers from January through March, less…
(Reuters) – Deutsche Bank AG has hired John Arena from Bank of America to help structure art loans for ultra-rich individuals in the Americas, according to an internal memo on Thursday seen by Reuters. Fine-art lending programs are a wealth-planning strategy designed to help individuals looking to fund an investment in fine art or make…
By Marcy deLuna HOUSTON (Reuters) – A California investor sued Tellurian Inc Chairman Charif Souki on Thursday, accusing him of fraud in relation to an agreement over Tellurian stock. Shareholder Chris Parker filed a breach of contract lawsuit with the U.S. District Court in Denver seeking unspecified damages from Souki, founder of the U.S. liquefied…
(Reuters) -Peloton Interactive Inc is temporarily halting production of its connected fitness bikes and treadmills after a significant drop in demand, CNBC reported on Thursday, citing internal documents from the company. Shares in the exercise bike maker, once a pandemic darling, closed down 24% at about $24, wiping off nearly $2.5 billion in market value….
WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen said on Thursday she was confident the Federal Reserve and the Biden administration would take steps needed to bring down inflation over the course of 2022, provided the COVID-19 pandemic is brought under control. “Inflation rose by more than most economists, including me, expected and of course it’s…
SACRAMENTO, Calif. (AP) — Two California counties violated the Constitution’s right to keep and bear arms when they shut down gun and ammunition stores in 2020 as nonessential businesses during the coronavirus pandemic, a federal appeals court ruled Thursday. Officials in Los Angeles and Ventura counties had separately won lower court decisions saying gun stores…
OMAHA, Neb. (AP) — CSX railroad’s fourth-quarter profit jumped 23% even though volume slipped amid the ongoing supply chain challenges. The Jacksonville, Florida-based railroad said Thursday it earned $934 million, or 42 cents per share. That’s up from $760 million, or 33 cents per share, a year earlier. CSX said the number of shipments it…
