Year: 2023
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Big investors say US markets rally could prove short-lived
By Carolina Mandl, Svea Herbst-Bayliss and David Randall NEW YORK (Reuters) -The recent rally that has lifted U.S. stocks and bonds is more of a year-end rebound than a turning point, according to big money managers, who see fiscal and monetary policies, next year’s presidential election and recession fears as likely to start weighing on…
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S&P 500, Nasdaq close down, ending 5-session winning streaks; retailers, tech weak
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks retreated on Tuesday, with the S&P 500 and Nasdaq snapping five-session winning streaks as retailers declined after some disappointing outlooks and as technology shares fell. Indexes stayed lower after minutes from the latest Federal Reserve meeting showed officials agreed to take a cautious approach to raising…
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Oil edges lower on caution ahead of OPEC+ meeting
By Stephanie Kelly NEW YORK (Reuters) – Oil prices ended near flat on Tuesday after rallying for two sessions, with investors cautious ahead of Sunday’s scheduled OPEC+ meeting, when the producer group may discuss deepening supply cuts due to slowing global economic growth. Brent crude futures settled 13 cents higher at $82.45 a barrel. U.S.…
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Luminar CEO’s deal to buy Forbes called off -memo
By Dawn Chmielewski and Helen Coster (Reuters) -Forbes’ parent company has called off its acquisition by Luminar Technologies CEO Austin Russell, as the billionaire could not come up with the financing, an internal Forbes memo seen by Reuters on Tuesday showed. Earlier this year, the automotive technology executive had agreed to acquire 82% of Forbes…
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Crypto investors cheer talk of Binance criminal probe resolution
By Tom Wilson and Elizabeth Howcroft LONDON (Reuters) – Crypto investors have welcomed the prospect of a resolution of a long-running U.S. criminal investigation into Binance, reckoning any deal that allows the major exchange to continue operating would remove a nagging risk to the wider market. The U.S. Justice Department (DOJ) is seeking over $4…
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US retailers brace for a tough holiday season despite discounts
By Savyata Mishra and Ananya Mariam Rajesh (Reuters) – U.S. retailers across apparel, electronics and home improvement are bracing for a challenging holiday season, a sign that higher discounts might not spark the level of spending the companies are hoping for during their most important period of the year. Economic demand in the United States…
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Walmart bets on parcel stations for quick deliveries to propel holiday sales
(Reuters) -Retail bellwether Walmart on Tuesday said it would be adding parcel stations to its stores as it looks to cash in on demand for quick deliveries heading into the holiday shopping season. The move comes ahead of the critical Cyber Week shopping period encompassing Thanksgiving, Black Friday on Nov. 24 and Cyber Monday on…
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Jeff Bezos expected to sell more Amazon shares worth $1 billion – CNBC
(Reuters) – Amazon.com founder Jeff Bezos is expected to offload more of his stake in the company on Tuesday after selling shares worth about $240 million last week, CNBC reported, citing a source. Bezos may sell as many as 8 million to 10 million shares, amounting to more than $1 billion, the report said. A…
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OpenAI appoints new boss as Sam Altman joins Microsoft in Silicon Valley twist
By Jeffrey Dastin, Anna Tong, Akash Sriram and Krystal Hu SAN FRANCISCO (Reuters) -OpenAI named ex-Twitch boss Emmett Shear as interim CEO, while outgoing chief Sam Altman moved to backer Microsoft, in a surprise turn of events that clouded the future of the startup at the heart of the artificial intelligence boom. The appointments, settled…
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Germany considers suspending debt brake as coalition cracks show
By Markus Wacket and Andreas Rinke BERLIN (Reuters) -German Economy Minister Robert Habeck on Monday criticised sticking to what he called the country’s “inflexible” debt brake and took a swipe at Finance Minister Christian Lindner on prospective subsidy cuts, saying it was “all just talk”. The comments laid bare strains in Chancellor Olaf Scholz’s ruling…