Reuters | January 20, 2023
By Divya Chowdhury and Savio Shetty DAVOS, Switzerland (Reuters) – Ingka Group, the owner of most IKEA stores, sees demand in Europe to continue rising in the current fiscal year, driven by strong demand for home furnishings that has outlasted coronavirus lockdowns, the company’s CEO said. “We are right now optimistic that this would be […]
Reuters | January 12, 2023
By Luc Cohen NEW YORK (Reuters) -Sam Bankman-Fried said he did not steal money and blamed the collapse of his now-bankrupt FTX exchange on a broad crash in cryptocurrency markets, in a highly unusual blog post on Thursday, a month after his arrest on U.S. fraud charges. Federal prosecutors in Manhattan in December said Bankman-Fried […]
Reuters | January 9, 2023
By David Randall NEW YORK (Reuters) -World stocks rallied on Monday to their highest levels since mid-December after China reopened its borders while benchmark Treasury yields drifted lower as investors scaled back expectations for further rate hikes by the Federal Reserve. The gains were broad across global equity markets, with Europe’s STOXX 600 near a […]
Reuters | December 21, 2022
By Richard Cowan and Gram Slattery WASHINGTON (Reuters) -A $1.66 trillion government spending bill drew overwhelming bipartisan support in the U.S. Senate on Tuesday as lawmakers steered it toward passage before a weekend deadline to avoid a partial shutdown of federal agencies. Democratic and Republican negotiators agreed early Tuesday morning on the sweeping bill to […]
Reuters | December 14, 2022
By Angus Berwick, John Shiffman and Koh Gui Qing (Reuters) – In mid-2020, FTX’s chief engineer made a secret change to the cryptocurrency exchange’s software. He tweaked the code to exempt Alameda Research, a hedge fund owned by FTX founder Sam Bankman-Fried, from a feature on the trading platform that would have automatically sold off […]
Reuters | December 13, 2022
By Timothy Gardner WASHINGTON (Reuters) -The U.S. Department of Energy on Tuesday will announce that scientists at a national lab have made a breakthrough on fusion, the process that powers the sun and stars that one day could provide a cheap source of electricity, three sources with knowledge of the matter said. The scientists at […]
Reuters | December 12, 2022
By Timothy Aeppel (Reuters) – Will a robot ever make your blue jeans? There is a quiet effort underway to find out — involving clothing and technology companies, including Germany’s Siemens AG and Levi Strauss & Co. “Clothing is the last trillion-dollar industry that hasn’t been automated,” said Eugen Solowjow, who heads a project at […]
Reuters | December 7, 2022
By David French (Reuters) – Wall Street ended lower on Tuesday, with the S&P 500 extending its losing streak to four sessions, as skittish investors fretted over Federal Reserve rate hikes and further talk of a looming recession. Meta Platforms Inc dragged down markets, with its shares sliding 6.8% following reports that European Union regulators […]
Reuters | November 29, 2022
By Diane Bartz WASHINGTON (Reuters) – Kroger CEO Rodney McMullen and Albertsons’ top executive, Vivek Sankaran, will face questions this week on plans for the two giant grocery companies to merge in a $25 billion deal, Senator Amy Klobuchar’s office said in a statement. The hearing was called by Klobuchar along with Senator Mike Lee, […]
Reuters | November 23, 2022
By Diane Bartz WASHINGTON (Reuters) – Top Senate Republican Chuck Grassley urged Elon Musk, who recently acquired Twitter, to conduct a threat assessment at the social company to better protect U.S. user data, following up on concerns raised by a whistleblower. Hacker Peiter “Mudge” Zatko, a whistleblower who served as Twitter’s head of security until […]