Wall St posts third straight quarterly loss as inflation weighs, recession looms

S&P 500 notches largest September percentage drop in 20 years All three major US stock indexes post three-quarter slumps Core inflation data hotter than expected Indexes down: Dow 1.71%, S&P 1.51%, Nasdaq 1.51% NEW YORK, Sept 30 (Reuters) – The S&P 500 closed the books on its steepest September decline in two decades on Friday, … Read more

Elon Musk set to showcase Tesla’s humanoid robot after delay

SAN FRANCISCO, Sept 30 (Reuters) – Tesla (TSLA.O) CEO Elon Musk has said a robot business will be worth more than its cars, and on Friday investors, customers and potential workers expect to see a prototype at Tesla’s “AI Day “that could prove whether the bot named” Optimus “is ready for work. The robot will … Read more

Exclusive: Brands blast Twitter for ads next to child pornography accounts

Sept 28 (Reuters) – Some major advertisers including Dyson, Mazda, Forbes and PBS Kids have suspended their marketing campaigns or removed their ads from parts of Twitter because their promotions appeared alongside tweets soliciting child pornography, the companies told Reuters. Brands ranging from Walt Disney Co (DIS.N), NBCUniversal (CMCSA.O) and Coca-Cola Co (KO.N) to a … Read more

Bed, Bath & Beyond investors watching merchandise mix during sales slump

NEW YORK, NY, Sept 28 (Reuters) – Bed Bath & Beyond (BBBY.O) investors will be closely watching the home goods retailer’s second quarter earnings on Thursday for clues as to how customers are responding to its merchandise overhaul. The holiday season will be Bed Bath & Beyond’s “make-or-break moment” to show shoppers that its new … Read more

Twitter to interview Elon Musk, known for combative testimony

WILMINGTON, Del., Sept 26 (Reuters) – Billionaire Elon Musk’s tendency to dish out insults while being questioned under oath will be tested anew this week, when lawyers for Twitter Inc (TWTR.N) are expected to interview the Tesla Inc (TSLA .O) CEO about his abrupt decision in July to ditch his $ 44 billion deal for … Read more

Wall Street ends lower, Dow confirms bear market

Register now for FREE unlimited access to Reuters.com Register Fed rate hikes have investors ‘throwing in the towel’ Casinos jump as Macau allows tour groups after nearly 3 years Indexes: Dow -1.11%, S&P 500 -1.03%, Nasdaq -0.60% Sept 26 (Reuters) – Wall Street slid deeper into a bear market on Monday, with the S&P 500 … Read more

EXCLUSIVE China sends regulators to Hong Kong to assist US audit inspection-sources

A Chinese national flag flutters outside the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China July 9, 2021. REUTERS / Tingshu Wang Register now for FREE unlimited access to Reuters.com Register HONG KONG, Sept 22 (Reuters) – Beijing has sent a team of regulatory officials to Hong Kong to assist … Read more

Elon Musk faces skeptics as Tesla gets ready to unveil ‘Optimus’ robot

SAN FRANCISCO, Sept 20 (Reuters) – Tesla (TSLA.O) Chief Executive Elon Musk blamed overreliance on factory robots for sending the electric carmaker to “production hell” four years ago, saying humans were better at certain jobs. My, how times have changed. Musk’s Texas company now is floating ambitious plans to deploy thousands of humanoid robots, known … Read more

Frugal is the new cool for young Chinese as economy falters

BEIJING, Sept 19 (Reuters) – Before the pandemic, Doris Fu imagined a different future for herself and her family: new car, bigger apartment, fine dining on weekends and holidays on tropical islands. Instead, the 39-year old Shanghai marketing consultant is one of many Chinese in their 20s and 30s cutting spending and saving cash where … Read more

US retail sales unexpectedly rise, but inflation hampering spending

Retail sales increase 0.3% in August July data revised down to show sales falling 0.4% Core retail sales unchanged; July sales revised lower Weekly jobless claims fall 5,000 to 213,000 Manufacturing production edges up 0.1% in August WASHINGTON, Sept 15 (Reuters) – US retail sales unexpectedly rebounded in August as Americans ramped up purchases of … Read more