With Alibaba stake cut, SoftBank’s Son cools toward China tech

A journalist raises her hand to ask a question to Japan’s SoftBank Group Corp Chief Executive Masayoshi Son during a news conference in Tokyo, Japan, November 5, 2018. REUTERS / Kim Kyung-Hoon / File Photo Register now for FREE unlimited access to Reuters.com Register TOKYO, Aug 12 (Reuters) – SoftBank Group Corp’s (9984.T) decision to … Read more

Novelist Salman Rushdie on ventilator after New York stabbing

NEW YORK, Aug 12 (Reuters) – Salman Rushdie, the Indian-born novelist who spent years in hiding after Iran urged Muslims to kill him because of his writing, was stabbed in the neck and torso onstage at a lecture in New York state on Friday and airlifted to a hospital, police said. After hours of surgery, … Read more

Troubled UK economy rides out Jubilee disruption, but recession looms

Bank holidays for queen’s jubilee hit UK GDP in June Output falls 0.6% in June vs forecasts for 1.3% drop UK’s Zahawi says data show resilience, economists see recession LONDON, Aug 12 (Reuters) – Britain’s economy contracted by less than feared in June, when public holidays had been expected to exert a big drag, although … Read more

S&P 500, Nasdaq close up 4th straight week as optimism grows

Nasdaq, S&P 500 post longest weekly win streaks since November S&P 500 recovers 50% of bear market losses S&P 500 is up 17.7% from a mid-June low NEW YORK, Aug 12 (Reuters) – Wall Street closed higher on Friday as signs that inflation may have peaked in July increased investor confidence that a bull market … Read more

Five Chinese state-owned companies to delist from NYSE

SHANGHAI / HONG KONG, Aug 12 (Reuters) – Five Chinese state-owned firms including China Life Insurance (601628.SS) and oil giant Sinopec (600028.SS) said Friday they would delist from the New York Stock Exchange, amid heightened diplomatic and economic tensions with the United States. The companies, which also include Aluminum Corporation of China (Chalco) (601600.SS), PetroChina … Read more

S.Korea’s Yoon pardons Samsung’s Jay Y. Lee to counter ‘economic crisis’

Samsung heir served 18 months in jail for bribery Businessmen were convicted in scandal that felled a president S.Korea says leaders needed to help overcome economic crisis Samsung may increase investment with Lee pardoned – analysts SEOUL, Aug 12 (Reuters) – South Korea’s President Yoon Suk-yeol pardoned Samsung Electronics (005930.KS) Vice Chairman Jay Y. Lee … Read more

Robinhood must face US market manipulation claims over ‘meme stock’ rally, judge rules

The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company’s IPO in New York City, US, July 29, 2021. REUTERS / Andrew Kelly Register now for FREE unlimited access to Reuters.com Register Aug 11 (Reuters) – Stock trading platform Robinhood Markets Inc (HOOD.O) must face market manipulation … Read more

US gasoline prices fall below $ 4 for first time since March

Gasoline demand has waned in the summer Lower-income households spending less as prices dip US retail price hit a record in June Aug 11 (Reuters) – The average price of US retail gasoline fell below $ 4 per gallon on Thursday for the first time in months, giving some relief to drivers in the world’s … Read more

Disney tops Netflix on streaming subscribers, sets higher prices

LOS ANGELES, Aug 10 (Reuters) – Walt Disney Co (DIS.N) edged past Netflix Inc (NFLX.O) with a total of 221 million streaming customers and announced it will increase prices for customers who want to watch Disney + or Hulu without commercials. The media giant will raise the monthly cost of Disney + without advertising by … Read more

Wall Street rally lifts Nasdaq 20% from low as inflation fears ebb

Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, US, August 8, 2022. REUTERS / Andrew Kelly Register now for FREE unlimited access to Reuters.com Register Fed now seen delivering 50 bps hike in September US consumer price growth slows in July Musk sells Tesla shares … Read more