Wall Street closed lower after choppy trading on rising recession fears

Apple drops after Morgan Stanley cut its December shipping target Tesla falls into production loss fears (Reuters) – Wall Street’s major indexes closed broadly lower on Wednesday, after a choppy session in which investors struggled to grasp a clear direction as they weighed how the Federal Reserve’s monetary tightening could feed into US companies. S&P … Read more

First TVs, now tortilla chips: American companies set minimum prices to stop discounting

NEW YORK, Nov. 17 (Reuters) – Makers of everything from toys to wafers are increasingly placing minimum prices on their items to maintain profits and limit price cuts as retailers like Wal-Mart do so. (WMT.N) and Amazon.com Inc (AMZN.O) Trying to attract sales from each other over the Internet. As a result, shoppers are faced … Read more

Amazon has laid off some hardware unit employees as it targets 10,000 cuts

November 16 (Reuters) – Amazon.com Inc (AMZN.O) The company said on Wednesday it had laid off some employees in its hardware group, with a person familiar with the company saying it was still targeting about 10,000 jobs, including in its retail and human resources divisions. The announcement, the first for Amazon since media outlets including … Read more

G20 summit condemns war in Ukraine ‘in the strongest terms’

G20 says “most members” condemn war in Ukraine Declaration of the threat of use of nuclear weapons Convention for the standardization of monetary tightening NUSA DUA, Indonesia (Indonesia) (Reuters) – G20 leaders denounced Russia’s aggression against Ukraine “in the strongest terms” on Wednesday and demanded its unconditional withdrawal in a declaration adopted at the end … Read more

Trump’s 2024 presidential bid was a new wrinkle for the markets

NEW YORK (Reuters) – Former President Donald Trump’s entry into the 2024 presidential race on Tuesday confirmed the world’s “worst-kept secrets” and created another variable for markets that some investors say remains a low priority for now. Trump, who has launched relentless attacks on voting integrity in the United States since his defeat in the … Read more

Biden and Xi prepare to meet ahead of Ukraine-overwhelmed G20 summit

NUSA DUA, Indonesia (Reuters) – Chinese leader Xi Jinping arrived on the Indonesian island of Bali on Monday for a long-awaited meeting with U.S. President Joe Biden ahead of a set to be perilous summit of the Group of 20 nations. With tension due to the Russian invasion of Ukraine. The two leaders are expected … Read more

Ukraine’s Kherson races to restore energy and water after Russia’s withdrawal

The humanitarian situation in Kherson is “extremely difficult” – official Authorities are working to restore vital services Joy mixes with concerns about water and energy for Kherson residents Residents recount the violations committed by the occupation forces Fighting rages in Donetsk and eastern Luhansk regions Kherson, Ukraine (Reuters) – Public utilities companies in Kherson are … Read more

COVID public health emergency in the US to stay in place

Two Biden administration officials said Friday that the United States will maintain a public health emergency for the COVID-19 pandemic, allowing millions of Americans to get free tests, vaccines and treatments. One of the officials said the possibility of an increase in coronavirus cases in the winter and the need for more time to transition … Read more

Exclusive: Tesla considering exporting Chinese-made electric cars to US sources

SHANGHAI, November 11 (Reuters) – TESLA (TSLA.O) Two people familiar with the planning are considering exporting electric cars made in China to the United States, a reversal that would reflect the automaker’s deep cost advantage at its Shanghai plant and sluggish demand from Chinese consumers. Tesla is studying whether parts made by its suppliers in … Read more

Musk warns of Twitter bankruptcy as more CEOs resign

(Reuters) – Twitter’s new owner Elon Musk on Thursday raised the possibility of the social media platform’s bankruptcy, capping a chaotic day that included a warning from the US privacy regulator and the exit of the company’s trust and safety leader. In his first conference call with employees, the billionaire said he couldn’t rule out … Read more