(Reuters) -GameStop reported a decline in its first-quarter net sales as it advanced its quarterly report by four days and announced a more than $3 billion stock offer, sending the video games retailer’s shares down 10% before the bell on Friday. The company, which largely relies on brick-and-mortar stores and has been grappling with customers […]
(Reuters) – U.S. job growth accelerated far more than expected in May, keeping the Federal Reserve on track to hold off starting to cut interest rates. The Labor Department said on Friday that the unemployment rate ticked up to 4.0% for the first time since January 2022, while nonfarm payrolls increased by 272,000 jobs last […]
By Andrew Goudsward WASHINGTON (Reuters) – Steve Bannon, a former top adviser to Donald Trump, must report to prison by July 1 to serve a four-month sentence for contempt of Congress, a federal judge said on Thursday. The decision means Bannon, a right-wing media firebrand who maintains influence in Trump’s orbit, will likely be behind […]
LONDON (Reuters) – Amazon is facing a one billion-pound ($1.3 billion) collective lawsuit from British retailers who allege that the online marketplace misused their data to boost its own market share and profits. The British Independent Retailers Association (BIRA), an umbrella body grouping numerous small traders, was due to file the lawsuit on behalf of […]
By Arathy Somasekhar and Erwin Seba HOUSTON (Reuters) – Element Fuels Holdings, a Dallas-area startup proposing to build the first all-new U.S. oil refinery in nearly 50 years, on Thursday said it was relaunching efforts to build a large plant in South Texas. The Brownsville, Texas, project has been proposed by entrepreneur John Calce at […]
By Bhanvi Satija and Julie Steenhuysen (Reuters) – An FDA analysis of trial data for Eli Lilly’s experimental Alzheimer’s drug donanemab released on Thursday revealed no red flags, but raised questions about safety of the treatment for patients with early-stage disease. The drug is a potential rival to Eisai and Biogen’s Leqembi, which won approval […]
By Manya Saini (Reuters) -Trading platform Robinhood Markets said on Thursday it has agreed to buy crypto exchange Bitstamp for about $200 million in cash, speeding up a broader push into digital assets with its biggest-ever deal. Robinhood, whose shares were up 3.4% before the bell, has been looking to expand its product offerings to […]
By Joey Roulette (Reuters) -SpaceX’s giant Starship rocket launched from south Texas on Thursday for its fourth test toward space to execute a tricky primary objective: survive a blazingly hot re-entry through Earth’s atmosphere, the violent phase where the rocket broke apart during its last attempt. The two-stage spacecraft, consisting of the Starship cruise vessel […]
LONDON (Reuters) – Precious metals company MKS PAMP Group, which owns refineries in Switzerland and India, has repurposed an aviation hangar in Florida, taken on lease, for a silver mint in a bet on strong North American investment demand, it said on Thursday. The move by the group, which also owns a precious metals trading […]
By Lewis Krauskopf NEW YORK (Reuters) – A rally that has propelled U.S. equities to record highs increasingly rests on red-hot chipmaker Nvidia and a handful of other giant stocks, reviving concerns that the market’s performance has become tied to a cluster of companies. About 60% of the S&P 500’s total return of more than […]
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