Wall St ends lower after choppy trading from rising recession worries

Wall St ends lower after choppy trading from rising recession worries

Apple down after Morgan Stanley cuts Dec shipment target Tesla falls on production loss worries Dec 7 (Reuters) – Wall Street’s main indexes ended broadly lower on Wednesday, after a choppy session where investors struggled to grasp a clear direction as they weighed how the Federal Reserve’s monetary policy tightening might feed through into corporate … Read more

Oil gives up the year’s gains, closing at 2022 low

Oil gives up the year’s gains, closing at 2022 low

Brent crude closes at its lowest level this year U.S. fuel stocks build more than expected China’s relaxation of COVID curbs to support demand Investors wary over recession warnings, rate hike outlook HOUSTON, Dec 7 (Reuters) – The price of oil fell to its lowest level this year on Wednesday, forfeiting all of the gains … Read more

Elon Musk briefly loses title as world’s richest person to LVMH’s Arnault – Forbes

Elon Musk briefly loses title as world’s richest person to LVMH’s Arnault – Forbes

Dec 7 (Reuters) – Twitter owner and Tesla (TSLA.O) boss Elon Musk briefly lost his title as the world’s richest person on Wednesday, according to Forbes, following a steep drop in the value of his stake in the electric-car maker and a $44 billion bet on the social media firm. Bernard Arnault, the chief executive … Read more

California offshore wind auction bids top $460 mln on day two

California offshore wind auction bids top 0 mln on day two

Dec 7 (Reuters) – The first ever auction of offshore wind development rights off the coast of California entered its second day on Wednesday, with high bids topping $460 million. The Biden administration’s sale is a major milestone in the its goal to put turbines along every U.S. coastline and a critical test of developer … Read more

Toyota offers cheaper Prius if customers take software updates

Toyota offers cheaper Prius if customers take software updates

TOKYO, Dec 7 (Reuters) – Toyota Motor Corp’s (7203.T) leasing unit said on Wednesday it will begin offering over-the-air safety updates on the new Prius, betting it can use an approach pioneered by Tesla to cut lease prices and preserve used-car values in Japan. The lease program will require customers to opt in for a … Read more

Trump Organization found guilty of tax fraud scheme

Trump Organization found guilty of tax fraud scheme

NEW YORK, Dec 6 (Reuters) – Donald Trump’s real estate company was convicted on Tuesday of carrying out a 15-year-long criminal scheme to defraud tax authorities, adding to the legal woes facing the former U.S. president as he campaigns for the office again in 2024. The Trump Organization – which operates hotels, golf courses, and … Read more

Ukraine appears to show ability to strike far inside Russia

Ukraine appears to show ability to strike far inside Russia

Third Russian airfield reported hit in drone strike Ukraine’s Zelenskiy meets troops near eastern front Oil price cap gives G7 leverage on Russia – U.S. official Dec 7 (Reuters) – A third Russian airfield was set ablaze by a drone strike, a day after Ukraine demonstrated an apparent new ability to penetrate hundreds of kilometres … Read more

Wall Street dragged by recession fears, S&P on track for 4th decline

Wall Street dragged by recession fears, S&P on track for 4th decline

Meta falls on report of EU concern over targeted ads Energy stocks drop as crude trades at lowest level since Jan Indexes down: Dow 1.39%, S&P 1.78%, Nasdaq 2.22% Dec 6 (Reuters) – Wall Street benchmarks tumbled again on Tuesday, with the S&P 500 on course for a fourth straight decline, as uncertainty around the … Read more

Stocks slide, dollar steady as market gauges Fed’s rate policy

Stocks slide, dollar steady as market gauges Fed’s rate policy

NEW YORK/LONDON, Dec 6 (Reuters) – Global stocks headed for a third straight day of losses on Tuesday and the dollar held steady as the market assesses how long the Federal Reserve keeps interest rates higher and the likelihood that policy provokes a recession. U.S. stocks followed European shares lower, with all sectors in the … Read more

Exclusive: Goldman Sachs on hunt for bargain crypto firms after FTX fiasco

Exclusive: Goldman Sachs on hunt for bargain crypto firms after FTX fiasco

LONDON, Dec 6 (Reuters) – Goldman Sachs (GS.N) plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest. FTX’s implosion has heightened the need for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to … Read more