Wall Street falls fourth straight day as recession worries nag

Wall Street falls fourth straight day as recession worries nag

Dec 19 (Reuters) – Wall Street equities closed lower on Monday for a fourth straight session with Nasdaq leading declines as investors shied away from riskier bets, worried the Federal Reserve’s tightening campaign could push the U.S. economy into a recession. The three major U.S. stock indexes have been pressured since Wednesday, when Fed Chair … Read more

As China seeks to live with the virus, COVID-control industries face decline

As China seeks to live with the virus, COVID-control industries face decline

BEIJING, Dec 16 (Reuters) – Like most Chinese, Beijing resident Wang was happy and relieved when she heard last week that China was dropping almost all of its zero-COVID policy curbs. A day later though, the 43-year-old lost her job as one of the city’s many hazmat-suited COVID swab testers. “The leader of our group … Read more

Biden blacklists China’s YMTC, crackdowns on AI chip sector

Biden blacklists China’s YMTC, crackdowns on AI chip sector

WASHINGTON, Dec 15 (Reuters) – The Biden administration on Thursday added Chinese memory chipmaker YMTC and 21 “major” Chinese players in the artificial intelligence chip sector to a trade blacklist, broadening its crackdown on China’s chip industry. YMTC, long in the crosshairs of the U.S. government, was added to the list over fears it could … Read more

Exclusive: Musk’s banks to book Twitter loan losses, avoid big hits

Exclusive: Musk’s banks to book Twitter loan losses, avoid big hits

NEW YORK, Dec 13 (Reuters) – Some of the banks that lent Elon Musk $13 billion to buy Twitter are preparing to book losses on the loans this quarter, but they are likely to do so in a way that it does not become a major drag on their earnings, according to three sources with … Read more

Microsoft to buy 4% stake in London Stock Exchange

Microsoft to buy 4% stake in London Stock Exchange

Dec 12 (Reuters) – Microsoft (MSFT.O) is to take a 4% equity stake in London Stock Exchange Group (LSEG.L) as part of a 10-year commercial deal to migrate the exchange operator’s data platform into the cloud, the British company said on Monday. It is the latest sign of deepening ties between financial services providers and … Read more

S&P 500 snaps losing streak on jobless claims rise

S&P 500 snaps losing streak on jobless claims rise

Weekly jobless claims rise in line with estimates Moderna, Pfizer up as FDA authorizes updated COVID boosters Exxon climbs after boosting buyback program Dec 8 (Reuters) – The S&P 500 (.SPX) closed higher on Thursday, snapping a five-session losing streak, as investors pushed the index higher after interpreting data showing a rise in weekly jobless … Read more

Pentagon splits $9 billion cloud contract among Google, Amazon, Oracle and Microsoft

Pentagon splits $9 billion cloud contract among Google, Amazon, Oracle and Microsoft

Dec 7 (Reuters) – The Pentagon awarded $9 billion worth of cloud computing contracts to Alphabet Inc’s Google (GOOGL.O), Amazon Web Services Inc (AMZN.O), Microsoft Corp (MSFT.O) and Oracle Corp <ORCL.N> on Wednesday. The Joint Warfighting Cloud Capability (JWCC) is the multi-cloud successor to the Joint Enterprise Defense Infrastructure (JEDI), which was an IT modernization … Read more

Wall Street ends down sharply, hit by Apple and China worries

Wall Street ends down sharply, hit by Apple and China worries

Cyber Monday spending to hit $11.6 bln – report Crypto shares fall on BlockFi bankruptcy filing Biogen down after death in Alzheimer drug trial Indexes end: S&P 500 -1.54%, Nasdaq -1.58%, Dow -1.45% Nov 28 (Reuters) – U.S. stocks ended sharply lower on Monday after protests in major Chinese cities against strict COVID-19 policies sparked … Read more

France, Germany, Spain agree on moving on with FCAS warplane development – Berlin

France, Germany, Spain agree on moving on with FCAS warplane development – Berlin

BERLIN/PARIS, Nov 18 (Reuters) – France, Germany and Spain have reached agreement on starting the next phase of development of a new fighter jet dubbed FCAS, Europe’s largest defence project at an estimated cost of more than 100 billion euros($103.4 billion), the German government said on Friday. The Defence Ministry said in a statement that … Read more

China’s NetEase tumbles after ending 14-year gaming deal with Blizzard

China’s NetEase tumbles after ending 14-year gaming deal with Blizzard

Nov 17 (Reuters) – Blizzard Entertainment (ATVI.O) said on Thursday it will no longer offer games such as ‘World of Warcraft’ and ‘Hearthstone’ in China from next year once its deal with NetEase (9999.HK) ends, prompting shares in the Chinese internet giant to tumble. California-based Blizzard said it was unable to reach a deal with … Read more