U.S. stocks drop on recession fears, Nasdaq closes at new bear market low

U.S. stocks drop on recession fears, Nasdaq closes at new bear market low

Tesla gains 3.3% in choppy trade Southwest Airlines slips 5.2% on government scrutiny Indexes down: Dow 1.1%, S&P 500 1.20%, Nasdaq 1.35% Dec 28 (Reuters) – Wall Street’s main indexes ended weaker on Wednesday, with the Nasdaq hitting a 2022 closing low, as investors grappled with mixed economic data, rising COVID cases in China, and … Read more

Chinese firms avert delisting as U.S. audit watchdog gets full inspection access

Chinese firms avert delisting as U.S. audit watchdog gets full inspection access

NEW YORK/HONG KONG/WASHINGTON, Dec 15 (Reuters) – The U.S. accounting watchdog on Thursday said it has full access to inspect and investigate firms in China for the first time ever, removing the risk that around 200 Chinese companies could be kicked off U.S. stock exchanges. The statement from the Public Company Accounting Oversight Board (PCAOB) … 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

Google must remove ‘manifestly inaccurate’ data, EU top court says

Google must remove ‘manifestly inaccurate’ data, EU top court says

LUXEMBOURG, Dec 8 (Reuters) – Alphabet unit Google (GOOGL.O) must remove data from online search results if users can prove it is inaccurate, Europe’s top court said on Thursday. Free speech advocates and supporters of privacy rights have clashed in recent years over people’s “right to be forgotten” online, meaning that they should be able … 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

S&P 500 ends down as Apple dips and traders eye Powell speech

S&P 500 ends down as Apple dips and traders eye Powell speech

Investors look to Powell speech for interest rate clues U.S. consumer confidence slips in November S&P 500 -0.16%, Nasdaq -0.59%, Dow +0.01% Nov 29 (Reuters) – The S&P 500 ended down on Tuesday, with losses in Apple and Amazon ahead of an upcoming speech by U.S. Federal Reserve Chair Jerome Powell that could provide hints … 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

Russian court upholds $33 mln fine against Google

Russian court upholds $33 mln fine against Google

Nov 24 (Reuters) – An arbitration court in Moscow has upheld a 2-billion rouble ($33 million) fine against Google issued by Russia’s federal anti-monopoly service over the company’s decision to block some YouTube channels, the RIA Novosti news agency reported, citing a court decision. Reporting by Reuters; Editing by Kevin Liffey Our Standards: The Thomson … Read more

Google to pay nearly $400 million to settle U.S. location-tracking probe

Google to pay nearly $400 million to settle U.S. location-tracking probe

WASHINGTON, Nov 14 (Reuters) – Alphabet’s Google (GOOGL.O) will pay $391.5 million to settle allegations by 40 states that the search and advertising giant illegally tracked users’ locations, the Michigan attorney general’s office said Monday. The investigation and settlement, which was led by Oregon and Nebraska, is a sign of mounting legal headaches for the … Read more

Elon Musk says ‘I have too much work on my plate’

Elon Musk says ‘I have too much work on my plate’

NUSA DUA, Indonesia, Nov 14 (Reuters) – Billionaire Elon Musk said on Monday he was working “at the absolute most amount…from morning til night, seven days a week” when asked about his recent acquisition of Twitter and his leadership of automaker Tesla Inc (TSLA.O). “I have too much work on my plate that is for … Read more