Platoon to cut jobs, close stores and raise prices in company-wide revamp

Platoon to cut jobs, close stores and raise prices in company-wide revamp

Aug 12 (Reuters) – Peloton Interactive Inc (PTON.O) said Friday it would cut jobs, close stores and raise prices for its fitness equipment, including treadmills and high-end bicycles, as it undergoes a company-wide revamp to boost its sales and better cash flow. Shares of the company rose about 11% in afternoon trading after the company … Read more

Five Chinese state-owned companies to be removed from NYSE

Five Chinese state-owned companies to be removed from NYSE

SHANGHAI/HONG KONG, Aug. 12 (Reuters) – Five Chinese state-owned companies, including China Life Insurance (601628.SS) and oil giant Sinopec (600028.SS) said Friday they would delist the New York stock exchange amid heightened diplomatic and economic tensions with the United States. The companies, which also include Aluminum Corporation of China (Chalco) (601600.SS), PetroChina (601857.SS) and Sinopec … Read more

South Korea’s Yoon Pardons Samsung’s Jay Y. Lee to Fight ‘Economic Crisis’

South Korea’s Yoon Pardons Samsung’s Jay Y. Lee to Fight ‘Economic Crisis’

Samsung heir was jailed for 18 months for bribery Businessmen convicted in scandal that fell a president S.Korea says leaders needed to help overcome economic crisis Samsung may increase investment with Lee grace – analysts SEOUL, Aug 12 (Reuters) – South Korea’s President Yoon Suk-yeol pardoned Samsung Electronics (005930.KS) Vice Chairman Jay Y. Lee on … Read more

Robinhood Must Face US Market Manipulation Claims Over ‘Meme Stock’ Rally, Rules of Judgment

Robinhood Must Face US Market Manipulation Claims Over ‘Meme Stock’ Rally, Rules of Judgment

The Robinhood Markets, Inc. logo. can be seen at a pop-up event on Wall Street following the company’s IPO in New York City, US, July 29, 2021. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register Aug 11 (Reuters) – Stock trading platform Robinhood Markets Inc (HOOD.O) must face claims of market manipulation … Read more

Sierra Leone imposes nationwide curfew amid deadly anti-government protests

Sierra Leone imposes nationwide curfew amid deadly anti-government protests

FREETOWN, Aug. 10 (Reuters) – At least two police officers and a civilian have been killed after a day of anti-government protests in Sierra Leone’s capital Freetown, officials at the city’s main morgue said Wednesday. Sierra Leone’s government previously said there had been deaths, but did not say how many, as protesters threw rocks and … Read more

SoftBank’s Alibaba sale could end the taboo on breakup

SoftBank’s Alibaba sale could end the taboo on breakup

Japanese SoftBank Group Corp chief executive Masayoshi Son attends a press conference in Tokyo, Japan, Nov. 5, 2018. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com Register LONDON, Aug. 10 (Reuters Breakingviews) – Masayoshi Son thinks about the unthinkable at SoftBank Group (9984.T). Its $63 billion technology and telecom empire will reduce its … Read more

Musk wants to question Twitter employees who count bots -source

Musk wants to question Twitter employees who count bots -source

An image of Elon Musk can be seen on a smartphone superimposed on printed Twitter logos in this image, taken April 28, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register August 10 (Reuters) – Elon Musk’s legal team demands that Twitter Inc according to a source familiar with the case, the … Read more

Disney surpasses Netflix on streaming subscribers, sets higher prices

Disney surpasses Netflix on streaming subscribers, sets higher prices

LOS ANGELES, Aug. 10 (Reuters) – Walt Disney Co (DIS.N) has passed Netflix Inc (NFLX.O) with a total of 221 million streaming customers and announced it will raise prices for customers who want to watch Disney+ or Hulu without commercials. The media giant will increase the monthly cost of Disney+ without ads by 38% to … Read more

Musk sells Tesla shares worth $6.9 billion, mentions chance of forced Twitter deal

Musk sells Tesla shares worth .9 billion, mentions chance of forced Twitter deal

Tesla CEO Elon Musk attends the groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, China, January 7, 2019. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register Aug. 10 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk sold $6.9 billion worth of shares in the electric vehicle manufacturer, saying the money … Read more

Nasdaq closes lower as chipmaker Micron’s warning revamps tech route

Nasdaq closes lower as chipmaker Micron’s warning revamps tech route

Micron drops due to lower revenue forecast Semiconductor stocks fall for third session Novavax tumbles after halving turnover overview NEW YORK, Aug. 9 (Reuters) – The Nasdaq closed Tuesday after a dismal forecast from Micron Technology pushed chipmakers and technology stocks down as investors await U.S. inflation data that could prompt the Federal Reserve to … Read more