Shares of Bed Bath & Beyond dropped drastically on Jan. 5 after the company warned it is considering bankruptcy amid mounting debt and waning finances, noting that there is “substantial doubt” that the retailer will be able to continue. The company issued the warning in its estimated financial results for the three months ending Nov. 26,…
Bed Bath & Beyond Shares Tumble as Company Says ‘Substantial Doubt’ It Can Continue
DOJ to Seize $465 Million of Robinhood Shares Tied to Bankman-Fried
U.S. prosecutors are in the process of seizing shares of Robinhood Markets Inc. tied to Sam Bankman-Fried, who has been charged with fraud in the collapse of the FTX cryptocurrency exchange, a U.S. attorney told a judge on Wednesday. The Department of Justice did not believe the 56 million shares of Robinhood, worth about $465…
Wall Street Opens Lower as Labor Data Fans Rate Hike Fears
Wall Street’s main indexes opened lower on Thursday after further evidence of a strong labor market spurred worries that the Federal Reserve could keep raising interest rates for longer than expected. The Dow Jones Industrial Average fell 78.05 points, or 0.23 percent, at the open to 33,191.72. The S&P 500 opened lower by 13.23 points,…
Dollar Wavers After Fed Minutes Offer Few Surprises
LONDON/SINGAPORE—The dollar was roughly flat in choppy trading on Thursday after the release of the latest Federal Reserve minutes. Details of the discussion from the central bank’s December policy meeting, released on Wednesday, showed policymakers remain focused on curbing inflation and do not envisage interest rate cuts in 2023. Analysts said the minutes were broadly…
Oil Rebounds After Biggest Drop in Decades at Start of Year
January 5, 2023
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LONDON—Oil rebounded over 2 percent on Thursday after posting the biggest two-day loss for the start of a year in three decades with the shutdown of a U.S. fuel pipeline providing support, though economic concerns capped gains. Big declines in the previous two days were driven by worries about a global recession, especially since short-term…
Global Shares Rise as Sentiments Get Boost From Fed, US Jobs
January 5, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares mostly rose Thursday following a rally on Wall Street as investors assessed minutes from the Federal Reserve’s latest meeting of policymakers and welcomed encouraging data on U.S. jobs. France’s CAC 40 lost 0.6 percent to 6,736.01 in early trading, while Germany’s DAX fell 0.4 percent to 14,438.94. Britain’s FTSE 100 edged up 0.1…
Amazon Announces 18,000 Job Cuts
Amazon informed staff on Wednesday that it plans to cut 18,000 jobs amid slowing consumer and corporate spending. The cuts include workforce reductions already announced in November. The company had previously flagged that it would make additional cuts this year. “Today, I wanted to share the outcome of these further reviews, which is the difficult decision…
Stocks End Higher After Fed Meeting Minutes, Strong Job Data
Stocks on Wall Street closed broadly higher Wednesday after wavering for much of the day as investors weighed the minutes from the Federal Reserve’s latest meeting of policymakers and welcomed encouraging data on job openings. The major indexes rallied following a government report showing that job openings increased more than expected in November. Stocks then…
Cleantech Stocks Fall Sharply in Energy Upheaval of 2022
News Analysis The year 2022 was one of energy upheaval. In the long run, analysts expect this to work in favour of clean energy, but for now those stocks are taking it on the chin. For two straight years, oil and gas has been the best-performing sector in the stock market, but despite the billions…
Salesforce to Cut 10 Percent of Workforce in Latest Tech Layoffs
January 4, 2023
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Salesforce Inc. plans to cut its workforce by 10 percent and close some offices, saying it needs to cut costs after rapid pandemic hiring left it with “too many people” amid an economic slowdown, sending its shares up 5 percent. The cloud-based software company said on Wednesday it expects between $1.4 billion and $2.1 billion…
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