Taiwan threatens to take China to the World Trade Organization. China has suspended imports of grouper fish from Taiwan. It is the latest agricultural spat between the two over pests and Taiwan’s pineapples. Taipei and Beijing’s relations are at their lowest in decades. Taiwan’s administration took steps to take Beijing to the World Trade Organization … Read more
Apple will allow different payment methods in Dutch dating applications, ending a dispute that resulted in the company being fined 50 million euros ($52.58 million). Apple will meet the requirement that the regulator had set under European Union and Dutch competition rules. The Authority for Consumers and Markets (AMC) said in a statement. The Netherlands’ … Read more
Sheryl Sandberg’s use of company resources is under investigation by Facebook-parent Meta Platforms, WSJ reports. Several employees have been interviewed in connection with the probe, sources say. The probe has been underway since at least last fall, sources tell the Wall Street Journal. Attorneys are examining Meta Platforms Inc’s cordial activities boss Sheryl Sandberg’s utilization … Read more
JetBlue CEO says he is “optimistic” he can reach a deal to acquire Spirit Airlines. Florida-based ultra-low-cost carrier Spirit is the subject of a bidding war between JetBlue and Frontier. Spirit has repeatedly rejected JetBlue’s offer. JetBlue Airways Corp (JBLU.O) Chief Executive Robin Hayes said Friday he is “hopeful” he can arrive at an arrangement … Read more
A group submitted evidence of an attack on a Ukrainian school via Telegram to the International Criminal Court. The group, Starling Lab, uses the blockchain technology behind cryptocurrencies to preserve and verify the information. It says it’s the first submission of evidence of its kind to any court of law. In early March, a Telegram … Read more
Stocks fell on Friday after the May consumer price index showed hotter-than-expected inflation numbers. Among the stocks that fell were Stitch Fix and DocuSign, which Cramer highlighted as two names that illustrate his warning against investing in former high-flyers. Stocks fell on Friday after the May consumer price index showed hotter-than-expected inflation numbers. Among the … Read more
Revlon had long-term debt of $3.31 billion, as of end-March, and faces stiff competition from digital-native upstart brands. The lipstick maker began talks with lenders ahead of looming debt maturities to try to steer the business clear of bankruptcy. Revlon, whose shares declined 46%, did not immediately respond to a Reuters request for comment. Beauty … Read more
The travel industry has been pushing for an end to the policy, which they say has deterred bookings. The change comes into effect on Sunday. The CDC will re-evaluate the policy in 90 days and could reinstate the rule if new variants make officials believe it is necessary. The US will never again require air … Read more
Disabled passengers have been left waiting hours on planes for help to get off, the CAA has said. The industry has been struggling with staff shortages after the pandemic and post-cancellation travel restrictions. Civil Aviation Authority: Some recent incidents were “unacceptable”. Air terminals should quit bombing disabled travelers or they could confront legitimate activity, the … Read more
Lockheed Martin Corp expects to produce its new-build F-16 fighter jets next year and commence deliveries in 2024. The company has a list of key U.S. allies including Bahrain, Taiwan, Slovakia, and Jordan eager to purchase the jet. Lockheed Martin’s chief financial officer Jesus Malave said on Wednesday. Lockheed Martin Corp (LMT.N) hopes to create … Read more
Bank of Mexico Deputy Governor Jonathan Heath says rate hike likely at June 23 meeting. Inflation rose 7.65% in the 12 months through May, far above the central bank’s target. Banxico has an inflation target of 3% plus or minus one percentage point. Bank of Mexico Deputy Governor Jonathan Heath said on Friday that the … Read more
US stocks posted their biggest weekly percentage declines since January. Tech and growth stocks, whose valuations rely more heavily on future cash flows, led the decline. The steeper-than-expected rise in U.S. consumer prices fueled fears of more aggressive interest rate hikes. U.S. stocks posted their greatest week-after-week rate declines since January and finished forcefully lower … Read more
A former top seller for Amazon in India has accused India’s antitrust agency of illegally detaining its employees. Cloudtail was among a handful of online sellers raided in an investigation of Amazon and Walmart’s (WMT.N) Flipkart over suspected preferential treatment on e-commerce platforms. A previous top merchant for Amazon (AMZN.O) in India, Cloudtail, has blamed … Read more
The Competition and Markets Authority (CMA) is also taking enforcement action against Alphabet Inc’s Google over its app store payment practices. It said the two tech giants had an “effective duopoly” on mobile ecosystems that gave them a stranglehold on operating systems, app stores, and web browsers. England’s opposition guard dog said it was intending … Read more
The benchmark S&P 500 index fell nearly 3% on Friday. Yields on the benchmark 10-year Treasury hit their highest level since early May. Stronger-than-expected inflation data ramped up forecasts for more aggressive Fed rate hikes later this year. Rankling expansion is taking steps to reignite twin decreases in U.S. stocks and bonds, passing on financial … Read more
Fed policymakers had already all but promised half-point interest rate hikes at their meeting next week and again in late July. That would be more policy tightening in the space of three months than the Fed did in all of 2018. The central bank could even ditch its own forward guidance. Tenaciously hot U.S. expansion … Read more
Electric-vehicle maker Tesla Inc (TSLA.O) on Friday proposed a stock split at a three-to-one ratio in the form of a stock dividend. Larry Ellison, Oracle Corp’s co-founder and a self-proclaimed close friend of Tesla Chief Executive Officer Elon Musk, will not stand for re-election to Tesla’s board. Electric vehicle producer Tesla Inc (TSLA.O) on Friday … Read more
U.S. consumer inflation accelerated in May as oil prices hit a record high. The cost of food soared, leading to the largest annual increase in four decades. A gallon of regular gasoline costs an average of $4.99 nationwide on Friday, according to AAA. U.S. President Joe Biden on Friday charged the U.S. oil industry, and … Read more
