Business News
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. FTX co-founder Gary Wang has avoided prison time after his swift co-operation with prosecutors helped seal the criminal conviction of the crypto exchange’s other founder Sam Bankman-Fried. At a hearing on Wednesday, judge Lewis Kaplan … Read more
It’s shaping up to be a crazy busy Thanksgiving travel season. And Uber is hoping to take advantage of that. The ride-sharing service has announced a number of new products and services for people trying to get from the airport to the homes of friends and family that it claims will help them save money—or … Read more
Amidst the debate on high food inflation and the need for interest rate cuts to support growth, as enunciated by two Cabinet ministers, core inflation has also been recording an uptick in recent months. Core inflation measures the change in prices of goods and services excluding that in food and fuel from CPI inflation. “Historically, core inflation … Read more
Comcast (CMCSA) confirmed plans to spin off most of its cable networks into a new, publicly traded company as it and others in the industry grapple with more consumers cutting the cord. The yet-to-be-named SpinCo will house most of NBCUniversal’s cable television networks, including USA Network, CNBC, MSNBC, Oxygen, E!, SYFY, and Golf Channel. Those … Read more
Invesco Variable Rate Investment Grade ETF declares monthly distribution of $0.1204
Check out what’s clicking on FoxBusiness.com. Target shares tumbled on Wednesday after the retailer severely missed Wall Street’s quarterly earnings estimates and cut its full-year profit guidance. The retailer’s stock fell 19% during morning trading after it said it’s taking a more cautious stance for the most critical quarter in the retail industry after seeing … Read more
In a remarkable display of market confidence, TLGY Acquisition Corp’s stock has soared to an all-time high, hitting a price level of $11.65. This peak represents a significant milestone for the company, reflecting a robust 1-year change of 5.43%. Investors have shown increasing enthusiasm for TLGY’s prospects, driving the stock to new heights and signaling … Read more
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Ukraine has launched British-made Storm Shadow missiles at military targets in Russia for the first time, according to three people familiar with the matter. The attack follows Ukraine’s first use of US long-range Atacms … Read more
Ford Motor Co. will look to eliminate another 4,000 positions in Europe, further retrenching within a region where the transition to electric vehicles is losing traction industrywide. The reductions — which amount to about 14% of Ford Europe’s workforce — will primarily hit operations in Germany and the UK by the end of 2027, pending … Read more
The Indian government is currently reviewing a request to impose a temporary tax on steel imports from China, according to JSW Group Chairman Sajjan Jindal. He mentioned that the regulatory approval for the initial public offering (IPO) of JSW’s cement business could be obtained by the end of January. Speaking at an industry event in … Read more