After a day on which US-listed Chinese stocks had exploded 33 per cent higher and the Hang Seng Technology Index had staged its biggest ever one-day gain, a veteran Asia investor at one of the world’s largest hedge funds called last Thursday to declare a turning point. The scale of the rally was welcome and […]
CHICAGO (WLS) — Millionaire businessman and ex-mayoral candidate Willie Wilson plans to donate $1 million in free gas next week, after his free gas giveaway Thursday snarled traffic across the city but provided $200,000 worth of fill-ups. Wilson said Friday he plans to donate $1 million in free gas next Thursday, March 24, at 50 […]
March 18 (Reuters) – A number of Uber (UBER.N) and Lyft (LYFT.O) drivers are considering quitting the app-based ride-hailing platforms as fueling up becomes costlier, with some calling the newly announced surcharges “insulting” . The companies announced this month a 55-cent per-ride surcharge that would be paid directly to drivers, in response to record gas […]
Tesla’s (TSLA) – Get Tesla Inc Report bad week is ending on a positive note. Earlier this week, Tesla announced price increases across its entire range of vehicles. It was the electric vehicle maker’s second price increase this month after it increased the cost of some of its long-range models last week. Inflation is driving […]
Papa John’s is facing backlash on social media once again: This time, it’s over an owner’s decision to keep stores open in Russia during the country’s war on Ukraine. Independent franchise owner Christopher Wynne is refusing to close nearly 200 stores in Russia, even after the company said it would suspend all corporate operations there […]
MacKenzie Scott has donated $281 million to Boys & Girls Clubs of America and 62 local Boys & Girls Clubs around the country, the 160-year-old nonprofit announced Thursday. It is the largest public gift Scott has given so far. Scott directed $25 million of the total to the organization’s national office in Atlanta and the […]
(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Most Read from Bloomberg The Federal Reserve’s pivot to fighting inflation was cast into sharp relief on Friday as the central bank’s hawkish wing urged a faster pace of policy tightening and a onetime dove said there […]
Cargo ships are accumulating at one of China’s busiest ports after another Covid-19 outbreak shut down factories and warehouses in Shenzhen, raising the prospect of a new round of bottlenecks that could push up freight rates and slow deliveries. There are more than 35 ships waiting to dock in Shenzhen and another 30 farther north […]
Cargo ships are accumulating at one of China’s busiest ports after another Covid-19 outbreak shut down factories and warehouses in Shenzhen, raising the prospect of a new round of bottlenecks that could push up freight rates and slow deliveries. There are more than 35 ships waiting to dock in Shenzhen and another 30 farther north […]
It’s increasingly expensive to buy a home: Not only are housing prices increasing by double-digits annually, but mortgage rates have been on the rise and this week topped 4% for the first time since May 2019. That’s pushing more buyers to take out adjustable -rate mortgages — one of the financial products blamed for the […]
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