Traders work on the floor of the New York Stock Exchange, Aug. 22, 2022. Brendan McDermid | Reuters Shares of AMC Entertainment fell sharply in early trading Wednesday after the theater chain said in a filing that it plans to sell up to 40 million new shares to raise cash. The stock was down […]
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Fed’s Collins says policymakers can ‘proceed cautiously’ on future rate hikes
Federal Reserve Bank of Boston President Susan Collins stands behind the Jackson Lake Lodge in Jackson Hole, where the Kansas City Fed holds its annual economic symposium, in Wyoming, August 24, 2023. Ann Saphir | Reuters Boston Federal Reserve President Susan Collins on Wednesday advocated a patient approach to policymaking […]
NFL games are shifting away from traditional TV. Are you ready to stream some football?
Aaron Rodgers, #8 of the New York Jets, warms up prior to the game against the New York Giants at MetLife Stadium in East Rutherford, New Jersey, Aug. 26, 2023. Mike Stobe | Getty Images On any given Sunday, there will be more National Football League games available on streaming […]
Moderna says updated Covid vaccine was effective against highly mutated BA.2.86 variant in trial
Artur Widak | Nurphoto | Getty Images Moderna‘s new Covid vaccine produced a strong immune response against BA.2.86, a highly mutated omicron variant that health officials are watching closely, according to clinical trial data the biotech company released Wednesday. The updated shot produced an 8.7-fold increase in protective antibodies against […]
EU lists Alphabet, Amazon, Meta and three other tech giants as ‘gatekeepers’ under strict competition rules
The logos of Google, Apple, Facebook, Amazon and Microsoft displayed on a mobile phone with an EU flag shown in the background. Justin Tallis | AFP via Getty Images The European Commission on Wednesday said it designated six tech giants as “gatekeepers” under its new Digital Markets Act — a […]
Disney’s wildest ride: Iger, Chapek and the making of an epic succession mess
Illustration by Elham Ataeiazar After pushing back his retirement four times, Bob Iger finally made the leap. On Feb. 25, 2020, he announced he would step down as Disney’s CEO. His hand-picked successor, Bob Chapek, then Disney’s parks chairman, would take over the day-to-day job of running the company, effective […]
Apple buying Disney would be a storybook ending for Iger, but fairy tales aren’t real
About 10 years ago, I invented a rule about covering mergers and acquisitions that still hasn’t failed me. Here it is: Will Apple buy [insert company of your choice here]? –> No. Apple almost never buys name-brand companies. Its largest takeover was 2014’s $3 billion deal for Beats Electronics. Apple […]
Tesla rival Polestar plans own smartphone launch alongside its first electric SUV in China
A Polestar 4 electric SUV is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai) on April 18, 2023 in Shanghai, China. Vcg | Visual China Group | Getty Images MUNICH — Swedish electric vehicle maker Polestar plans to launch a […]
Evergrande soars 70% leading Chinese property stocks higher after Country Garden avoids default
NANJING, CHINA – AUGUST 18, 2023 – Aerial photo shows a residential area of Evergrande in Nanjing, East China’s Jiangsu province, Aug 18, 2023. (Photo by Costfoto/NurPhoto via Getty Images) Getty Images Shares of Chinese property developer Evergrande as much as 82% on Wednesday, leading gains on the Hang Seng […]
Evergrande soars over 70% leading Chinese property stocks higher after Country Garden avoids default
NANJING, CHINA – AUGUST 18, 2023 – Aerial photo shows a residential area of Evergrande in Nanjing, East China’s Jiangsu province, Aug 18, 2023. (Photo by Costfoto/NurPhoto via Getty Images) Getty Images Shares of Chinese property developer Evergrande jumped over 70% on Wednesday, leading gains on the Hang Seng Index. […]