Musk warns of Twitter bankruptcy as more senior executives quit

Nov 10 (Reuters) – Twitter’s new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a US regulator and departures of senior executives viewed as future leaders. The billionaire told Twitter employees on a call that he could not rule … Read more

Twitter lays off staff as Musk blames activists for ‘massive’ ad revenue drop

Musk looking to ax around half of Twitter’s workforce Employees file class action against Twitter Staff lose access to systems Volkswagen pulls ads Nov 4 (Reuters) – Twitter Inc started a major round of layoffs on Friday, alerting employees of their job status by email after barring the entrances to offices and cutting off workers’ … Read more

Adidas ends Kanye West partnership over anti-Semitism, hate speech

Adidas ends partnership immediately To take ~$250 mln hit to 2022 net income Adidas sole owner of design rights Oct 25 (Reuters) – Adidas AG (ADSGn.DE) is immediately terminating its partnership with Kanye West, the sporting goods maker said on Tuesday, reacting to a rash of offensive behavior from the American rapper and designer. The … Read more

OPEC cut spurs US hedging – but against lower oil prices

NEW YORK, Oct 10 (Reuters) – The decision by the Organization of the Petroleum Exporting Countries and allies last week to cut oil production has spurred a flurry of activity in the options market – but with more US bettors opting for a bearish stance, data from CME Group showed. OPEC+, as the group is … Read more

Indonesia soccer stampede kills 125 after police use tear gas in stadium

More than 320 injured during crowd stampede Indonesia football association suspends league to investigate Police say they fired tear gas to control crowd MALANG, Indonesia, Oct 2 (Reuters) – A stampede at a soccer stadium in Indonesia has killed 125 people and injured more than 320 after police police used tear gas to quell a … Read more

Volkswagen expected to rubber-stamp landmark Porsche IPO plan -source

Attendees look at the 2022 Porsche 718 Cayman GT4 RS during the 2021 LA Auto Show in Los Angeles, California, U.S. November 17, 2021. REUTERS/Ringo Chiu Register now for FREE unlimited access to Reuters.com register HAMBURG/FRANKFURT, Sept 5 (Reuters) – Volkswagen’s (VOWG_p.DE) supervisory board is expected to approve a plan to list sportscar maker Porsche … Read more

Bed Bath & Beyond to cut jobs, close stores in bid to reverse losses

Aug 31 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) on Wednesday said it inked deals for more than $500 million in new financing and that it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business. Investors, however, remain concerned that the retailer’s plan, … Read more

Musk’s tweet about buying Manchester United no joke for fed-up fans

Aug 17 (Reuters) – Elon Musk, the world’s richest person, briefly lifted the gloom over Manchester United’s (MANU.N) shares and fans on Wednesday by saying he was buying the English soccer club – only to say a little later it was all part of “a long-running joke”. One of the world’s most successful soccer clubs, … Read more

Former Deutsche Bank co-CEO Anshu Jain dies

Anshu Jain, co-CEO of Deutsche Bank, addresses the bank’s annual general meeting in Frankfurt, Germany, May 21, 2015. REUTERS/Kai Pfaffenbach Register now for FREE unlimited access to Reuters.com register Aug 13 (Reuters) – Anshu Jain, a top finance executive best known for helping German lender Deutsche Bank AG (DBKGn.DE) take on the largest Wall Street … Read more

Five Chinese state-owned companies, under scrutiny in US, will delist from NYSE

SHANGHAI/HONG KONG/NEW YORK, Aug 12 (Reuters) – Five US-listed Chinese state-owned companies whose audits are under scrutiny by the US securities regulator said on Friday they would voluntarily delist from the New York Stock Exchange. Oil giant Sinopec (600028.SS) and China Life Insurance (601628.SS), Aluminum Corporation of China (Chalco) (601600.SS), PetroChina (601857.SS) and a separate … Read more