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China’s factory inflation hits 17-month low, consumer prices speed up

A worker walks past steel rolls at the Chongqing Iron and Steel plant in Changshou, Chongqing, China August 6, 2018. REUTERS/Damir Sagolj/File Photo Register now for FREE unlimited access to Reuters.com Register July producer inflation at lowest since Feb 2021 July consumer inflation at 2-year high PBOC seen staying accommodative to spur growth BEIJING, Aug …

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Musk sells Tesla shares worth $6.9 billion, cites chance of forced Twitter deal

Tesla CEO Elon Musk attends the Tesla Shanghai Gigafactory groundbreaking ceremony in Shanghai, China January 7, 2019. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register Aug 10 (Reuters) – Tesla Inc ( TSLA.O ) Chief Executive Officer Elon Musk sold $6.9 billion worth of shares in the electric vehicle maker, saying the …

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US productivity posts biggest ever annual drop in second quarter

Aug 9 (Reuters) – US worker productivity in the second quarter fell at its steepest pace on an annual basis since 1948 when the Labor Department began tracking it, while growth in unit labor costs accelerated, suggesting strong wage pressures will continue to help keep inflation elevated. Nonfarm productivity, which measures hourly output per worker, …

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Coinbase posts loss as crypto market turmoil hits trading volumes

A representation of the cryptocurrency is seen in front of Coinbase logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Aug 9 (Reuters) – Coinbase Global Inc (COIN.O) reported a larger-than-expected quarterly loss as investors worried by this year’s rout in risky assets shied away …

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Nasdaq closes lower as chipmaker Micron’s warning renews tech rout

Micron falls on lowered revenue forecast Semiconductor stocks drop for third session Novavax tumbles after cutting revenue view by half NEW YORK, Aug 9 (Reuters) – The Nasdaq closed down on Tuesday after a dismal forecast from Micron Technology pulled chip makers and tech stocks lower as investors await US inflation data that could lead …

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Dreaded ‘down rounds’ shave trillions off startup valuations

Aug 9 (Reuters) – Several high-flying startups are being brought down to earth, as a recent carnage in global equity markets and lackluster demand for new listings force companies to raise funds at a substantial discount to their sky-high valuations. Easy money from venture capital dealmaking is fast evaporating in an inflation-induced high interest-rate environment …

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AppLovin offers to buy video game software maker Unity in $17.5 billion deal

People play “Pokemon GO” on the Pokequan GoBoat Adventure Cruise in the Occoquan River in the small town of Occoquan, Virginia, US August 14, 2016. REUTERS/Sait Serkan Gurbuz Register now for FREE unlimited access to Reuters.com Register Aug 9 (Reuters) – Gaming software company AppLovin Corp (APP.O) on Tuesday made an offer to buy peer …

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Singapore-based crypto lender Hodlnaut suspends withdrawals

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register HONG KONG, Aug 8 (Reuters) – Hodlnaut, a Singapore-based crypto currency lender and borrower, has suspended withdrawals, swaps and deposits, …

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US okays first Boeing 787 Dreamliner delivery since ’21 -sources

The Boeing logo is displayed on a screen, at the New York Stock Exchange (NYSE) in New York, US, August 7, 2019. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 8 (Reuters) – The US government on Monday approved the first Boeing (BA.N) 787 Dreamliner for delivery since 2021, clearing …

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Flush with cash, Pfizer buys Global Blood Therapeutics in a $5.4 billion deal

Aug 8 (Reuters) – Pfizer Inc on Monday agreed to pay $5.4 billion in cash for sickle cell disease drugmaker Global Blood Therapeutics (GBT.O), as it looks to capitalize on a surge in revenue from its COVID-19 vaccine and treatment. Pfizer will pay $68.50 per GBT share, which represents a 7.3% premium to its Friday …

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