Key U.S. Senator Sinema agrees to $430 billion drug, energy bill

WASHINGTON, Aug 4 (Reuters) – Democratic US Senator Kyrsten Sinema said on Thursday she agreed to “move forward” on a $430 billion drug pricing, energy and tax bill, subject to a Senate arbiter’s approval of the bill, which Democrats intend to pass over Republican objections. Senate Majority Leader Chuck Schumer said earlier on Thursday the … Read more

Biden pledge to tax wealthy, companies revived with Manchin-led bill

WASHINGTON, July 28 (Reuters) – US President Joe Biden’s campaign trail promise to increase taxes on corporations and the wealthy as part of a battle against glaring income inequality in the United States got an unexpected boost on Wednesday. Early proposals to increase tax rates from Biden and his fellow Democrats hit a brick wall … Read more

ARK’s Wood sees global recession, blames market selloff on Fed hike plan

Cathie Wood, Founder, CEO and CIO of ARK Invest, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, US, May 2, 2022. REUTERS/David Swanson Register now for FREE unlimited access to Reuters.com Register NEW YORK, May 10 (Reuters) – The global economy is in recession and recent stock market volatility is a … Read more

Biden seeks huge $33 billion funding to support Ukraine

WASHINGTON, April 28 (Reuters) – President Joe Biden asked Congress for $33 billion to support Ukraine – a dramatic escalation of US funding for the war with Russia – and for new tools to siphon assets from Russian oligarchs. The vast funding request includes over $20 billion for weapons, ammunition and other military assistance, as … Read more

EXCLUSIVE Twitter under shareholder pressure to seek deal with Musk, sources say

Elon Musk’s twitter account is seen on a smartphone in this photo illustration taken, April 15, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register April 24 (Reuters) – Twitter Inc (TWTR.N) is coming under increasing pressure from its shareholders to negotiate with Elon Musk even though the world’s richest person has … Read more

Ackman gives up on Netflix, taking $400 mln loss as shares tumble

April 20 (Reuters) – Billionaire investor William Ackman liquidated a $1.1 billion bet on Netflix (NFLX.O) on Wednesday, locking in a loss of more than $400 million as the streaming service’s stock plunged following news that it lost subscribers for the first time in a decade. Ackman’s hedge fund Pershing Square Capital Management made an … Read more

Twitter adopts ‘poison pill’ as challenger to Musk emerges

Elon Musk’s twitter account is seen on a smartphone in front of the Twitter logo in this photo illustration taken, April 15, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register April 15 (Reuters) – Twitter Inc (TWTR.N) adopted a ‘poison pill’ on Friday, a standard takeover defense that limits Elon Musk’s … Read more

Musk says U.S. SEC ‘bastards’ forced settlement over Tesla tweets

April 14 (Reuters) – Tesla Inc (TSLA.O) CEO Elon Musk on Thursday stepped up criticism of the US securities regulator, calling Securities and Exchange Commission officials “bastards” for bringing fraud charges against him over his 2018 tweets regarding taking the company private. On the day he made major news by unveiling a $43 billion cash … Read more

Analysis: As Fed tightens up, U.S. stock investors play defense on options market

NEW YORK, April 14 (Reuters) – US stock investors are increasingly turning to the options market for protection against more downside on Wall Street as they worry the Federal Reserve will be less sensitive to equity market volatility as it hikes interest rates to fight inflation. Demand for puts, typically bought for downside protection, is … Read more

China nudges listed firms, investors to buy stocks to stabilise market

A Chinese national flag flutters outside the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China July 9, 2021. REUTERS/Tingshu Wang Register now for FREE unlimited access to Reuters.com Register HONG KONG, April 12 (Reuters) – China is encouraging long-term investors to buy more equities and major shareholders of listed firms … Read more