May 11, 2023
Peloton recalls 2.2 million exercise bikes over seat issue

(Reuters) -Peloton Interactive Inc will recall 2.2 million exercise bikes due to the risk of injuries from a seat-related issue, the company said on Thursday, sending its shares down 7%. The voluntary recall piles on more pressure on Peloton as…

May 11, 2023
Stocks, yields fall after data seen halting more Fed rate hikes

By Herbert Lash NEW YORK (Reuters) -A gauge of global stock performance slid on Thursday after U.S. jobless claims and a modest rise in producer prices suggested a slowing economy, which also pushed Treasury yields lower as it could allow…

May 11, 2023
Dollar stronger as market rethinks monetary policy outlook

By Laura Matthews NEW YORK (Reuters) - The U.S. dollar rose against the euro and sterling on Thursday and set a more than one-week high against a basket of its major peers as traders sought safety after a series of…

May 11, 2023
Lithium miners surge as Allkem-Livent tie up fuels M&A hopes

By Melanie Burton MELBOURNE (Reuters) - Shares in Australian-listed lithium miners jumped on Thursday after a $10.6 billion merger in the sector raised expectations for more consolidation among producers of the key metal in electric vehicle batteries. The tie up…

May 11, 2023
Nissan expects 38% full-year profit rise on stronger sales outlook

By Daniel Leussink TOKYO (Reuters) -Nissan Motor Co on Thursday flagged a better-than-expected 38% rise in profit this year on stronger sales, a rosier outlook for the Japanese automaker as it retools its often difficult alliance with Renault and faces…

May 11, 2023
Volvo Cars delays EX90 production start

COPENHAGEN (Reuters) -Sweden-based Volvo Cars has delayed the start of production of its new Volvo EX90 model for more software development and testing, it said on Thursday, sending its shares down 5%. The company now expects to start production of…

May 10, 2023
Musk says Twitter to soon allow calls, encrypted messaging

(Reuters) - Twitter Inc Chief Executive Elon Musk on Tuesday revealed details about new features including adding calls and encrypted messaging coming to the platform. Last year, Musk flagged plans for "Twitter 2.0 The Everything App", which he said would…

May 09, 2023
Metaverse could contribute up to 2.4% of US GDP by 2035 – study

(Reuters) - The metaverse could contribute as much as $760 billion or about 2.4% to U.S. annual gross domestic product (GDP) by 2035, according to a study commissioned by Facebook owner Meta Platforms. The concept of the metaverse includes augmented…