Wall Street plunges as global recession looms

Wall Street plunges as global recession looms

Yesterday’s large-scale sell-off on Wall Street, in which shares of major retail companies experienced their biggest decline since the October 1987 Black Monday stock market crash, was in response to clear indications the US and global economy are moving rapidly into recession. A television screen on the floor of the New York Stock Exchange, Wednesday, … Read more

Spirit calls on shareholders to reject JetBlue tender offer

Spirit calls on shareholders to reject JetBlue tender offer

Piper Sandler chief investment strategist Michael Kantrowitz tells investors to stay defensive, and not to call a market bottom until 2023. Spirit Airlines’ board of directors has recommended that its shareholders reject a $ 30 per share tender offer from JetBlue Airways, arguing the takeover bid “has not addressed the core issue of the significant … Read more

More Russian oil going east squeezes Iranian crude sales to China

More Russian oil going east squeezes Iranian crude sales to China

Rise in Russian sales follows Western sanctions on Moscow About 20 tankers with Iranian oil anchored off Singapore Russia and Iran consult, but still compete for buyers Russian sales rise even as China’s COVID steps hit demand LONDON, May 19 (Reuters) – Iran’s crude exports to China have fallen sharply since the start of the … Read more

GOP-led legislation would force breakup of Google’s ad business

GOP-led legislation would force breakup of Google’s ad business

Sen. Marsha Blackburn, R-Tenn., On Instagram implementing new controls ahead of Capitol Hill hearing, cracking down on Big Tech, Biden’s meeting with Putin and the Military Defense Authorization Act. A bipartisan group of senators led by Utah Republican Mike Lee introduced legislation Thursday that would take aim at conflicts of interest in the advertising technology … Read more

Asian shares bounce as China moves to boost housing

Asian shares bounce as China moves to boost housing

FILE PHOTO – An investor stands in front of an electronic board showing stock information at a brokerage house in Shanghai, China, August 24, 2015. REUTERS / Aly Song Register now for FREE unlimited access to Reuters.com Register MSCI Asia ex-Japan + 1.8%, Nikkei + 1.3% European shares set to follow Asia’s lead Equities rally … Read more

GOP-led legislation would force breakup of Google’s ad business

GOP-led legislation would force breakup of Google’s ad business

Sen. Marsha Blackburn, R-Tenn., On Instagram implementing new controls ahead of Capitol Hill hearing, cracking down on Big Tech, Biden’s meeting with Putin and the Military Defense Authorization Act. A bipartisan group of senators led by Utah Republican Mike Lee introduced legislation Thursday that would take aim at conflicts of interest in the advertising technology … Read more