WASHINGTON — Lawmakers in Washington are digging into the GameStop saga at a congressional hearing. The episode has been portrayed as a victory of the little guy over Wall Street titans, but not everyone is buying it. Lawmakers from both parties are among the skeptics. GameStop shares soared 1,600% in January before falling back to […]
Tag Archives: business
BANGKOK — Shares were mostly lower in Asia on Thursday after a mixed session on Wall Street as losses by technology and industrial companies offset other gains. Shanghai advanced after reopening following the Lunar New Year holiday. Shares fell in Tokyo, Hong Kong and Seoul. The yield on the 10-year Treasury note held near its […]
New York is suing Amazon, claiming the company failed to provide workers with a safe environment at two warehouses in the state as COVID-19 infections surged nationwide. The suit from New York Attorney General Letitia James landed just days after Amazon preemptively sued to block the suit over its coronavirus safety protocols and the firing […]
CALGARY — Royal Dutch Shell is further reducing its exposure to the Alberta oilpatch with a deal to sell producing light oil shale assets there to Calgary-based Crescent Point Energy Corp. for $900 million. The purchase announced after markets closed Wednesday allows Crescent Point to add a new core area to its main assets in […]
After committing one of the “biggest blunders in banking history,” Citibank won’t be allowed to recover the almost half a billion dollars it accidentally wired to Revlon’s lenders, a U.S. District Court judge ruled. Citibank, which was acting as Revlon’s loan agent, meant to send about $8 million in interest payments to the cosmetic company’s […]
CALGARY — Homebuyers and renovators hoping for a mid-winter price slump are instead being greeted with new all-time record high prices for lumber and oriented strandboard (OSB) building panels. CIBC analyst Hamir Patel says Western SPF (spruce, pine, fir) lumber prices rose to a four-digit close for the first time on Tuesday, reaching US$1,000 per […]
The GameStop saga has been portrayed as a victory of the little guy over Wall Street giants but not everyone agrees, including some lawmakers in Washington. GameStop shares soared 1,600% in January before falling back to earth. Entangled in the mess are massive short-selling hedge funds, a social media message board and ordinary investors wanting […]
Swiss food giant Nestle on Tuesday announced the sale of its regional spring water brands, plus two of its other North American efforts, to One Rock Capital Partners and Metropoulos & Co for US$4.3 billion. The sale includes five of the giant’s spring water brands, including Poland Spring, three of its mountain water brands, its […]
TOKYO — Asian shares were mostly lower Wednesday as investors sold to lock in profits from the recent rally driven by hopes economies will gradually return to a pre-pandemic normal. Japan’s benchmark Nikkei 225 dipped 0.6% to finish at 30,292.19, even as the vaccination drive against COVID-19 began, starting with health care workers. South Korea’s […]
ATLANTIC CITY, N.J. — By mid-morning Wednesday, a spot on the Atlantic City Boardwalk where movie stars, athletes and rock stars used to party — and a future president honed his instincts for bravado and hype — will be reduced to a smoking pile of rubble. The former Trump Plaza casino is to be imploded […]