Lordstown Motors Corp said on Tuesday it will carry out a reverse stock split to meet the Nasdaq listing norms and to appease investor Foxconn , which had threatened to scrap a crucial $170 million funding.
Lowe’s Cos Inc cut its annual sales and profit forecasts on Tuesday, joining larger rival Home Depot in highlighting waning demand for home improvement goods with sticky inflation forcing consumers to cut back on discretionary spending.
Concerns over recession and sticky inflation will weigh on European shares over the coming months but fading policy headwinds could see the main benchmarks reach new highs next year, a Reuters poll found.
Activist investor TCS Capital Management on Tuesday urged Yelp Inc to either explore a sale or a merger with online-services company Angi Inc , sending shares of the service-recommendation site 10% higher in premarket trading.
TuSimple Holdings Inc said on Thursday it will cut 30% of its global workforce under a restructuring as the autonomous driving technology company looks to preserve its balance sheet amid a funding crunch in the sector.
The S&P 500 index of U.S. shares will slip marginally between now and year-end as past interest rate hikes, troubled regional banks and weak earnings weigh on sentiment, according to strategists in a Reuters poll.
The International Monetary Fund no longer expects Britain’s economy to fall into a recession this year, it said on Tuesday, praising the steps taken by Britain’s government to stabilise the economy and fight inflation.
Alibaba Group Holding Ltd’s , cloud unit has started a round of downsizing that will impact 7% of the staff as it streamlines its business in preparation for an IPO, a source familiar with the matter said on Tuesday.