Business News

(Reuters) — Elon Musk on Wednesday pledged an additional $6.25 billion in equity financing to fund the $44-billion offer for Twitter Inc, reducing the billionaire’s margin loan against his Tesla Inc shares to zero. The disclosure made in a regulatory filing on Wednesday signaled Musk is worki…

SHANGHAI (Reuters) — Asian share markets slipped on Thursday after minutes from the Federal Reserve’s early May meeting showed a majority backing half-percentage-point rate hikes in June and July, and as persistent concerns over global growth sapped confidence. While the minutes also highligh…

WASHINGTON (Reuters) — All participants at the Federal Reserve’s May 3-4 policy meeting backed a half-percentage-point rate increase to combat inflation they agreed had become a key threat to the economy’s performance and was at risk of racing higher without action by the U.S. central b…

WASHINGTON (Reuters) — Sales of new U.S. single-family homes tumbled to a two-year low in April, likely as higher mortgage rates and record prices squeezed first-time buyers and those in search of entry-level properties out of the housing market. The fourth straight monthly decline in sales reporte…

HOUSTON (Reuters) — Oil prices rose in early trade on Wednesday, boosted by tight supplies and the prospect of rising demand from the upcoming start of the U.S. summer driving season. Brent crude futures for July rose 46 cents, or 0.4%, to $114.02 a barrel by 0020 GMT. U.S. West Texas Intermediate …

(Reuters) — Asia stocks opened mostly in positive territory on Wednesday even as global growth concerns and weak U.S. economic data weighed on Wall Street overnight. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.35%, Australian shares were up 0.33%, and Seoul and Taiwan bo…

(Reuters) — Snap Inc said the economy had worsened faster than expected in the last month and the social media company slashed its quarterly forecast, triggering an after-hours sell-off. Since late April, “the macroeconomic environment has deteriorated further and faster than anticipated. As …

ATLANTA/ SAN FRANCISCO (Reuters) — U.S. central bankers broadly back two more big interest rate hikes in June and July, but what happens after is a matter of intense internal debate that turns in large part on differing views of how price pressures will play out in months ahead. To Atlanta Fed Pres…

DAVOS, Switzerland (Reuters) — Multiple threats to the global economy topped the worries of the world’s well-heeled at the annual Davos think-fest on Monday, with some flagging the risk of a worldwide recession. Political and business leaders gathering for the World Economic Forum or WEF meet…

MELBOURNE (Reuters) — Oil prices gained on Monday with U.S. fuel demand, tight supply and a slightly weaker U.S. dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown fueled worries about a sharp slowdown in growth. Brent crude futures rose 97 cents to $113.52 a ba…