(Reuters) – Major European bourses closed lower on Thursday after the European Central Bank kept its policy rates unchanged and said its existing stimulus measures were sufficient and likely to be used in full. The pan-European STOXX 600 index dropped 0.6%, as ECB President Christine Lagarde said the central bank is carefully watching the implications […]

(Reuters) – Shares of Nikola Corp NKLA.O fell 8% on Thursday after Hindenburg Research shorted the stock and labeled the electric truck maker a “fraud” in a scathing report, evoking a sharp response from the company, which accused the short-seller of manipulating the high-flying stock. Hindenburg accused Nikola’s founder Trevor Milton of nepotism and said […]

WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits hovered at high levels last week, suggesting the labor market recovery from the COVID-19 pandemic was stalling. The weekly jobless claims report from the Labor Department on Thursday, the most timely data on the economy’s health, followed news last Friday of a […]

LONDON (Reuters) – JPMorgan Chase & Co (JPM.N), Citigroup Inc (C.N) and State Street Corp (STT.N) have invested $11 million in Capitolis, a New York-based technology startup that seeks to help banks use capital more efficiently, the companies said. Capitolis, which was founded by Gil Mandelzis, a former senior executive at ICAP and former Thomson […]

The Star market, China’s answer to the Nasdaq, celebrates its first anniversary this week. The tech-heavy stock market was set up at the request of President Xi Jinping as relations with the US began to sour. Officially called the Shanghai Stock Exchange Science and Technology Innovation Board, it now includes more than 120 firms. It’s […]

(Reuters) – JPMorgan Chase & Co (JPM.N) on Wednesday dismissed several employees who allegedly misused funds that were supposed to help businesses dealing with the COVID-19 pandemic, the Financial Times reported, citing a person familiar with the situation. Individuals who fraudulently obtained loans under the Economic Injury Disaster Loan (EIDL) program had not been acting […]

NEW YORK (Reuters) – Asian markets are expected to swing higher on Thursday, after U.S. stocks reversed course from a three-day losing streak that led the technology-heavy Nasdaq into correction territory. The U-turn in U.S. stocks, however, was already reflected in some markets, so the impact in Asia may be muted, said Rodrigo Catril, a […]

PARIS (Reuters) – A letter sent to luxury goods group LVMH (LVMH.PA) by the French foreign ministry requesting it delay its $16 billion purchase of U.S. jeweller Tiffany (TIF.N) to early January was not binding, a French government source said. The letter has sparked a furor after LVMH said on Wednesday it was walking away […]

(Reuters) – Wall Street’s main indexes were on track to open higher on Wednesday, as technology-focused companies climbed following three sessions of intense selling that sent the Nasdaq Composite index lower by 10%. Tesla Inc’s (TSLA.O) shares climbed 6.3% in premarket trading after shedding about a fifth of their value in the previous session, following […]

Online retail giant Amazon’s UK paid £1.7m in taxes despite profits almost trebling to £72.3m. The division, which operates the warehouse “fulfilment centres”, was able to defer a portion of its 2017 tax bill. One reason for the lower tax bill was a rise in share-based payments for staff. The company said it paid all […]