Shares in cannabis companies blazed to fresh highs on Wednesday, as strong interest from retail investors appeared to signal the recent trading frenzy behind recent Reddit favorites such as GameStop may be shifting to other stocks.
Like many others in his industry, Geely Chairman Li Shifu has been irked by skyrocketing valuations for electric car manufacturers such as Tesla Inc and Nio Inc, sources at the Chinese automaker say.
Lockdowns and concerns over safety initially affected businesses in the sharing economy, but they have since re-aligned their priorities, says SUSS’ Dr Wang Yue.
Best Buy Co Inc has notified employees that it will be cutting some jobs at its stores, the Wall Street Journal reported on Wednesday, citing people familiar with the situation.
Zynga Inc on Wednesday forecast annual net bookings above Wall Street estimates, betting on the launch of its upcoming "FarmVille" game and strong in-game spending in its existing titles such as "Harry Potter: Puzzles & Spells."
The S&P 500 and the Nasdaq slipped from record levels in volatile trading on Wednesday as Reddit forum turned their focus to cannabis stocks while investors looked to a speech by Federal Reserve Chair Jerome Powell in the afternoon.
Uber Technologies Inc on Wednesday said revenue at its ride-hail and delivery businesses increased on a quarterly basis and said it was well on track to achieve its target for an adjusted profit by year-end.
Neera Tanden, Democratic President Joe Biden's nominee to head the U.S. Office of Management and Budget, told U.S. senators on Wednesday she would support raising the federal minimum wage, without giving a target for a higher rate.
The COVID-19 pandemic has added urgency to the Bank of Canada's development of a digital currency and decision could come sooner than previously thought, a senior policymaker said on Wednesday, though he noted that a launch was not a "foregone conclusion."
Southwest Airlines Chief Executive Gary Kelly and the leaders of the airline's unions urged President Joe Biden not to mandate COVID-19 testing before domestic flights, warning it would put "jobs at risk."
