Business

US stocks open higher as Disney gains

(AFP) — Wall Street stocks rose early Thursday, extending a rollercoaster week as Disney rallied following an announcement it is cutting 7,000 jobs. Shares of the entertainment giant jumped 3.9 percent as recently reinstated CEO Bob Iger’s message of austerity…

German antitrust watchdog opens probe into PayPal

(AFP) — Germany’s antitrust watchdog said Monday it had launched an investigation into PayPal to examine whether the US online payment giant was using its dominance to restrict competition. The Federal Cartel Office (FCO) said it would examine whether the…

Amazon to cut more than 18,000 jobs, CEO says

(AFP) — Amazon announced Wednesday it will cut more than 18,000 jobs from its workforce, citing “the uncertain economy” and the fact the online retail giant had “hired rapidly” during the pandemic. “Between the reductions we made in November and…

US stocks open lower in election aftermath

(AFP) — Wall Street stocks fell early Wednesday, threatening a three-day rally as markets digested inconclusive US election results as well as disappointing Disney earnings. Equities had risen the last three days on expectations that Republicans would win at least…

Stocks slump, dollar jumps as US inflation runs hot

(AFP) — Stock markets hit reverse while the dollar shot higher Tuesday after data showed that US inflation slowed less than expected. Annual consumer price inflation slowed slightly in August to 8.3 percent from 8.5 percent in July, the Labor…

Stock markets jump on US jobs data

(AFP) — US and European stock markets shot higher on Friday following data that showed US job creation slowed but remained positive last month, belying fears of a recession induced by interest rates and inflation. Labor Department data showed US…