Nasdaq tumbles to correction territory after Powell comments

(Reuters) – Wall Street slumped on Thursday, leaving the Nasdaq down 10% from its February record high, after remarks from Federal Reserve Chair Jerome Powell disappointed investors worried about rising longer-term U.S. bond yields. The benchmark 10-year Treasury yield spiked to 1.533% after Powell’s comments, which did not point to

German bank auditors say lodged Greensill Bank complaints in 2020

FRANKFURT (Reuters) – The Auditing Association of German Banks registered complaints about Greensill Bank with Germany’s financial watchdog BaFin in early 2020, a spokesman told Reuters on Thursday.FILE PHOTO: The logo of Greensill Bank is pictured in downtown Bremen, Germany, July 3, 2019. REUTERS/Fabian Bimmer/File PhotoBaFin warned on Wednesday of

Hippo to go public in $5 billion merger with Mark Pincus, Reid Hoffman-backed SPAC

Slideshow ( 2 images )(Reuters) – Hippo Enterprises said it will go public through a merger with a blank-check firm, backed by Silicon Valley heavyweights Reid Hoffman and Mark Pincus, in a deal that gives the merged entity a pro forma enterprise value of $5 billion. Founded in 2015, Palo

Wall Street slides on tech sell-off, other world stocks flat

NEW YORK (Reuters) – Wall Street fell on Wednesday as investors sold off technology stocks, while shares from Asia to Europe were flat, while the dollar rose even as U.S. jobs data disappointed investors and virtual curreny bitcoin jumped.FILE PHOTO: Trader Frank Masiello talks on his phone on Wall St.

Renewable diesel boom highlights challenges in clean-energy transition

(Reuters) – For 17 years, trucker Colin Birch has been hitting the highways to collect used cooking oil from restaurants.Parkland Fuel’s refinery in Burnaby, British Columbia, Canada February 17, 2021. Picture taken February 17, 2021. REUTERS/Jennifer GauthierHe works for Vancouver-based renderer West Coast Reduction Ltd, which processes the grease into

Asian stocks edge higher, Aussie in demand on recovery signs

TOKYO/NEW YORK (Reuters) – Asian shares edged higher on Wednesday as investors shrugged off concerns that stocks may have rallied too far too fast in the past year, and focused instead on optimism that more imminent U.S. stimulus will energise the global economic recovery.FILE PHOTO: A woman holding an umbrella

Revamped Alitalia to start with 45 planes, get 1 billion euros in aid: paper

MILAN (Reuters) – A revamped Alitalia will start with 45 planes, have around 4,500 workers and get just over 1 billion euros ($1.2 billion) in state support, less than half of what was previously envisaged, newspaper La Repubblica reported on Tuesday.FILE PHOTO: An Alitalia Airbus A320-200 passenger aircraft takes off

China's Ant to boost consumer finance unit capital as it restructures micro-lending: sources

HONG KONG (Reuters) – China’s Ant Group is in talks with other shareholders in its new consumer finance unit to bolster the firm’s capital as the fintech giant prepares to fold in its lucrative micro-lending businesses, people familiar with the matter said.FILE PHOTO: A sign of Ant Group is seen

Asian markets roiled as bond rout turns 'lethal'

SYDNEY/MIAMI (Reuters) – Asian stocks skidded to one-month lows on Friday as a rout in global bond markets sent yields flying and spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets.FILE PHOTO: Pedestrians are reflected in an electronic board displaying various stock prices at

DoorDash sees food orders declining in second half; shares fall 12%

FILE PHOTO: A DoorDash sign is pictured on a restaurant on the day they hold their IPO in the Manhattan borough of New York City, New York, U.S., December 9, 2020. REUTERS/Carlo Allegri(Reuters) – Food delivery company DoorDash Inc on Thursday forecast orders to decline in the back half of