Category: Business

Global stock markets were mostly lower on Tuesday while benchmark U.S. Treasury yields jumped to their highest levels since June as a U.S. services industry report underscored expectations the Federal Reserve will need to keep hiking interest rates. The U.S. dollar strengthened, while the Japanese yen hit a fresh 24-year low. Wall Street’s three major […]

Ireland’s data privacy regulator has agreed to levy a record fine of 405 million euros ($402 million) against social network Instagram following an investigation into its handling of children’s data, a spokesperson for the watchdog said. Instagram plans to appeal against the fine, a spokesperson for parent Meta Platforms Inc (META.O) said in an emailed […]

A U.S. labor board on Tuesday moved to make it easier for workers and unions to hold companies liable for labor law violations by their franchisees and contractors, proposing to revive an Obama-era standard heavily criticized by trade groups. The proposed rule from the National Labor Relations Board would treat companies as so-called “joint employers” […]

A look at the day ahead in Asian markets from Jamie McGeever As evidenced by another decline on Wall Street, the dollar climbing to a fresh 20-year high, and a sharp sell-off in UK government debt, the squeeze on global markets and investor confidence around the world shows little sign of easing. This is likely […]

The U.S. Commerce Department said Tuesday it hopes by February to begin seeking applications for $39 billion in government semiconductor chips subsidies to build new facilities and expand existing U.S. production. Congress in August approved $52.7 billion for semiconductor manufacturing and research and a 25% investment tax credit for chip plants, estimated to be worth […]

Software company Zendesk Inc’s (ZEN.N) shareholders should vote for a planned acquisition by a group of private equity firms, a prominent proxy advisory firm recommended on Tuesday. Institutional Shareholder Services (ISS) warned that there would be “significant downside risk” if Zendesk shareholders failed to approve the proposed deal. The proxy firm issued its recommendation days […]

The dollar marched higher on Tuesday after a report on the U.S. services industry in August reinforced the view that the United States was not in recession, while the euro and rate-sensitive Japanese yen tumbled further against the greenback. The dollar index rose 0.547% after the Institute for Supply Management said its non-manufacturing PMI edged […]