Court orders property developer China Evergrande Group to liquidate after it was unable to reach a deal with creditors
Court orders property developer China Evergrande Group to liquidate after it was unable to reach a deal with creditors
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Shipping Costs Soar in Wake of Red Sea Attacks
For about two months, a barrage of missile and drone attacks in the Red Sea by Houthi militants has posed a difficult choice to shippers using the Suez Canal: risk an airborne strike and pay sharply higher insurance rates, or forgo the canal and take the longer route around Africa, snarling schedules and entailing higher…
North Carolina authorizes online sports betting to begin on eve of men’s ACC basketball tournament
RALEIGH, N.C. — RALEIGH, N.C. (AP) — Legal online sports betting in North Carolina is poised to begin in March, state gambling regulators decided Wednesday, setting the start date for the eve of the region’s beloved Atlantic Coast Conference men’s basketball tournament. Members of the state lottery commission, which was tasked by the General Assembly…
Layoffs surged 98% in 2023 and it could get worse this year: report
The pace of job cuts by US employers accelerated in 2023, with the number of layoffs surging 98% compared with the previous year. That is according to a new report published by Challenger, Gray & Christmas, which found that companies planned 721,677 job cuts last year, a substantial increase from the 363,832 layoffs reported in 2022. The…
IBM, Lam Research rise; Tesla, Humana fall, Thursday, 1/25/2024
NEW YORK — Stocks that traded heavily or had substantial price changes on Thursday: Tesla Inc., down $25.20 to $182.63. The electric vehicle maker reported disappointing fourth-quarter earnings and warned of “notably lower” sales growth this year. International Business Machines Corp., up $16.50 to $190.43. The technology and consulting company beat analysts’ fourth-quarter earnings and…
Spirit shares sink after JetBlue casts doubt on $3.8B merger
JetBlue Airways on Friday expressed doubts over closing its $3.8 billion merger with Spirit Airlines, saying that it might not meet certain conditions required as part of the deal before the due date. Shares of Spirit tumbled 17% after the announcement, adding to their losses of about 55% this month that were sparked by a US judge’s…
Oregon weekly newspaper to relaunch print edition after theft forced it to lay off its entire staff
PORTLAND, Ore. — An Oregon weekly newspaper that had to lay off its entire staff after its funds were embezzled by a former employee will relaunch its print edition next month, its editor said, a move made possible in large part by fundraising campaigns and community contributions. The Eugene Weekly will return to newsstands on…