industrial news

AMC Scores an Earnings Beat at a Difficult Time for Meme Stocks

AMC Scores an Earnings Beat at a Difficult Time for Meme Stocks

AMC Entertainment shares, along with other meme stocks, haven’t been spared during the broader market rout of the last few weeks. Mandel Ngan/AFP via Getty Images Text size AMC Entertainment Holdings stock jumped after the move theater firm beat Wall Street’s expectations for the first quarter. The company reported a non-GAAP net loss of 52 …

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Uber, Amazon, and Facebook Have Slowed Hiring.  Why Others Could Follow.

Uber, Amazon, and Facebook Have Slowed Hiring. Why Others Could Follow.

Text size Uber is one of multiple tech companies slowing down hiring and cutting back on spending. Drew Angerer/Getty Images facebook parent Meta Platforms , ride-share service provider Uber Technologies and tech and online retail giant Amazon.com have announced hiring slowdowns in recent weeks. It’s all about keeping down costs, according to one economist. Peter …

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Rivian Stock Slumped.  Ford Plans to Sell Part of Its Stake.

Rivian Stock Slumped. Ford Plans to Sell Part of Its Stake.

Text size Ford is planning to sell 8 million of the roughly 100 million shares of Rivian the company holds, according to multiple reports. Courtesy Rivian Shares of the electric-truck startup Rivian Automotive fell Monday. Ford-Motor is the main reason, but there is something else troubling investors. Just look at the overall market. Everything ended …

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Why Is Bitcoin Falling?  Prices Drop Amid Broader Market Tumble.

Why Is Bitcoin Falling? Prices Drop Amid Broader Market Tumble.

Bitcoin was trading around $37,000 Thursday. Rutmer Visser/Dreamstime Text size The price of Bitcoin, Ether, and other cryptocurrencies slumped on Thursday, reversing a recent rally as a deep selloff in the stock market spread to digital assets.. Bitcoin tumbled 6% over the past 24 hours to around $36,900, after ending 6% higher on Wednesday and …

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Fed, Biden Administration Float New Lending Rules for Lower-Income Areas

Fed, Biden Administration Float New Lending Rules for Lower-Income Areas

WASHINGTON—Top US banking regulators are poised to overhaul how banks lend hundreds of billions of dollars annually in lower-income communities, after scrapping a Trump-era revamp that had divided regulators and industry officials. The latest proposal to modernize rules for the 1977 Community Reinvestment Act is set to be announced Thursday and aims to ensure lending …

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Uber's Revenue Doubles, but Stock Falls After Lyft Warns of Higher Driver Costs

Uber’s Revenue Doubles, but Stock Falls After Lyft Warns of Higher Driver Costs

Uber Technologies Inc.’s UBER -4.65% revenue more than doubled last quarter, as demand for wrinkles rebounded from the downturn caused by the Covid-19 surge late last year and the company’s food delivery grew despite restaurant reopenings. Uber issued a bullish outlook for the current quarter, but its shares fell about 5% Wednesday, triggered in part …

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Citigroup Sales Hit European Stock Markets With 'Flash Crash'

Citigroup Sales Hit European Stock Markets With ‘Flash Crash’

Several European stock markets suffered a “flash crash” on Monday morning following sell orders by Citigroup Inc., VS 1.04% according to people familiar with the matter. Trading was halted momentarily in several markets after major stock indexes plunged for a few minutes just before 10 am Central European time. Stocks in the Nordic region were …

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