• Hindenburg shuts down Jack Dorsey’s payment firm Block, shares collapse

    March 23 (Reuters) – Hindenburg Research announced short positions in Block Inc (SQ.N) on Thursday, claiming the Jack Dorsey-led payments company overstated its user numbers and underestimated its customer acquisition costs. Shares of Block fell 20% to $57.85 in premarket trading after the report. If losses continue through the session, the stock could post its […]

  • Biden is going to require chip companies that win subsidies to share excess profits

    WASHINGTON, Feb. 28 (Reuters) – The Biden administration said on Tuesday it will require companies raising funds from its $52 billion US semiconductor manufacturing and research program to share excess profits and explain how they plan to provide affordable childcare. The Commerce Department on Tuesday released its plans to begin accepting applications for a $39 […]

  • Four-day workweek favored by UK employers in world’s largest trial

    Nine out of ten pilot farms adhere to a four-day working week Companies say that employees work more in less time The four-day work week is gaining traction, but some companies are still hesitant LONDON, Feb. 21 (Reuters) – Dozens of British employers trying out a four-day work week have mostly decided to stick with […]

  • Nestle is planning price increases after costs eat into profits

    Price increases needed to further offset commodity inflation Company expects organic growth of 6-8% in 2023 CEO says supply chain pressure is easing ZURICH, Feb. 16 (Reuters) – The world’s largest food group Nestle (NESN.S) will raise prices further this year, CEO Mark Schneider said on Thursday, after more expensive ingredients contributed to full-year net […]