Rent the Runway shares get caught up in AI frenzy, surge over 200%
By Ananya Mariam Rajesh (Reuters) -Traders piled into shares of Rent the Runway on Thursday, sending the shares up by more than 220% after the apparel rental firm said it…
UBS could need $10 billion-$15 billion in extra capital to meet new Swiss rules, analyst says
By Noele Illien ZURICH (Reuters) – UBS might need to retain $10 billion to $15 billion in excess capital after Switzerland’s government this week laid out plans for tougher capital…
Active US funds tally best quarterly outperformance since 2007, BofA says
By Lewis Krauskopf NEW YORK (Reuters) – Actively managed U.S. equity funds in the first quarter posted their best quarterly out-performance since 2007, BofA Global Research strategists said. In the…
Canadian lender RBC’s CEO says City National will be a ‘net contributor’
By Nivedita Balu TORONTO (Reuters) – Royal Bank of Canada expects its struggling unit in the U.S. to be “a net contributor” to Canada’s biggest lender and is bullish about…
Moderna shares fall after judge sides with Arbutus in patent fight
(Reuters) -Shares of Moderna fell 4% on Wednesday after a U.S. judge issued an order that strengthened Arbutus’ arguments in a patent infringement lawsuit related to Moderna’s blockbuster COVID-19 vaccines.…
EV startup Fisker prepares for possible bankruptcy filing, WSJ reports
(Reuters) -Electric vehicle startup Fisker has hired restructuring advisers to assist with a possible bankruptcy filing, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The…
SpaceX’s third Starship test flight gets FAA green light
By Joey Roulette WASHINGTON (Reuters) – The FAA on Wednesday granted SpaceX a license to test-launch the company’s Starship rocket system from Texas, according to the agency’s website, paving the…
US homebuilder Lennar beats Q1 profit estimates amid sustained demand for new homes
(Reuters) -Lennar Corp reported first-quarter profits above Wall Street estimates on Wednesday, as historically low existing home supply led to sustained demand for new unit construction. The company delivered 16,798…
Wall Street ends mostly lower as chipmakers ease; inflation data ahead
By Caroline Valetkevitch NEW YORK (Reuters) -The S&P 500 and Nasdaq edged lower on Wednesday as investors took profits in chipmaker stocks, while they braced for producer price data and…
Yellen says US aims to ensure domestic EV maker success as China boosts exports
By David Lawder ELIZABETHTOWN, Kentucky (Reuters) -U.S. Treasury Secretary Janet Yellen on Wednesday said President Joe Biden’s administration is taking steps to ensure success of the domestic electric vehicle (EV)…