BUSINESS

Fears that investment banking would take a big hit across Wall Street in the second quarter looked to be confirmed on Thursday, with JPMorgan Chase & Co and Morgan Stanley reporting that revenues in that business more than halved.

New chief at Libya's key oil firm, US warns against confrontation

JPMorgan Chase reports lower profits, gives cautious economic outlook

The SEC served Tesla CEO Elon Musk with a letter on Thursday to request more information related to a tweet on his $44 billion acquisition of Twitter despite his move to withdraw from the proposal.

Globally, Prime members purchased more than 100,000 items per minute over the course of the two-day annual sales event.

Minimum wage hikes are one way to help low-income Americans overcome soaring inflation.

Amazon has offered a settlement against EU charges that the online giant undermined rivals by misusing the sensitive information of independent sellers to benefit its own retail business.

Two new analyses from Federal Reserve staff have concluded that strains in the U.S.

Global issuance of bonds focused on environmental or social projects fell in the first half of the year as supranational issuers scaled back activity and broad market sentiment was hit by war in Ukraine and rising interest rates.

Shell is considering boosting shareholder returns on the back of bumper profits from soaring energy prices, while the extra cash will also help it shift more swiftly towards renewables and low-carbon energy, the chief executive said on Thursday.

The national average price of gas on Thursday was $4.605 per gallon.

UN urges Africa to swap commodities for tech

In east Ukraine trench, soldiers dig in for 'total war'

General Motors Co and travel operator Pilot said Thursday they will develop a national network of 2,000 electric vehicle charging stalls at travel centers to make it easier to recharge near highways.

The U.S. securities regulator quizzed Elon Musk last month over a tweet in which the world's richest person raised doubts over whether he would move ahead with his $44 billion acquisition of Twitter Inc due to concerns over the number of fake users on the platform.

Private equity investor KKR said on Thursday that sustainable investing executive Elizabeth Seeger is leaving to join global standard-setter the International Sustainability Standards Board.

Ryan Gosling reportedly earned $20 million for the Netflix film "The Gray Man."

Alibaba Group is cutting over a third of staff in its in-house deals team, four people with knowledge of the matter said, after Beijing's sweeping regulatory crackdown sharply slowed the Chinese e-commerce behemoth's dealmaking pace.

JPMorgan Chase & Co's Jamie Dimon struck a cautious note on the global economy as America's largest bank reported a worse-than-expected 28% fall in quarterly profit and suspended share buybacks in the face of growing risks of a recession.

Those who have the affected units are advised to stop using them.

Russian strikes kill 23 as Zelensky accuses Moscow of terrorism

Wall Street's top investment banks that stand to lose lucrative fees from Elon Musk abandoning his $44 billion acquisition of Twitter Inc hope the start-ups backed by the world's richest person will make up for the lost business.

General Motors Co's electric Chevy Blazer SUV will be vital to the automaker's effort to catch Tesla Inc in the U.S.

Twitter Inc's fight with Elon Musk to enforce his $44 billion deal to buy the social media platform could attract scrutiny from the U.S.

Amazon has offered to halt online selling and marketing practices EU antitrust regulators regard as anti-competitive to try to end two investigations and avoid a possible hefty fine, ahead of EU rules that will target such methods from next year.

Morocco's king endorses new Jewish organisations

Barclays is seeking a Chinese banking partner to set up an asset management joint venture in the country, two people with knowledge of the matter said, as part of British lender's plans to expand its footprint in the world's second-largest economy.

The European Commission cut its forecasts for economic growth in the euro zone for this year and next and revised up its estimates for inflation on Thursday largely due to the impact of the war in Ukraine.

China has been tweaking its stringent COVID curbs but shows no sign of backing off from its "dynamic zero" policy, and has lagged in vaccination efforts that would enable it to do so, casting a heavy shadow over the world's second-largest economy.