Business

Supply chain bottlenecks amid roaring demand slow U.S. manufacturing

U.S. manufacturing activity grew at a slower pace in April, restrained by shortages of inputs as rising vaccinations against COVID-19 and massive fiscal stimulus unleashed pent-up demand. The survey from the Institute for Supply Management (ISM) on Monday showed record-long lead times, wide-scale shortages of critical basic materials, rising commodities prices and difficulties in transporting […]

Business

Sticking with remote work? Businesses are betting on it

U.S. businesses have been spending more on technology than on bricks and mortar for more than a decade now, but the trend has accelerated during the pandemic, one more sign that working from home is here to stay. As spending on home-building has risen, spending on nonresidential construction has dropped, with that on commercial, manufacturing […]

Business

Cathie Wood’s investment firm, Elliott buy Twitter shares on dip

Cathie Wood’s Ark Investment Management and hedge fund Elliott Management bought shares of Twitter Inc (TWTR.N) last week after the stock fell on disappointing quarterly results. Wood’s investment firm bought about 1.3 million shares of the company worth $71 million last week, the report said, citing an email on the firm’s trading activity. Separately, Elliott […]

Business

Blackstone asks its companies to regularly report on sustainability

Blackstone Group Inc (BX.N) has for the first time asked executives in companies controlled by its private equity arm to regularly report on environmental, social and governance (ESG) matters to their boards. The world’s largest manager of alternative assets such as private equity and real estate has been seeking to bolster its sustainability credentials as […]

Business

EBay says open to accepting to cryptocurrencies in future, exploring NFTs

EBay Inc (EBAY.O) is open to the possibility of accepting cryptocurrency as a form of payment in the future and is looking at ways to get non-fungible tokens (NFTs) on its platform, the company said on Monday. A growing number of companies have begun to accept virtual currencies as a form of payment, taking an […]

Business

Banks eased standards for business, household loans in Q1, Fed survey shows

Loan officers at U.S. banks reported easing standards on most business and household loans in the first three months of the year as more of the country reopened amid accelerating vaccination rates. Standards on commercial real estate loans remained basically unchanged, while banks reported tighter standards for construction and land development loans, according to loan […]

Business

India Asks State Banks to Withdraw Cash Held Abroad Over Cairn Dispute

India has asked state-run banks to withdraw funds from their foreign currency accounts abroad, two government officials and a banker said, as New Delhi fears Cairn Energy may try to seize the cash after an arbitration ruling in a tax dispute. Cairn was awarded damages of more than $1.2 billion plus interest and costs in […]