[gtx_breaking_news]

Business

How long can supply shortages continue?

As the global economy kicks into high gear following the pandemic, demand for certain consumer goods and tech components has outstripped supply, leading to shortages of everything from cars to household appliances.Shortages are not something consumers in developed economies are…

Didi shares crash 22% after China bans it from app stores

Didi shares plunged as much as 22% in premarket trading on Tuesday as fallout continued over news of the company's troubles in China.As of 6:30 a.m. ET, the company's stock was trading at $12.40, well below its closing price of…

OPEC+ meeting canceled, sending oil prices climbing higher

OPEC+ canceledits scheduled meeting Monday, dashing hopes for an agreement to increase production to satisfy the world's growing demand for oil.Oil prices climbed higher on the news. The price of Brent crude, the global benchmark which has has surged roughly…

Ransomware group demands $70 million for Kaseya attack

The ransomware group REvil has demanded a $70 million payment in Bitcoin for a decryptor tool following its attack on the software vendor Kaseya, cyber researchers say.The offer of a universal tool reflects the "logistical nightmare" REvil is now facing…

Ransomware group demands $70 million for Kaseya attack

The ransomware group REvil has demanded a $70 million payment in Bitcoin for a decryptor tool following its attack on the software vendor Kaseya, cyber researchers say.The offer of a universal tool reflects the "logistical nightmare" REvil is now facing…

Three US private equity groups circle UK supermarket

Morrisons has become a takeover target for three major American private equity groups amid strong investor appetite for UK assets that could spark a bidding war for Britain's fourth biggest supermarket chain.In a statement on Saturday, Morrisons said that its…

China bans Didi, its biggest ride-hailing service, from app stores

Didi, China's largest ride-hailing service, continues to fall into deeper trouble with Chinese regulators.The Cyberspace Administration of China on Sunday banned Didi from app stores after saying it posed a cybersecurity risk for customers."Didi Chuxing app is found to have…

Stocks are expensive but that doesn't mean the bull run is ending

Stocks enjoyed a stellar first half of the year. But will the market be able to keep rallying?Valuations are rapidly approaching historically expensive levels, and some experts are worried about how high stocks are relative to their earnings. One market…

Travelers are getting hit by sticker shock this summer

American vacationers are finding just about everything significantly more expensive this summer.Hotel rooms? Up about 44% at the end of June compared to a year earlier, according to data from hotel research firm STR. Air fares? They were 24% higher…

New ransomware attack targets key IT vendor

US cyber officials are tracking a major new ransomware attack by the same group that hit meat supplier JBS Foods this spring.This time, the REvil malware has hit a wide range of IT management companies and compromised hundreds of their…

OPEC drama raises the specter of even higher gas prices

OPEC and its allies are mired in a stalemate. American drivers could pay the price.For the second straight day, OPEC+ surprised observers Friday by failing to reach an agreement on whether to add more barrels to an oil market screaming…

FTC charges Broadcom with monopolizing chip industry

The Federal Trade Commission said Friday it has sued and settled with the technology giant Broadcom over allegations that the company sought to monopolize the supply of semiconductor chips.According to the complaint, Broadcom entered into exclusive anti-competitive deals with its…

Didi stock tumbles after China suspends registration of new users

Didi's stock tumbled Friday after China's Cyberspace Administration suspended the registration of new users from the company.The suspension comes just two days after China's largest ride-hailing service, which forced Uber out of mainland China five years ago, went public on…

Tesla sales rise despite problems with chips and China

Tesla managed to sell more than 200,000 vehicles last quarter, even as the company faced rising prices, a PR disaster in China and a shortage of computer chips.The company also managed to build more than 200,000 cars over the past…

Why you're seeing fewer clothing sales right now

If you feel like you've seen fewer blowout clothing sales at stores and online, you're right. And you're likely to see a near-absence of promotions even through the holidays later this year.Consumer demand for new wardrobes is soaring thanks to…