DETROIT (Reuters) -Ford Motor Co said on Thursday it will idle production of its highly profitable F-150 pickup truck at a plant in Michigan through Sunday due to the global semiconductor chip shortage.
The dollar rallied to four-month highs and global equity benchmarks edged higher Thursday as investors looked past rising coronavirus cases in Europe and focused on signs that the U.S. economy was rebounding from the pandemic faster than anticipated.
U.S. stocks rose in a late-day rally on Thursday as investors bought stocks likely to do well in the recovery and picked up beaten-down Apple and Tesla shares in anticipation that the U.S. economy grows at its fastest pace in decades this year.
The Thiele family will remain major shareholders in German airline Lufthansa following the death of Heinz Hermann Thiele, two people with knowledge of the matter said on Thursday.
Part of the reason why U.S. stocks are struggling for a second straight week may be quarter- and month-end rebalancing by pension funds, which could also keep pressure on equities through the end of March next week.
The U.S. dollar climbed against a basket of major currencies again on Thursday, leaping over a four-moth high, as investors' pared their appetite for risk.
Robinhood Markets Inc is building a platform to "democratize" initial public offerings (IPOs), including its own, that would allow users of its trading app to snap up shares alongside Wall Street funds, according to people familiar with the matter.
A huge container ship blocking the Suez Canal like a "beached whale" may take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday in a new setback for global trade.
The Egyptian canal blockage comes a year too late for shipping firms. Unless the Ever Given shifts, ships may have to re-route around Africa, costing time and fuel. In 2020, cheap crude meant many did that anyway. Ed Cropley explains how, with oil now dearer, it's a tough choice.
Facebook CEO Mark Zuckerberg on Thursday tried to defend his social media platform's role in the 2020 U.S. election and deflect blame for the January 6th insurrection, telling lawmakers that Facebook did its part and former President Trump should be held accountable for his words.
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