Trafic Infos: Wall Street Opimes, Russia Sanctions

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Wall Street closes higher after 7 straight weeks of losses

NEW YORK (AP). On Monday, Wall Street stocks closed higher after a seven-week decline that nearly ended the bull market that began in March 2020. The S&P 500 was up 1.9%, the Dow Jones Industrial Average was up 2% and the Nasdaq was up 1.6. %. Bank and tech stocks have made some of the strongest gains so far. Inflation worries weigh on the market and…

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Wall Street closes higher after 7 straight weeks of losses

NEW YORK (AP). On Monday, Wall Street stocks closed higher after a seven-week decline that nearly ended the bull market that began in March 2020. The S&P 500 was up 1.9%, the Dow Jones Industrial Average was up 2% and the Nasdaq was up 1.6. %. Bank and tech stocks have made some of the strongest gains so far. Inflation worries weigh on the market and have kept the major indices down lately. The S&P 500 ended its longest weekly losing streak since the dot-com bubble collapsed in 2001. The yield on 10-year Treasury bonds, which help set mortgage rates, rose to 2.86%.

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Zelensky calls for ‘maximum’ sanctions against Russia at Davos talks

DAVOS, Switzerland (AP) — Ukrainian President Volodymyr Zelensky is calling for “maximum” sanctions against Russia during a virtual speech at the World Economic Forum in Davos, Switzerland. On Monday, he said sanctions must go further to stop Russian aggression, including an oil embargo, blocking all of its banks and cutting off trade with Russia entirely. Zelenskiy also says Ukraine needs at least $5 billion a month. He says the country has “more than half a trillion dollars in losses.” He added that tens of thousands of lives could have been saved if Ukraine “immediately, back in February, received 100% of our needs” in terms of weapons, funding, political support and sanctions against Russia.

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For Americans, 2021 brought the healthiest finances in 8 years

WASHINGTON (AP) — Americans’ financial health hit its highest level in nearly a decade last year, the Federal Reserve said Monday, helped by a strong labor market and government bailouts. Nearly eight in 10 adults said last fall they are “doing well or living comfortably” when it comes to their finances in 2021, according to the Fed’s annual survey, the highest since the survey began in 2013.

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Contractor exit draws Shell’s climate attention

BERLIN (AP) — A longtime Shell contractor has accused the oil and gas company of “double-talking” by saying it wants to cut greenhouse gas emissions while working to tap into new sources of fossil fuels. Security consultant Caroline Dennett said on Monday she was ending her ties with the company and urged others in the fossil fuel industry to do the same. In a public post on LinkedIn, she stated that Shell is not phasing out fossil fuels. Shell insists that it aims to achieve zero emissions by 2050. On Tuesday, the company is due to hold its annual general meeting of shareholders. He said he had set goals for the short, medium and long term and was already investing billions of dollars in low-carbon energy.

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Video game workers form first union for major US game maker

Milwaukee (AP) — Workers in the video game division of game publisher Activision Blizzard have voted to unionize, forming the first union at a major American video game company. Monday’s ballot count revealed election results affecting a small group of Wisconsin quality assurance testers at Activision Blizzard’s Raven Software, which develops the popular Call of Duty game franchise. The score was 19-3. The unionization campaign for Raven’s employees in Middleton, Wisconsin is part of a wider internal reshuffle at Activision Blizzard, the Santa Monica, California-based gaming giant that employs about 10,000 employees worldwide.

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Washington sues Zuckerberg over Cambridge Analytica privacy breach

WASHINGTON (AP) — The District of Columbia is suing Meta CEO Mark Zuckerberg. He seeks to hold him personally accountable for the Cambridge Analytica scandal, a breach of the privacy of millions of Facebook users that has become a major corporate and political scandal. D.C. Attorney General Carl Racine filed a civil lawsuit against Zuckerberg in the D.C. Supreme Court. The lawsuit alleges that Zuckerberg was directly involved in important company decisions and was aware of the potential dangers of sharing user data, as was the case with data collection company Cambridge Analytica. This firm collected data on 87 million Facebook users without their permission. Meta Platform spokesman Andy Stone declined to comment.

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Starbucks leaves the Russian market, closing 130 stores

Starbucks leaves the Russian market. In a memo to employees on Monday, the Seattle-based coffee giant said it had decided to close its 130 stores and no longer have a brand presence in Russia. Starbucks said it would continue to pay its nearly 2,000 Russian employees for six months and help them transition to new jobs. Starbucks stores in Russia are owned and operated by Alshaya Group, a Kuwaiti-based franchise operator. Starbucks suspended all operations in Russia on March 8 due to the war in Ukraine.

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Meta and Twitter boards face backlash from NYC pension fund

SAN FRANCISCO (AP) — A major New York-based pension fund that has invested in both Facebook’s parent company and Twitter says it’s time to shake up the companies’ boards over their inability to keep violent content out of their influential social networks. The New York State General Pension Fund outlined its grievances against the owners of Facebook Meta Platforms and Twitter in separate letters dated May 19, which were filed on Monday with the Securities and Exchange Commission. The letter outlines the fund’s plans to vote against the directors of Meta and Twitter seeking re-election at the companies’ respective annual shareholder meetings on Wednesday.

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The S&P 500 added 72.39 points, or 1.9%, to 3973.75. The Dow Jones Industrial Average rose 618.34 points, or 2%, to 31,880.24. The Nasdaq rose 180.66 points, or 1.6%, to 11,535.27. The Russell 2000 Small Companies Index rose 19.50 points, or 1.1%, to 1792.76.

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