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Deliveroo CEO to step down following DoorDash takeover
Will Shu, founder of food delivery app Deliveroo, will step down as its chief executive once US rival DoorDash completes a takeover of the British group, a statement said Thursday. "Taking Deliveroo from being an idea to what it is today has been amazing," Shu said in the statement.
Germany's Continental launches IPO of car parts unit
Trading in Continental's struggling auto parts division got off to a slow start Thursday as it was listed on the Frankfurt stock exchange, the latest upheaval in Germany's car industry. Aumovio CEO Philipp von Hirschheydt hailed a "bold new chapter" as he rang the bell at the Frankfurt Stock Exchange to mark the start of trading.
Asian markets fluctuate after Fed cuts interest rates
Equities wavered in Asia on Thursday after the Federal Reserve lowered interest rates but left investors wondering how many more cuts were in the pipeline despite boss Jerome Powell warning about the struggling jobs market.
Judge weighs court's powers in Trump climate case
A federal judge overseeing a closely watched climate case on Wednesday pressed the lawyer representing young Americans suing President Donald Trump on whether courts have constitutional authority to rein in his fossil-fuel agenda.
Meta expands AI glasses line in a bet on the future
Meta showed off new smart glasses on Wednesday as it continued to bank on a lifestyle shift toward blending reality and virtual space despite the efforts inflicting heavy financial losses. But Reality Labs -- Meta's virtual and augmented reality unit -- has consistently posted big losses.
New York officials sink Times Square casino bid
A well-financed campaign to build a casino in the heart of New York's theater district collapsed Wednesday as a government-appointed panel voted down the proposal. Other Caesars supporters included the Reverend Al Sharpton, whose organization was poised to oversee a new $15 million civil rights museum financed by the casino coalition if the Times Square proposal had been built.
US stocks end mixed as Fed rate cut sparks volatility
Wall Street stocks finished mixed after the Federal Reserve announced its first interest rate cut of 2025 and signaled it could enact two more cuts this year. Based on the projections released Wednesday, Hogan said Fed policy makers appeared to be close to evenly split between those who expect at least two interest rate cuts later this year and those who anticipate one or fewer.
Louboutin taps Jaden Smith to lead well-heeled shoemaker's men's line
Christian Louboutin of scarlet-stiletto fame on Wednesday named Jaden Smith, who has followed in his superstar father Will's footsteps as an actor and rapper, as artistic director of the French shoemaker's men's collection. "Jaden Smith will unveil four collections per year, including shoes, leather goods, and accessories," the brand said in a statement.
Canada central bank cuts key lending rate citing Trump tariffs
Canada's central bank cut its key lending rate on Wednesday, offering a boost to borrowers in an economy squeezed by US President Donald Trump's trade war. - Trump has so far maintained tariff exemptions on goods compliant with an existing North American free trade agreement, partly muting the damage to Canada's economy.
AFP
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