Business

A Biogen facility in Cambridge, Massachusetts.Brian Snyder | ReutersCheck out the companies making headlines in midday trading.Apple — Apple shares fell 3.4% on Wednesday following a report that the company is ditching plans to boost new iPhone production. Instead of aiming to increase output by 6 million units in the second half of the year as…

The central bank said it was monitoring the "significant repricing" of U.K. and global assets in recent days.Bloomberg | Bloomberg | Getty ImagesLONDON — The Bank of England will suspend the planned start of its gilt selling next week and begin temporarily buying long-dated bonds in order to calm the market chaos unleashed by the new…

Unitil has requested approval of a rate hike from the New Hampshire Public Utilities Commission, saying it has to raise costs over the winter.Unitil is the latest utility company to make such a request after other utilities announced rate hikes over the summer. The company is on a different buying schedule, which is why it's filing later…

Mitch Lowe, left, and Ted Farnsworth, right, were execs for MoviePass and parent company HMNY, respectively. They were at the head of decision making when MoviePass started using abusive tactics to limit their app’s use among its most fervent users.Photo: Dave Kotinsky/Getty Images (Getty Images)The story of MoviePass’ downfall is a rerun that…

Stocks rose Tuesday, as the Dow Jones Industrial Average and S&P 500 bounced back from their lowest closing levels in nearly two years.The Dow Jones Industrial Average advanced 328 points, or 1.1%. The S&P 500 gained 1.5%, and the Nasdaq Composite rose 2%. The British pound rebounded slightly after plunging to a record low against the…

As the British pound plummets in value, the US dollar is flying high. Against a tumultuous backdrop that includes the Ukraine war, soaring prices and China’s COVID lockdowns, sharp fluctuations of some of the world’s major currencies are injecting new uncertainty into the global economic outlook. Why is the British pound in freefall? On Monday,…

Cashiers, baristas, bartenders, cooks and lounge attendants at San Francisco International Airport launched an open-ended strike Monday over staffing levels and wages, shutting down most of one of the nation’s busiest airport’s food concessions.Flight attendants at United and Southwest airlines on Tuesday are expected to demonstrate at 21…

LONDON — The British pound hit an all-time low against the U.S. dollar on Monday following the new government’s move to enact sweeping tax cuts to boost growth, adding to global recession fears.The pound’s slide comes as Britain grapples with a cost-of-living crisis and soaring public debt amid deteriorating investor confidence. It also raised…

Brent crude slides below $85 a barrel as dollar surgesBrent crude fell below $85 a barrel Monday, as recession fears mount and the U.S. dollar surged.Brent futures for November settlement were trading down over 1% around $84.92 at 8 a.m. London time. West Texas Intermediate futures also fell to trade around $77.93.Central banks around the world…

Hedge fund manager Dan Niles has revealed his outlook for the S & P 500 after the Federal Reserve hiked rates by 75 basis points for the third consecutive time. The founder of The Satori Fund said he expects the index to drop by 30% to 50% from its most recent peak by the end of next year. The S & P 500 hit an all-time high of 4,797 in…