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Rumble, Braze rise; Virgin Orbit, Sientra fall changes

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Friday: Virgin Orbit Holdings Inc., down 14 cents to 20 cents. Richard Branson’s satellite launch company is letting go of almost its entire work force. Pineapple Energy Inc., up 16 cents to $1.59. The broadband network services company beat analysts’ fourth-quarter financial forecasts. BlackBerry Ltd., up 56 cents to $4.56. The cybersecurity software and services company beat analysts’ fourth-quarter earnings expectations. Adverum Biotechnologies Inc., unchanged at 72 cents. The gene ...

Stocks gain as Wall Street closes out winning quarter

NEW YORK (AP) — Stocks are rallying Friday, as Wall Street closes out a winning March and first quarter of the year despite a long list of worries for investors. The S&P 500 was 1.1% higher in afternoon trading. It’s on pace for a 3.1% gain for the month and a second winning quarter in a row after tumbling through most of last year on worries about high interest rates meant to get inflation under control. The Dow Jones Industrial Average was up 325 points, or 1%, at 33,185, as of 3:05 p.m. Eastern time, while the Nasdaq composite was 1.4% higher. Friday’s gains came after a ...

How a little-known agency holds power over TikTok’s future

WASHINGTON (AP) — Under pressure from the U.S. government, TikTok is now facing the music with the possibility of a nationwide ban if it defies a government order to sell to an American company — unless the popular social media app can convince a high-powered panel that its data security restructuring plan sufficiently guards against national security concerns. At the heart of this social media business and national security drama is the increasingly tense relations between the U.S. and China. The video-sharing platform with 150 million U.S. users is best known for quick snippets ...

Huawei profit sinks in 2022 amid sanctions, but sales higher

HONG KONG (AP) — Huawei on Friday reported a nearly 70% decline in profit last year amid sanctions and pandemic challenges, but its enterprise sales rose as the Chinese technology giant sought to pivot into digital industries and reduce its vulnerabilities to U.S. sanctions. “While it’s true that we have considerable pressures ahead of us, we still see opportunities to grow a resilient business portfolio, a unique competitive edge, the trust of our customers and partners and have the courage to invest heavily in R&D,” Eric Xu, the outgoing rotating chairman of Huawei, said at a ...

Stocks keep climbing as fear keeps falling on Wall Street

NEW YORK (AP) — Stocks are rising again on Thursday as a bit more fear evaporates from Wall Street. The S&P 500 was 0.2% higher in afternoon trading. It’s on pace for its fifth gain in the last six days, and its recent roll has it up for the month after struggling in earlier weeks on worries about whether the banking system was cracking under the weight of higher interest rates. The Dow Jones Industrial Average was down 15 points, or 0.1%, at 32,703, as of 12:51 p.m. Eastern time, while the Nasdaq composite was 0.5% higher. Forceful actions by regulators worldwide have helped ...

Former CEO to fix World Bank, solve the world’s climate finance

The Conversation Over the past two years, a drumbeat of calls for reforming the World Bank has pushed its way onto the front pages of major newspapers and the agenda of heads of state. Many low- and middle-income countries – the population the World Bank is tasked with helping – are falling deeper into debt and facing growing costs as the impacts of climate change increase in severity. A chorus of critics accuse the World Bank of failing to evolve to meet the crises. The job of leading that reform is now almost certain to fall to Ajay Banga, an Indian American businessman and ...