Gross domestic product grew 0.1% from October to December compared with the previous three-month period, in comparison with the stagnation previously estimated in February, according to data from the Office for National Statistics released Friday.
Dow Jones Newswires: Universal Music Group extends CEO’s contract, slashes salary after 2022 profit drop
UMG posted a net profit of 782 million euros ($852.7 million) in 2022, down 12% from 2021, the company said earlier this month.
: Money is moving out of bank accounts, but not necessarily because customers are panicking
‘We’re not seeing a freak-out situation,’ said J.D. Power’s senior director of banking about changes in consumers’ banking habits.
: Nikola to sell stock at 20% discount to record low price
Nikola Inc. shares closed at an all-time low Thursday, and the maker of electric and fuel-cell big-rigs expects to sell stock at a 20% discount to that price.
: Netflix to make fewer movies, 2 execs to depart: reports
Netflix Inc. is cutting ties with two longtime creative executives amid a restructuring that will result in the streaming service making fewer movies each year, according to reports late Thursday.
The Margin: Trump indictment draws ‘lock him up’ cheers and ‘it is un-American’ jeers online
Former President Donald Trump called the indictment ‘political prosecution.’ Meanwhile, Stormy Daniels’ lawyer said that the situation is ‘no cause for joy’
Market Extra: Assets in money-market funds touch new $5.2 trillion record, ICI says
Investors on the prowl for yield in cash-like investments put another $66 billion into money-market funds this week, bringing total assets to a record $5.2 trillion, according to the Investment Company Institute.
The Conversation: Trump indictment won’t keep him from presidential race, but will make his reelection bid much harder
Indictment, conviction or both — let alone a prison sentence — would significantly compromise a president’s ability to function in office.
: Virgin Orbit stock plunges after report says company will cease operations
Virgin Orbit Holdings Inc. plans to cease operations, according to a CNBC report Thursday afternoon.
The Fed: Banks trim borrowing from the Fed for second straight week in wake of SVB failure
Banks reduced overall borrowing from the Federal Reserve for the second straight week in the aftermath of the failure of Silicon Valley Bank.
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