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Friday,04 November 2022 at 16:57
been sued by staff members as Elon Musk begins a programme of sweeping job
The billionaire plans to sack 3,700 employees – around half the company’s
workforce – as he tries to cut costs following his $44bn (£38bn) takeover.
Workers in the US have filed a class-action lawsuit in San Francisco saying the
lack of notice over the sackings is in violation of federal and California law,
which requires up to 60 days of notice for mass job cuts.
U.K. and European
stocks climbed as markets rounded out a big week for
central bank policy decisions and corporate earnings.
U.S. stocksgave up a morning rally as
traders assessed monthly employment figures and weighed talks
that China may ease COVID restrictions.
Oil rose as
the dollar eased, with an EU ban on Russian oil looming large and investors
weighing the prospects for an easing of China’s Covid curbs.
Gold priced higher.
At the close
FTSE 100 7,334 +2.03%
FTSE 250 18,341 +1.28%
DAX 13,461 +2.53%
Dow Jones 32,084 +0.26%
S&P 500 3,731 +0.39%
NASDAQ 10,378 +0.31%
UK 10-YR YIELD 3.534
Gold $1,673 +2.74%
Brent $98.37 +4.06%
Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.