LONDON (Reuters) – Europe’s bank shares sank on Friday, heading for their heaviest daily loss since March 23. An index of euro zone banks was last down 3%, and a wider index of European banks was down 2.5%, underperforming the pan-regional STOXX 600 index, which fell 0.4%. The biggest laggards in percentage terms were UK …
European bank stocks head for biggest drop in a month Read More »
By Francesco Canepa and Belén Carreño FRANKFURT/MADRID (Reuters) – Economic data from across the euro zone on Friday painted a mixed picture for growth and inflation, potentially making the European Central Bank’s interest rates decision next week even more difficult. The euro zone’s two largest economies, Germany and France, stagnated or barely grew in the …
Conflicting economic data muddies picture for ECB Read More »
By Sachin Ravikumar LONDON (Reuters) -Thousands of railway workers in Britain will go on strike on May 13 after the RMT trade union rejected the latest pay offer by train companies, an escalation in a long-running dispute that has caused disruptive strikes since last summer. The National Union of Rail, Maritime and Transport Workers (RMT) …
UK railway workers to strike in May after rejecting latest pay offer Read More »
By Jane Lanhee Lee and Chavi Mehta (Reuters) -Chipmaker Intel Corp on Thursday estimated second-quarter earnings below Wall Street forecasts despite its greater sales optimism, a sign that the company is still struggling to make money despite early signs of a recovery in global chip demand. Intel shares fell 2% in extended trading, having gained …
Intel profit forecast misses estimates, shares slip Read More »
By Supantha Mukherjee, Foo Yun Chee and Martin Coulter (Reuters) -Companies deploying generative AI tools, such as ChatGPT, will have to disclose any copyrighted material used to develop their systems, according to an early EU agreement that could pave the way for the world’s first comprehensive laws governing the technology. The European Commission began drafting …
EU proposes new copyright rules for generative AI Read More »
(Reuters) -Pinterest Inc forecast second-quarter revenue growth below Wall Street estimates on Thursday, as the image-sharing platform grapples with a pullback in advertising spending, sending its shares down 9% in trading after the bell. Smaller digital ad sellers such as Pinterest and Snap Inc are losing ground in a weak economy to big tech rivals …
Pinterest forecasts tepid revenue growth, shares slump Read More »
By Sheila Dang (Reuters) – Snap Inc on Thursday missed analyst expectations for quarterly revenue as recent changes to its advertising platform hurt demand for ads, and it also warned the next quarter could be below Wall Street’s targets. Shares of Snap dropped 19% in after-market trading. The Santa Monica, California-based company, which owns photo …
Snap misses revenue expectations, warns of Q2 decline Read More »
BERLIN (Reuters) – German media group ProSiebenSat.1 said on Thursday it was replacing its chief financial officer and proposing slashing this year’s dividend as it announced a nearly 20% drop in operating profit in 2022 to 678 million euros ($747.56 million). The board will propose to the annual general meeting (AGM) a dividend of 0.05 …
ProSieben to slash dividend, replaces chief financial officer Read More »
By Aditya Soni (Reuters) – Meta Platforms Inc is a Wall Street darling again. The company’s shares extended their winning streak on Thursday, surging nearly 14% after Meta’s focus on AI and cost-cutting cheered investors whose enthusiasm has already helped the social media behemoth nearly double in value in 2023. Meta, whose stock was trading …
By Philip Blenkinsop BRUSSELS (Reuters) -The European Commission proposed rules on Thursday to govern patents increasingly in demand for technologies used in smart devices such as drones, connected cars and mobile phones, to try to reduce litigation. The Commission said the system for what are known as standard-essential patents (SEPs), was fragmented, lacked transparency, led …
EU sets out patent rules for smart technology to limit law suits Read More »
