By Stella Qiu SYDNEY (Reuters) – Australia is set to deliver its first budget surplus in 15 years on Tuesday, as its coffers bulge with tax windfalls from higher commodities prices and wages, giving it room to dole out cost-of-living relief amid an inflation squeeze on households. However, fiscal challenges loom large with resource prices …
Australia to deliver first budget surplus in 15 years Read More »
By Jonathan Stempel (Reuters) -The media entrepreneur Byron Allen has filed a second lawsuit against McDonald’s Corp over the fast-food chain’s alleged refusal to advertise with Black-owned media. In a complaint filed last week in Los Angeles, Allen’s Entertainment Studios Networks Inc and Weather Group LLC said McDonald’s “lied” when it pledged in May 2021 …
Byron Allen sues McDonald’s for allegedly lying about commitment to Black media Read More »
(Reuters) -Shale oil producer Devon Energy on Monday topped Wall Street estimates for first-quarter profit on high demand for crude oil, and raised its share repurchase program by 50% to $3 billion. Energy companies have started boosting investor returns since last year with the excess cash they generated aided by higher crude prices. While crude …
Devon Energy tops profit estimates on strong demand, boosts share buyback Read More »
(Reuters) – Memory chip firm Western Digital Corp forecast fourth-quarter revenue below Wall Street estimates and a bigger current-quarter loss, signaling that memory chip demand will take longer to recover as cloud spending also shrinks. The company’s shares fell about 1% in extended trading. Chipmakers across the board including Intel Corp have said cloud spending …
Western Digital Corp sees weak fourth quarter on slower recovery for memory chips Read More »
By Chavi Mehta (Reuters) -Data analytics software maker Palantir Technologies said on Monday it expects to turn a profit every quarter in 2023 weeks after launching its new artificial intelligence platform, sending its shares up about 28% in extended trading. The company, known for its work with the U.S. Central Intelligence Agency, also beat first-quarter …
Palantir jumps on forecast to turn profit every quarter in 2023 Read More »
By Marianna Parraga HOUSTON (Reuters) – A U.S. court of appeals has granted Venezuela a temporary stay preventing six companies from joining a proposed court auction of shares in a Citgo Petroleum parent to enforce judgments for past expropriation of assets. Since March, creditors including a unit of O-I Glass, Huntington Ingalls Industries, ACL1 Investments, …
US judge temporarily suspends six creditors from joining Citgo auction Read More »
WASHINGTON (Reuters) – A group of 43 Republicans in the U.S. Senate said they oppose voting on a bill that only raises the U.S. debt ceiling without tackling other priorities, in a letter to Democratic Senate Majority Leader Chuck Schumer, showing they could block such a plan by Democrats. Citing an economy “in free fall,” …
Senate Republicans oppose vote just to raise US debt ceiling, push for other priorities Read More »
(Reuters) – Crypto exchange Binance said that it has resumed Bitcoin withdrawals after a brief closure due to a congestion issue. Binance had paused withdrawal of Bitcoin, the world’s largest cryptocurrency, for more than an hour. Binance did not provide any further details on the issue. The world’s largest crypto exchange on March suspended deposits …
Binance resumes Bitcoin withdrawals after temporary closure Read More »
By Saeed Azhar, David French and Tatiana Bautzer NEW YORK (Reuters) -The government-brokered purchases of First Republic, Signature and Silicon Valley banks have created a vicious cycle in which troubled lenders need to fail — and get government assistance — before buyers will step up, industry sources say. The latest case in point: The Federal …
Bank buyers expect sweeteners as US government sets new bar Read More »
DUBAI (Reuters) -Saudi Arabia’s economy grew by 3.9% year-on-year in the first quarter of 2023, according to initial government estimates of real gross domestic product published on Sunday. Non-oil activities grew by 5.8% in the first quarter from a year prior, the General Authority for Statistics said, citing flash estimates, while oil activities grew by …
Saudi Arabia economy grew 3.9% in Q1 boosted by non-oil activities Read More »
