By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks eked out a slight gain on Monday as investors engaged in some bargain hunting after last week’s losses, the biggest percentage declines of 2023 for Wall Street’s main benchmarks, as jitters persisted about coming interest rate hikes to tame stubbornly high inflation. All three main stock …
Stocks close slightly up after prior week’s selloff Read More »
(Reuters) – Zoom Video Communications Inc on Monday forecast annual revenue below Wall Street estimates, as demand for its video-conferencing services slows down in the face of economic uncertainty. The company expects revenue between $4.44 billion and $4.46 billion for fiscal 2024, compared with analysts’ average estimate of $4.6 billion, according to Refinitiv IBES data. …
(Reuters) -Meta Platforms Inc is creating a new top-level product group focused on generative artificial intelligence (AI), Chief Executive Mark Zuckerberg said on Monday. The new development will heat up an AI arms race as Big Tech companies rush to integrate the technology into their products and impress investors. “We’re starting by pulling together a …
Meta is creating new top-level product group focused on generative AI – CEO Read More »
By Lisa Baertlein LONG BEACH, Calif. (Reuters) – Collapsing ocean shipping rates would seem to be good news for U.S. retailers, but they are now bracing for delays as some carriers try to prop up prices by cancelling voyages. Retailers had paid as much as $20,000 to move a container of goods during the worst …
U.S. retailers’ ocean shipping price woes ending, but new delays threaten Read More »
(Reuters) – AMC Entertainment Holdings Inc will face an April 27 hearing in a lawsuit claiming it circumvented shareholders who were against adding more shares, a Delaware chancery court judge ruled on Monday. AMC common shares were up by as much as 28% on Monday afternoon, while preferred shares were down around 4%. Vice Chancellor …
AMC shares up as judge sets April hearing in shareholder case Read More »
By Samuel Indyk LONDON (Reuters) – British bank NatWest said it now expects the Federal Reserve to raise interest rates by 50 basis points at its March meeting following Friday’s personal consumption expenditures (PCE) data for January. NatWest also expects 25-basis point hikes at the May and June meetings, which would take the terminal rate …
A look at the day ahead in European and global markets from Anshuman Daga Markets are back to inflation watching. Just as global economic growth worries ease and labour markets remain tight, price trends have become the main focus for investors. A slew of strong U.S. economic data has reinforced the view that interest rates …
(Reuters) – Russian online bank Tinkoff, run by TCS Group Holding, said on Sunday it would suspend trading in euros from Monday following the imposition of a further set of European Union sanctions. The EU agreed a 10th round of punitive measures late on Friday to punish Russia for invading Ukraine. The package includes cutting …
Russia’s Tinkoff bank to suspend trading in euros from Feb 27 Read More »
By David Lawder BENGALURU (Reuters) – U.S. Treasury Secretary Janet Yellen said on Saturday she was willing to negotiate with Republicans in Congress over the Biden administration’s budget proposal to be unveiled next month – but not as a condition of raising the debt ceiling. Yellen told Reuters in an interview that the Biden budget …
Yellen says she will talk deficit-reduction with Republicans, not debt limit Read More »
By David Lawder BENGALURU (Reuters) – U.S. Treasury Secretary Janet Yellen told Reuters on Saturday that new U.S. data showing inflation jumped unexpectedly in January signals that the fight against inflation “is not a straight line” and more work is needed. In an interview with Reuters at a G20 finance leaders meeting in India, Yellen …
Yellen says U.S. inflation fight ‘not a straight line’ after price rise data Read More »
