Reuters US Business

By Dawn Chmielewski (Reuters) – Florida lawmakers granted Governor Ron DeSantis effective control of the board that oversees development in and around Walt Disney Co’s central Florida theme parks, escalating the Republican’s battle with the emblematic company. The state Republicans targeted Disney after it publicly clashed with DeSantis last year over a law that restricts …

Florida governor assumes control over Disney district board Read More »

By David Lawder WASHINGTON (Reuters) -The U.S. government posted a $39 billion budget deficit for January after a $119 billion monthly surplus a year earlier, as revenues dipped and one-time costs, including the bailout of a union pension fund, pushed outlays sharply higher, the Treasury Department said on Friday. The report, which comes as Treasury …

U.S. posts $39 billion January deficit after pension fund bailout Read More »

By Ross Kerber (Reuters) – Well-known Tesla Inc investor Ross Gerber said on Friday he plans to notify the electric carmaker that he will run for its board of directors, citing problems with its public relations, customer service and succession planning. Gerber said in a telephone interview with Reuters that he aims to be considered …

Investor Gerber to run for Tesla board, cites PR and service issues Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. monthly consumer prices rose in December instead of falling as previously estimated and data for the prior two months was also revised up, which some economists said raised the risk of higher inflation readings in the months ahead. The consumer price index edged up 0.1% in December rather …

Revisions show U.S. consumer prices a bit firmer than previously reported Read More »

(Reuters) – Media conglomerate News Corp missed estimates for second-quarter revenue on Thursday, as its news and digital real estate businesses took a hit from a slump in ad spending and a weakness in the housing market. Shares of the company fell 1.4% in extended trading after its first quarterly report since Rupert Murdoch’s decision …

Dow Jones-owner News Corp misses estimates for quarterly revenue Read More »

By Carolina Mandl (Reuters) – U.S. stock indexes ended lower on Thursday, erasing earlier gains as Treasury yields rose after an auction of 30-year bonds went poorly and overshadowed strong earnings from corporate giants like Disney and PepsiCo. “The stock market started today’s session with a distinct bullish bias, but then Treasury yields moved up …

Wall St dips as Treasury yields rise after auction Read More »

(Reuters) -PayPal Holdings Inc forecast full-year profit above Wall Street estimates on Thursday, as the payment firm’s customers undeterred by decades-high inflation continue to spend, and said Chief Executive Dan Schulman will retire at the end of the year. While macroeconomic pressures have begun to pressure American consumers, particularly those in the lower income bracket, …

PayPal forecasts strong full-year profit, says CEO to retire Read More »

(Reuters) – Online travel booking company Expedia Group Inc missed Wall Street estimates for fourth-quarter profit on Thursday, as severe weather conditions toward the end of the year hurt its business despite strong travel demand. Expedia reported fourth-quarter adjusted profit of $1.26 per share, missing analysts’ average estimate of $1.67 per share, according to Refinitiv …

Expedia profit misses as severe weather weighs on holiday quarter Read More »

(Reuters) – Lyft Inc on Thursday forecast current-quarter revenue below Wall Street estimates, blaming extremely cold weather in some of its major markets and lower prices, especially during peak hours, sending its shares down 23% in extended trading. The company’s outlook was in contrast to that of its larger rival Uber Technologies Inc, whose strong …

Lyft forecasts revenue below estimates, blames cold weather, lower prices Read More »