Reuters US Business

By Tom Westbrook and Stella Qiu SINGAPORE/SYDNEY (Reuters) – Volatility has exploded in an obscure but important corner of Australia’s $113-billion-a-day interest-rate derivatives market, with disruption flowing across fixed income products. Dealers say the typically stable market for swapping fixed and floating rate payments has turned wild due to a combination of policy changes, speculation …

Analysis-Australia’s lopsided swaps market creates pockets of pricing mayhem Read More »

By Dominique Vidalon PARIS (Reuters) -Carrefour will step up its expansion in e-commerce, open more discount stores and cut costs as part of boss Alexandre Bompard’s new strategy to accelerate the turnaround at Europe’s largest food retailer amid soaring inflation. The French group, which also announced a media joint venture with ad giant Publicis, said …

Carrefour plans investments and savings to tackle inflation Read More »

MEXICO CITY (Reuters) – Mexico’s FEMSA has signed an agreement to purchase financial services company NetPay as the retailer and Coke bottler expands its digital payments portfolio into business-to-business transactions, the company said on Monday. “This acquisition will allow us to extend our value proposition to micro, small and medium-sized companies,” Digital@FEMSA Chief Executive Jose …

Mexico’s FEMSA to purchase financial services NetPay in B2B fintech bid Read More »

(Reuters) – Fertilizer maker Mosaic Co’s third-quarter profit more than doubled as farmers seek out plant nutrients to maximize crop yields at a time of low global grain stocks. The world’s largest producer of finished phosphate products reported net income of $841.7 million, or $2.42 a share, in the three months ended Sept. 30, from …

Mosaic third-quarter profit more than doubles Read More »

(Reuters) – Ride-hailing company Lyft Inc on Monday forecast current-quarter revenue slightly below Wall Street estimates, hurt by competition from Uber Technologies Inc even while demand for rideshare picks up and prices rise. Lyft’s shares were down 9% in extended trading. The stock has lost nearly 70% of its value so far this year, underperforming …

Lyft shares plunge after revenue forecast disappoints Read More »

(Reuters) – U.S. oil and gas producer Diamondback Energy Inc on Monday reported an 82% rise in third-quarter profit helped by a surge in crude prices due to tighter energy supplies following Russia’s invasion of Ukraine. Energy companies are posting strong profits as crude and natural gas prices have soared following Western sanctions against major …

Diamondback Energy reports 82% rise in third-quarter profit Read More »

(Reuters) – Take-Two Interactive Software Inc cut its annual sales forecast on Monday, the latest videogame publisher to be hit by this year’s dollar spike and a broader gaming industry slump. Shares of the company were down nearly 10% in extended trading. The easing of COVID-19 curbs, an over 15% rise in the dollar this …

Take-Two deepens videogame industry gloom with annual forecast cut Read More »

By Noel Randewich and Amruta Khandekar (Reuters) – Wall Street ended sharply higher Monday as investors focused on Tuesday’s midterm elections that will determine control of Congress, while shares of Meta Platforms jumped on a report of job cuts at the Facebook parent. Republicans are favored to win a majority in the House of Representatives …

U.S. stocks end higher, Meta jumps as investors eye midterms Read More »

(Reuters) -Medibank Private Ltd, Australia’s biggest health insurer, on Monday said no ransom payment will be made to the criminal responsible for a recent data theft, wherein around 9.7 million current and former customers’ data was compromised. Highlighting findings of the firm’s investigation to date, Medibank confirmed that name, date of birth, address, phone number, …

Medibank says hacker accessed data of 9.7 million customers, refuses to pay ransom Read More »