By Ananya Mariam Rajesh and Uday Sampath Kumar (Reuters) -Mattel Inc cut its annual profit forecast on Tuesday and said it would ramp up promotions heading into the busy holiday season as red-hot inflation discourages Americans from spending on its Barbie dolls and Fisher-Price toys. Shares of the California-based toymaker fell about 4% in extended …
Toymaker Mattel cuts profit forecast as inflation drags demand Read More »
(Reuters) -Chipotle Mexican Grill Inc on Tuesday reported quarterly higher sales that topped Wall Street expectations, as higher menu prices did not dissuade the restaurant’s affluent customers from digging into its burritos and rice bowls. While concerns around demand at U.S. restaurants have been mounting due to decades-high inflation, analysts have noted that sales bounced …
Chipotle beats quarterly sales estimates on steady demand Read More »
(Reuters) – BlackRock Inc has raised $4.5 billion out of an overall $7.5 billion-target for a new fund to invest in infrastructure assets aimed at climate-focused projects, the world’s largest asset manager said on Tuesday. BlackRock, which manages around $8 trillion in assets, said public and private pension funds, sovereign wealth funds, insurance companies and …
BlackRock raises $4.5 billion for climate-focused infrastructure fund Read More »
RIYADH (Reuters) – Goldman Sachs CEO David Solomon said on Tuesday the U.S. Federal Reserve said economic conditions will “tighten meaningfully from here” and the U.S. Federal Reserve could hike rates beyond 4.5-4.75% if it does not see real changes in behaviour. “So I too am in the camp that we likely – likely have …
Goldman’s Solomon: Fed could raise beyond 4.5-4.75% if no ‘real changes in behaviour’ Read More »
(Reuters) – The Republican National Committee (RNC) filed a lawsuit against Alphabet Inc’s Google on Friday for allegedly sending its emails to users’ spam folders. The U.S. political committee accuses the tech giant of “discriminating” against it by “throttling its email messages because of the RNC’s political affiliation and views,” according to a lawsuit filed …
Republican National Committee sues Google over email spam filters Read More »
WASHINGTON (Reuters) – The online liquor market Drizly settled with the U.S. Federal Trade Commission (FTC) over a data breach that exposed information about 2.5 million people, the agency said Monday. Under terms of the settlement, Drizly is required to destroy unnecessary data, restrict what it collects and requires Chief Executive James Rellas to follow …
Online liquor deliver company Drizly settles with U.S. FTC over data breach Read More »
(Reuters) – The U.S. Securities and Exchange Commission has charged Canadian cannabis company Cronos Group Inc and its former chief commercial officer with accounting fraud, the regulator said on Monday. Cronos and the former executive, William Hilson, offered to settle the matter, without admitting or denying the SEC’s findings, by agreeing to cease and desist …
U.S. SEC charges cannabis firm Cronos, former exec with accounting fraud Read More »
(Reuters) -U.S. President Joe Biden’s administration ratcheted up economic pressure on Nicaraguan President Daniel Ortega’s government on Monday through a series of steps targeting the country’s mining, gold and other sectors. Biden signed an executive order that includes the authority to ban U.S. companies from doing business in Nicaragua’s gold industry, while the U.S. Treasury …
U.S. mining sanctions take aim at Nicaragua’s Ortega Read More »
By Stephen Culp NEW YORK (Reuters) – U.S. stocks advanced on Monday, extending last week’s gains as signs of economic softness suggested the effects of the Fed’s aggressive policy aimed at cooling the economy, thereby curbing decades-high inflation, are beginning to take root. All three major U.S. stock indexes gained momentum throughout the first session …
Wall St closes sharply higher on hopes of abating Fed Read More »
SYDNEY (Reuters) – Australia’s Labor government will unveil its first budget on Tuesday as economic growth slows both at home and abroad, emphasizing its spending will focus on easing the cost-of-living crisis without lighting a fire under already high inflation. Keen to avoid Britain’s recent mini-budget debacle, Treasurer Jim Chalmers has said officials have worked …
Australia’s budget to downgrade growth, keep spending in check Read More »
