MOSCOW (Reuters) – The Russian rouble stabilised near 60 against the dollar on Thursday, lacking new momentum, while shares in TCS, owner of Russia’s Tinkoff Bank, and retailer M.Video-Eldorado fell after earnings reports. At 0718 GMT, the rouble was little changed on the day at 59.86 against the dollar and eased 0.4% to trade at …
Rouble steadies near 60 vs dollar; TCS, M.Video shares down after results Read More »
By Daniel Wiessner (Reuters) -A California state judge on Wednesday said he would likely deny Tesla Inc’s bid to dismiss a lawsuit by the state’s civil rights agency accusing the electric car maker of widespread race discrimination at an assembly plant. California Superior Court Judge Evelio Grillo in Oakland in a tentative written order rejected …
Tesla likely must face California agency’s race bias lawsuit Read More »
By Eva Mathews and Jane Lanhee Lee (Reuters) -Graphics chip designer Nvidia Corp on Wednesday forecast a sharp drop in revenue in the current quarter on the back of a weak gaming industry. The company said it expected third quarter revenue of $5.90 billion, down 17% on year, but said the declines would be partially …
Nvidia forecasts sharp drop in third-quarter sales as games drag Read More »
(Reuters) -Salesforce Inc on Wednesday cut its full-year revenue forecast to below market estimates over a sharp hit from a strong dollar and “measured” purchases from its customers, sending shares down 6% in extended trading. Analysts had warned that macroeconomic factors such as inflation and slowing U.S. growth could hurt the spending power of small- …
Salesforce cuts revenue forecast on forex hit, lower IT spending Read More »
(Reuters) – U.S. new vehicle prices are expected to hit a record high in August on the back of strong demand despite rising interest rates, an industry report showed on Wednesday. Average transaction prices are set to reach a record $46,259, an 11.5% increase from a year earlier, according to the report from auto industry …
U.S. new vehicle prices to hit record high despite rising interest rates Read More »
By Noel Randewich and Bansari Mayur Kamdar (Reuters) – Wall Street ended higher on Wednesday, lifted by gains in energy stocks and Intuit while investors awaited the U.S. Federal Reserve’s Jackson Hole conference this week. Boosting the tech-heavy Nasdaq, Intuit Inc rallied almost 4% after the accounting software maker forecast upbeat fiscal 2023 revenue. After …
Wall Street ends higher, with all eyes on Jackson Hole Read More »
HELSINKI (Reuters) -A possible digital euro currency, which the European Central Bank is studying, could have several benefits such as facilitating cross-border payments and providing a digital monetary anchor, Finnish ECB policymaker Olli Rehn said on Tuesday. The investigation phase for the digital euro is expected to be concluded in October 2023, Rehn said in …
ECB’s Rehn sees several benefits to possible digital euro Read More »
By William Schomberg and Balazs Koranyi LONDON/FRANKFURT (Reuters) – This time last year, the world’s biggest central banks were united in getting the inflation story wrong. Now, as top policymakers gather for the Kansas City Federal Reserve’s annual monetary policy conference in Jackson Hole, Wyoming, the U.S. central bank looks like it might manage a …
Central bankers head to U.S. mountains with a bad case of inflation reflux Read More »
By Uday Sampath Kumar and Mehr Bedi (Reuters) -Nordstrom Inc and Macy’s Inc cut their annual earnings expectations on Tuesday as a slump in demand from inflation-hit customers left the department store chains with excess inventory that would require steep discounts to move. Soaring prices of gasoline and groceries have prompted Americans to curb spending …
Macy’s, Nordstrom cut profit views as excess inventory prompts discounts Read More »
WASHINGTON (Reuters) – The U.S. Internal Revenue Service is reviewing safety and security measures in response to an “abundance” of threats and misinformation on social media about the agency and its employees, IRS Commissioner Charles Rettig said in a staff memo released on Tuesday. Rettig said the steps include new risk assessments, monitoring perimeter security …
U.S. IRS launches security review after threats, misinformation on social media Read More »
