(Reuters) -Block Inc, the fintech firm led by Twitter founder Jack Dorsey, missed market estimates for first-quarter profit on Thursday as demand for bitcoin softened due to a decline in cryptocurrency prices. The company’s bitcoin revenue more than halved in the quarter to $1.73 billion, hit by a drop in interest from retail traders after …
Block misses profit estimates as bitcoin boost fades Read More »
(Reuters) – The Chernin Group, an investment firm known for backing emerging media, commerce and technology industries, announced on Thursday that it will lead a consortium making a $263 million investment in the lifestyle brand Funko Inc. TCG and its investor consortium are acquiring 12.5 million shares of Funko Class A stock from ACON Investments, …
The Chernin Group leads $263 million investment in Funko Read More »
By David Shepardson WASHINGTON (Reuters) -Major U.S. airlines, business and travel groups and other companies urged the White House on Thursday to abandon COVID-19 pre-departure testing requirements for vaccinated international passengers traveling to the United States. “Given the slow economic recovery of the business and international travel sectors, and in light of medical advancements and …
Travel industry, airlines urge end to COVID testing to enter U.S Read More »
(Reuters) – U.S. shale producer EOG Resources Inc’s first-quarter profit beat Wall Street estimates, while it raised its dividend, as the Ukraine crisis pushed oil prices to multi-year highs. The company declared a quarterly special dividend of $1.80 per share, up from $1.00 per share, after its quarterly profit more than doubled. Oil producers have …
EOG Resources beats profit expectations, raises dividend on soaring oil prices Read More »
(Reuters) -Air Lease Corp on Thursday reported a quarterly loss after the aircraft lessor recorded a previously announced $802.4 million charge on the value of jets stranded in sanctions-hit Russia. Global aircraft leasing companies have been scrambling to repossess more than 400 jets worth almost $10 billion from Russian airlines, which have mostly been unresponsive …
Air Lease posts quarterly loss on charges from jets stranded in Russia Read More »
(Reuters) -Electric carmaker Lucid Group Inc on Thursday raised prices for most models from June as it deals with rising raw materials costs, but said it would honor current reservations in a move to avoid the blowback a rival faced. From June 1, new reservations in the United States will be priced at $154,000 for …
EV maker Lucid to raise prices for most models from June Read More »
By Lucia Mutikani WASHINGTON (Reuters) – New claims for U.S. unemployment benefits increased to a more than two-month high last week, but remained at a level consistent with tightening labor market conditions and further wage gains that could keep inflation hot for a while. The report from the Labor Department on Thursday also showed the …
U.S. weekly jobless claims rise; productivity plunges at fastest pace in 74 years Read More »
By David French (Reuters) – U.S. stocks ended Thursday sharply lower amid a broad sell-off, as investor sentiment cratered in the face of concerns that the Federal Reserve’s interest rate hike the previous day would not be enough to tame surging inflation. All three main Wall Street benchmarks erased gains made during a relief rally …
Wall Street tumbles as investors fret over bigger Fed rate hikes Read More »
By Foo Yun Chee BERLIN (Reuters) – Europe’s antitrust chief Margrethe Vestager, the architect of landmark rules to curb the power of U.S. tech giants, called on Thursday for a global approach towards Big Tech to prevent companies taking advantage of enforcement gaps. Vestager, who has handed out billions of euros in fines to Alphabet’s …
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BERLIN (Reuters) -German industrial orders fell more than expected in March, driven mainly by a reduction in orders from abroad as the war in Ukraine hit manufacturing demand in Europe’s biggest economy, data showed on Thursday. Orders for industrial goods dropped 4.7% on the month in seasonally adjusted terms after an upwardly revised decline of …
German industrial orders fall as Ukraine war dampens demand Read More »
