By Sheila Dang (Reuters) -Snap Inc on Thursday forecast a rosy outlook for user growth on its Snapchat app, but said supply-chain disruptions and inflation could continue to hurt advertising demand. Shares of Snap fell as much as 10% immediately after the results, but pared losses later on as investors digested the mixed results. Snap …
Snap warns inflation could hit revenue growth, forecasts higher users Read More »
By David French (Reuters) – Wall Street’s ended lower on Thursday, with the Nasdaq dropping more than 2%, as investors reacted to Federal Reserve officials including Chair Jerome Powell offering further signposting of aggressive interest rate hikes this year. A half-point interest rate increase will be “on the table” when the U.S. central bank meets …
Wall St ends down as Powell plops 50 bps rate hike on table Read More »
PARIS (Reuters) – LVMH CEO Bernard Arnault said on Thursday his business empire was eying expanding into the digital “metaverse”, but stressed that the company still wants to sell “real products”. “We’re looking closely”, said Arnault, but added that it was “not needed to rush”. (Reporting by Mimosa Spencer, writing by Tassilo Hummel, editing by …
LVMH eying metaverse, but focus on “real products”, says CEO Read More »
(Reuters) – The Russian central bank will consider cutting the key interest rate from 17% at upcoming board meetings, Governor Elvira Nabiullina said on Thursday, flagging economic challenges that Russia will face as it tries to blunt western sanctions over Ukraine. Nabiullina also said Russia is looking at adjustments to its forex controls to avoid …
Russian cenbank eyes rate cut, warns of structural economic changes Read More »
By Julia Love and Tiyashi Datta (Reuters) -Workers at an Apple Inc store in Atlanta on Wednesday filed a petition to hold a union election, seeking to become the company’s first U.S. store to unionize amid a wave of labor activity at other major firms. The effort at the Apple store in Cumberland Mall is …
Workers at Atlanta Apple store file to hold first U.S. union election Read More »
(Reuters) – Russia is looking at adjustments to its forex controls to avoid situations where the rouble exchange deviates on a shadow market from official levels, Central Bank Governor Elvira Nabiullina said on Thursday. “We are looking at how to adjust forex controls for importers so they are able to buy (foreign currency) on the …
Russian central bank chief says looking at adjusting forex controls Read More »
By Jonathan Stempel (Reuters) -Elon Musk will not be subjected to a “gag order” preventing him from discussing a lawsuit claiming he defrauded Tesla Inc shareholders by tweeting in 2018 about taking his electric car company private, a federal judge ruled on Wednesday. U.S. District Judge Edward Chen in San Francisco agreed with Musk and …
By James Davey LONDON (Reuters) -Pepco Group, owner of European discount retailer brands PEPCO, Poundland and Dealz, pledged to “protect prices” for cash-strapped shoppers, as it reported a 17.5% increase in first-half revenue driven by new store openings. The group, which listed on the Warsaw stock market last May with a valuation of 5 billion …
Discounter Pepco vows to ‘protect prices’ as first-half sales rise Read More »
By Selena Li HONG KONG (Reuters) – Several Russian banks plan to issue payment cards that use the network of China UnionPay as well as that of home-grown payment system Mir, after Visa Inc and MasterCard Inc joined other Western firms in suspending operations in Russia. UnionPay and Mir are among few options left for …
Explainer-China UnionPay, Russia’s potential payments backstop Read More »
A look at the day ahead in markets from Sujata Rao. The ink is barely dry on global growth forecast downgrades from the World Bank and International Monetary Fund, but banks are rushing out their own gloomy assessments. “Prepare for a hard landing,” Deutsche Bank shrilled in a Wednesday report. Flagging the possibility of a …
