By Uday Sampath Kumar and Praveen Paramasivam (Reuters) -The world’s top two cola makers, Coca-Cola and PepsiCo, on Thursday warned of pressure on profits this year from a relentless rise in costs after trouncing sales expectations on robust demand and price increases. Costs from aluminum cans to labor and shipping have surged in the last …
Coca-Cola, PepsiCo warn of inflation bite as higher prices lift sales Read More »
By Sheila Dang (Reuters) – Twitter Inc reported weaker-than-expected quarterly advertising revenue and user growth on Thursday and forecast revenue short of Wall Street targets, indicating that its turnaround plan has yet to bear fruit. Still, the social networking site said it made “meaningful progress” toward its goal of reaching 315 million users and $7.5 …
Twitter misses ad revenue and user growth estimates; revenue forecast light Read More »
NEW YORK (Reuters) – U.S. consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years, which could fuel financial markets speculation for a 50 basis points interest rate hike from the Federal Reserve next month. The consumer price index gained 0.6% last month after increasing 0.6% in December, …
Jan US CPI shows biggest yearly rise in 4 decades Read More »
FRANKFURT (Reuters) – Euro zone inflation will return to trend without significant policy tightening by the European Central Bank as pandemic-related bottlenecks in goods as well as labour are resolved, the ECB’s chief economist Philip Lane said on Thursday. Lane was defending his long-held view that the current, record-high inflation rate in the euro zone …
Euro zone inflation doesn’t require significant policy tightening, ECB’s Lane says Read More »
MOSCOW (Reuters) -Google faces a fine after Russia’s antitrust watchdog said the U.S. tech firm had breached rules related to suspending and blocking accounts on its YouTube video service. Russia’s Federal Antimonopoly Service (FAS) said on Thursday the fine would be determined during an administrative investigation, adding Google’s conduct had infringed users’ interests and restricted …
Google faces fine after Russian watchdog says it broke antitrust law Read More »
By Mathieu Rosemain PARIS (Reuters) – Google Analytics, the world’s most widely used web analytics service developed by Alphabet’s Google, risks giving U.S. intelligence services access to French website users’ data, France’s watchdog CNIL said on Thursday. In a decision targeting an unnamed French website manager, the data privacy regulator — one of the most …
French watchdog says Google Analytics poses data privacy risks Read More »
(Reuters) -Tapestry Inc raised its full-year revenue and profit forecast on Thursday as consumers splurge on luxury handbags and apparel in the United States and Europe, boosting the Kate Spade owner’s shares 3% in premarket trade. Rivals Capri, Ralph Lauren and Europe’s LVMH also benefited from a rebound in demand for high-end fashion as cooped-up …
Kate Spade owner Tapestry lifts annual forecast as luxury demand booms Read More »
By Echo Wang and Michael Berens (Reuters) – A China-based financier, once reprimanded by U.S. regulators and barred from taking his company public, played a bigger role than is publicly known in the shell company that agreed to merge with former President Donald Trump’s new social media venture, Reuters has learned. Little has been disclosed …
How a China-based dealmaker got shell company for Trump’s deal off the ground Read More »
(Reuters) – Coca-Cola Co reported quarterly revenue on Thursday that beat analysts’ estimates, helped by higher prices for its soft drinks and on gradual reopening of theaters and restaurants across the world as pandemic-related curbs ease. Adjusted revenue rose to $9.47 billion in the fourth quarter ended Dec. 31 from $8.60 billion a year earlier. …
By Luc Cohen NEW YORK (Reuters) – A former Goldman Sachs banker charged with helping to embezzle hundreds of millions of dollars from Malaysia’s 1MDB sovereign wealth fund will go on trial in the United States next week, in a case that could shed light on how the bank responded to warnings of corruption. Roger …
Rogue employee or Goldman scapegoat? Ex-banker’s 1MDB corruption trial to kick off Read More »
