Reuters US Business

By Valentine Hilaire MEXICO CITY (Reuters) -A Mexican entrepreneur close to President Andres Manuel Lopez Obrador told Reuters that he has begun hiring financial advisers and law firms to prepare a bid for Citibanamex, Citigroup’s Mexican consumer banking arm. Javier Garza, founder of a business group which supports Lopez Obrador’s left-leaning administration, also said in …

Exclusive-Mexican entrepreneur says hiring advisers for Citibanamex bid Read More »

(Reuters) -Activision Blizzard Inc, which is being acquired by Microsoft Corp for $68.7 billion, missed market estimates for fourth-quarter adjusted sales on Thursday, as the pandemic-fueled sales boost for its games such as “Call of Duty” showed signs of cooling. Videogame sales in the United States surged since the start of the pandemic, as people …

Activision misses quarterly adjusted sales estimates on subdued demand Read More »

By Jeffrey Dastin and Nivedita Balu (Reuters) – Amazon.com Inc on Thursday said it was raising the price of its annual U.S. Prime subscriptions by 17%, as it looks to offset higher costs for shipping and wages that it expects to persist this year. Shares rose as much as 17% in extended trade as Amazon …

Amazon hikes Prime membership fees in U.S. as wages, costs rise Read More »

By Daina Beth Solomon MEXICO CITY (Reuters) – An upstart union supported by international activists on Thursday won an election to represent General Motors workers in central Mexico, opening the door to the prospect of bigger pay rises, inspired by U.S.-backed labor reform. The election was one of the first under the new Mexican law, …

‘Fed up’ GM workers in Mexico pick new union in historic vote Read More »

(Reuters) -Pinterest Inc delivered its first annual net income on Thursday as strong advertising revenue drove its fourth-quarter results past Wall Street expectations and softened the blow from a shrinking user base. The image-sharing firm’s shares surged up to 20% in extended trading, bouncing back from a dismal Thursday session in which tech stocks were …

Pinterest results dazzle Wall St as ad business booms Read More »

By Danilo Masoni, Akash Sriram and Noel Randewich (Reuters) – Shares of Facebook owner Meta plummeted 26% on Thursday, the biggest single-day slide in market value for a U.S. company, after the social media giant issued a dismal forecast, blaming Apple Inc’s privacy changes and increased competition. The huge drop, erasing over $200 billion from …

Meta’s share price wipe-out shakes world tech stocks Read More »