LONDON (Reuters) – Pandemic market darlings Netflix and Peloton each saw about a fifth of their market value wiped out on Thursday after both said business was slowing, a sign, say analysts, of growing market jitters about the business prospects of such companies. Peloton shares plunged 24% on Thursday wiping off nearly $2.5 billion in…
By Iain Withers LONDON (Reuters) – The dollar was on track for its best week in a month against major rivals on Friday, as the world’s reserve currency held its ground amid a selloff of riskier assets across markets. Investor sentiment has soured in recent days due to weaker economic data, rampant inflation and concerns…
PARIS (AP) — Total Energies and Chevron, two of the world’s largest energy companies, said Friday they were exiting Myanmar, citing rampant human rights abuses and deteriorating rule of law since the country’s military overthrew the elected government in February. The announcement came just a day after the French company called for international sanctions targeting…
PARIS (Reuters) -French energy group TotalEnergies said on Friday it had decided to withdraw from Myanmar because of the worsening human rights situation there, becoming the latest Western company to pull out following a coup there last year. “The situation, in terms of human rights and more generally the rule of law, which have kept…
LONDON (Reuters) – Investors pumped money into stocks and siphoned funds out of bonds and cash as global markets braced for higher interest rates, BofA’s weekly flow show report showed on Friday. In the first 13 trading days of the year compared to the same period last year, equity funds have seen $52 billion of…
LONDON (Reuters) -British retail sales slumped in December after consumers did much of their Christmas shopping earlier than usual in November and many consumers stayed at home due to the spread of the Omicron coronavirus variant. Sales volumes fell by 3.7% from November, a far bigger hit than the 0.6% decline forecast in a Reuters…
Stocks wobbled between gains and losses on Wall Street Friday as major indexes head for another weekly loss. The S&P 500 fell 0.9% as of 1:34 p.m. Eastern. The benchmark index is on track for its third straight weekly loss and its worst weekly loss since October 2020. The Dow Jones Industrial Average fell 167…
By Andrius Sytas and John O’Donnell VILNIUS/FRANKFURT (Reuters) – Lithuania is under pressure from German companies to back down in a dispute with China to end a blockade of the Baltic state, as European trade officials struggle to defuse the row, people familiar with the matter said. China has pressed multinationals to sever ties with…
SYDNEY (Reuters) -Qantas Airways Ltd will cut domestic capacity by 10 more percentage points, to 60% of pre-pandemic levels, in the March quarter after the state of Western Australia indefinitely delayed opening its border, the carrier said on Friday. The opening planned for Feb. 5, was cancelled https://www.reuters.com/world/western-australia-state-stay-shut-omicron-stalks-east-2022-01-20 late on Thursday, with authorities in Western…
SHANGHAI (Reuters) – China must prevent and defuse the risk of external shocks this year while strengthening macro-prudential management and guiding market expectations, the country’s foreign exchange regulator said on Friday. The comments come as the U.S. Federal Reserve is widely expected to start hiking interest rates as early as March, while its Chinese counterpart…
