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…
WASHINGTON (AP) — The number of Americans applying for unemployment benefits declined for the third straight week. Jobless claims fell by 16,000 to 223,000 last week, from 239,000 the previous week, the Labor Department reported Thursday. The four-week average for claims, which compensates for weekly volatility, declined by 2,000 to 253,250 after rising for five…
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…
DETROIT (AP) — Tesla is recalling nearly 579,000 vehicles in the U.S. because a “Boombox” function can play sounds over an external speaker and obscure audible warnings for pedestrians. It is the fourth Tesla recall made public in the last two weeks as U.S. safety regulators increase scrutiny of the nation’s largest electric vehicle maker….
By Anshuman Daga SINGAPORE (Reuters) -Activist investor Quarz Capital Management said it is opposed to the terms of a proposed S$4.2 billion ($3.1 billion) merger of two Temasek-linked Singapore real estate investment trusts, saying the target firm was significantly undervalued. It is urging Mapletree North Asia Commercial Trust (MNACT) to negotiate an improved offer from…
Coca-Cola and posted better-than-expected sales in the fourth quarter as the omicron variant barely registered and venues like coffee shops and movie theaters continued to reopen around Revenue rose 10% to $9.5 billion in the October-December period. That beat Wall Street’s forecast of $8.98 billion, according to analysts polled by FactSet. The World Heath Organization…
SAN FRANCISCO (AP) — Twitter’s shares jumped in early trading Thursday after it posted strong revenue growth last year and announced a $4 billion share buyback program. That’s despite losing money in 2021 and falling short of Wall Street expectations for user growth in the last three months of the year. Revenue increased 37%, to…
By Brenna Hughes Neghaiwi ZURICH (Reuters) -Credit Suisse on Thursday capped a scandal-ridden year with a $2.2 billion quarterly loss and said 2022 earnings would be weighed down by restructuring and compensation costs. Though Switzerland’s second-biggest bank had flagged a large fourth-quarter loss, it was still steeper than expected. Analysts pointed to slides in revenue…
(Reuters) -Canadian business jet maker Bombardier Inc reported an adjusted quarterly profit on Thursday, helped by higher aircraft margins and cost reduction efforts. Bombardier’s business jet revenue decreased 24% to $1.87 billion on fewer deliveries of aircraft. However, Bombardier expects revenues to rise more than $6.5 billion in 2022 as higher-priced corporate planes account for…
LONDON (AP) — British Prime Minister Boris Johnson couldn’t escape his domestic woes during a trip to Belgium and Poland on Thursday aimed at increasing pressure on Russia over its military buildup near Ukraine. Johnson was trying to show NATO’s resolve in response to Russia massing troops near its neighbor’s borders. But he faced questions…
