By Tina Bellon and Nivedita Balu (Reuters) -Uber Technologies Inc on Thursday said it would report around $5 billion in adjusted profit in 2024 and improve algorithms to keep costs low and win new customers. However, the forecast is below the $5.7 billion analysts expect for 2024, according to Refinitiv data, and the company’s shares…
By Devik Jain, Davide Barbuscia and Chuck Mikolajczak NEW YORK (Reuters) – Investors were bracing for more market volatility after a sharper-than-expected rise in consumer prices ramped up expectations for how aggressively the Federal Reserve will need to move as it fights to tame soaring inflation. The prospect of a more hawkish Fed has been…
WASHINGTON (AP) — Last year, it was a nasty surprise. And it wasn’t supposed to last. But now, inflation has become an ongoing financial strain for millions of Americans filling up at the gas station, lined up at a grocery checkout lane, shopping for clothes, bargaining for a car or paying monthly rent. For the…
By Nichola Saminather TORONTO (Reuters) – Manulife Financial Corp sees the higher inflation and interest rates expected this year as generally positive, and can at least partly offset the former through increased premiums, executives told a post-earnings analyst call on Thursday. A 50-basis-point increase in fixed income yields would also translate into a C$1.85 billion…
(Reuters) – U.S. President Joe Biden said the January consumer price index report issued on Thursday was a reminder that the budgets of Americans are under real strain, adding that his administration was using “every tool” it has to tackle the issue. “We have been using every tool at our disposal, and while today is…
By Lucia Mutikani WASHINGTON (Reuters) -U.S. consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years, fueling financial markets speculation for a 50 basis points interest rate hike from the Federal Reserve next month. The broad increase in prices reported by the Labor Department on Thursday was led…
SACRAMENTO, Calif. (AP) — A lawsuit over high health care bills filed on behalf of more than 3 million employers and people seeks as much as $1.2 billion from a large Northern California health system in an antitrust class-action trial getting underway Thursday. Plaintiffs in the lawsuit allege in court documents that Sutter Health abused…
By Danilo Masoni and Linda Pasquini (Reuters) -Delivery Hero saw almost a third of its market value wiped out on Thursday after 2022 earnings guidance fell short of market expectations and investors stampeded out of another stock previously considered a pandemic-era darling. Pandemic winners and high-flying tech companies, such as exercise bike maker Peloton Interactive…
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…
