(Reuters) -Spotify Technology said currency moves and a big increase in hiring would push it to an operating loss in the second quarter, sending the streaming giant’s shares down 11% on Wednesday despite a forecast-beating rise in first quarter revenue. The company predicted it would make an operating loss of 197 million euros ($208 million)…
By Yuvraj Malik and Eva Mathews (Reuters) – Facebook-owner Meta Platforms Inc is expected to report its slowest quarterly ad revenue growth in a decade on Thursday, as businesses pull back on ad spending against the backdrop of soaring inflation worldwide and the war in Ukraine. Global advertising and marketing budgets will be strained further…
(Adds dropped word ‘permanently’ in final paragraph) By Federica Urso (Reuters) – Companies in North America and Europe plan to give more employees an equity stake in their businesses to help retain talent amid a pandemic-induced “Great Resignation”, a survey showed on Wednesday. Global Equity Organization (GEO), a not-for-profit body tracking global share plans and…
Russia’s Gazprom says it is halting natural gas supplies to Poland and Bulgaria, escalating tensions between the Kremlin and Europe over energy and Russia’s invasion of Ukraine — and adding new urgency to plans to reduce and then end the continent’s dependence on Russia as a supplier of oil and gas. Here are key things…
MILAN (Reuters) – Generali shareholders will vote to select a chief executive and board of directors on April 29. Philippe Donnet, who has been CEO at Europe’s third-largest insurer since 2016, is running for reappointment with the backing of Generali’s outgoing board and its leading shareholder Mediobanca. Donnet’s candidacy is opposed by Italian tycoon Francesco…
Boeing said Wednesday that it lost $1.2 billion in the first quarter as it and took large write-downs and lost money in both its civilian-airplane and defense businesses. The loss was bigger than Wall Street had forecast, and the company’s quarterly revenue also fell short of expectations. Boeing burned through $3.2 billion in cash. “Messier…
By Pushkala Aripaka and Natalie Grover (Reuters) – GSK beat first-quarter sales and earnings forecasts on Wednesday, helped by demand for its COVID-19 therapy and shingles vaccine, as the drugmaker moves towards the July separation of its consumer health business. Shares of the British company, which also reiterated its 2022 financial forecasts, were up about…
(Reuters) – Gulfstream jet maker General Dynamics Corp on Wednesday posted a 3.1% rise in first-quarter profit, as demand for private air travel during the COVID-19 pandemic remained high. Cautious passengers who opted for private flights instead of commercial flights due to fears of contracting COVID-19 have helped drive U.S. private air traffic higher than…
LONDON (AP) — A hands-off approach to moderating content at Elon Musk’s Twitter could clash with ambitious new laws in Europe meant to protect users from disinformation, hate speech and other harmful material. Musk, who describes himself as a “free speech absolutist,” pledged to buy Twitter for $44 billion this week, with European Union officials…
By Shadia Nasralla (Reuters) – Oil was broadly steady on Wednesday after Russia cut gas supplies to Bulgaria and Poland, while lingering concerns about Asian coronavirus lockdowns weighing on economic growth and oil demand kept a lid on prices. Having dipped into negative territory, Brent crude futures rose 53 cents, or 0.5%, to $105.52 a…
