BRUSSELS (AP) — Cutting off natural gas to Poland and Bulgaria cost Russian President Vladimir Putin very little — but it is adding stress on European countries wrestling with how to reduce the energy imports feeding the Kremlin’s war chest and how to keep a united front on the war in Ukraine. European Union officials…
NEW YORK (AP) — After years of screaming higher, almost regardless of what the economy was doing, tech-oriented stocks are tanking and dragging down the rest of Wall Street. Many of these high-profile companies are still making billions of dollars in profits, and they continue to dominate the top of the rankings for most valuable…
By Rajesh Kumar Singh and Kannaki Deka (Reuters) -Southwest Airlines Co on Thursday forecast “solid” profit for the current quarter and said quarterly revenue would surpass pre-pandemic levels on surging travel demand, sending its shares higher. The company said it turned a profit in the month of March and expects to be “solidly profitable” this…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Thursday called for a modernization of the U.S. unemployment insurance system, with more effective automatic stabilizers that speed assistance to workers who lose jobs or income when recessions hit. Yellen, in remarks to the Brookings Institution in Washington, said that recent recessions, including the 2020 COVID-19…
(Reuters) – Shares of Meta Platforms Inc rose 17% in a relief rally on Thursday after having lost nearly half their value this year, as the social media giant surprised Wall Street with a better-than-expected rise in users joining the platform. The stock helped lift the tech-heavy Nasdaq in premarket trading, spreading cheer to several…
(Reuters) – Eli Lilly and Co on Thursday posted quarterly results that beat Wall Street estimates and said its experimental obesity drug met the main goal in a late-stage study, sending shares of the drugmaker up 4%. Tirzepatide showed up to 22.5% weight loss in adults with obesity in the study, with the trial also…
LONDON (AP) — Twitter’s quarterly profit, revenue and the number of daily users on its platform are rising but its quarterly report, released days after agreeing to be sold to billionaire Elon Musk, offered scant details about what it expects on the financial front for the rest of the year. The social media company on…
WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell again last week with numbers still at historically low levels. Jobless claims in the U.S. declined by 5,000 to 180,000 for the week ending April 23, the Labor Department reported Thursday. First-time applications generally reflect the number of layoffs. The four-week average for…
WASHINGTON (AP) — The U.S. economy shrank in the first three months of the year, and faces threats from high inflation and rising interest rates, yet economists foresee a return to growth for the rest of 2022 based on the strength of the job market and consumer spending. The first quarterly decline in gross domestic…
(Reuters) -Domino’s Pizza Inc missed quarterly U.S. same-store sales estimates on Thursday and said staffing shortages and unprecedented inflation will haunt it further into the year, sending the fast-food chain’s shares down 5%. U.S. restaurants have in recent months struggled to keep their workers from leaving for higher-paying jobs, with Domino’s even offering consumers a…
