Bed Bath & Beyond was unable to overcome supply issues during the final quarter of the year that have tripped up the home goods chain for months and it warned Wednesday that those problems are carrying over into the new year. It also reported a surprise loss in a quarter when many other retailers booked…
By Rajesh Kumar Singh CHICAGO (Reuters) -Delta Air Lines Inc on Wednesday posted a smaller-than-expected quarterly loss and forecast returning to profit in the current quarter on the back of a booming travel demand, sending its shares higher. The company said robust consumer demand not only helped it post a “solid” profit in the month…
(Reuters) – Facebook parent Meta Platforms will charge creators around 47.5% on sales of digital assets and experiences made inside the company’s virtual reality platform Horizon Worlds. The overall charge comprises of 30% hardware platform fee for sales made through Meta Quest Store, where it sells apps and games meant for its virtual reality headsets,…
LOS ANGELES (AP) — Shortly after moving to South Florida for a new job with the U.S. military, Shannon Kaufman and his wife, Wendy, signed up for a whole other mission: buying a home. For months, they scoured listings, strategizing late into the night on which homes to target and working out how much they…
WASHINGTON (AP) — The surging cost of energy pushed wholesale prices up a record 11.2% last month from a year earlier — another sign that inflationary pressure is widespread in the U.S. economy. The Labor Department said Wednesday that its producer price index — which measures inflation before it reaches consumers — climbed at the…
By Bansari Mayur Kamdar and Praveen Paramasivam (Reuters) -The S&P 500 and the Dow were set for a subdued open on Monday as JPMorgan shares dropped after reporting a slump in quarterly profit, while fresh data highlighted growing inflationary pressures. The largest U.S. bank by assets JPMorgan Chase & Co was down 3% in premarket…
WASHINGTON (Reuters) – U.S. producer prices increased more than expected in March amid a surge in demand for services, suggesting inflation could remain high for a while. The producer price index for final demand increased 1.4% after rising 0.9% in February, the Labor Department said on Wednesday. In the 12 months through March, the PPI…
LONDON (Reuters) – U.S. private equity firm General Atlantic on Wednesday named Lance Uggla, former boss of data company IHS Markit, as chief executive of its climate-focused venture BeyondNetZero. Uggla founded Markit and helped lead a merger with IHS in 2016. He most recently served as CEO and chairman of IHS Markit, which S&P Global…
NEW YORK (AP) — JPMorgan Chase said its first quarter profits dropped by 42% from last year, partly because the bank wrote down nearly $1.5 billion in assets due to higher inflation and Russia’s war in Ukraine. The nation’s largest bank by assets said it earned a profit of $8.3 billion, or $2.63 per share,…
By Saikat Chatterjee LONDON (Reuters) – The Japanese yen weakened past the 126 yen per dollar mark on Wednesday for the first time since 2002, while the euro was pinned at a one-month low as investors bought the U.S. currency after hawkish comments by Federal Reserve officials. The prospect of fast and aggressive U.S. interest…
