By Stephen Culp NEW YORK (Reuters) – U.S. stocks ended higher on Monday as gains from banks and a rebound in market-leading tech shares supported a broad-based rally following Wall Street’s longest streak of weekly declines since the dotcom bust more than 20 years ago. All three major U.S. stock indexes advanced between 1.6% and…
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Monday said the U.S. economy has a lot of momentum, and said the central bank can raise interest rates to where they are no longer stimulating economic growth without starting a recession. “We really have a strong economy,” Daly said in an interview on…
WASHINGTON (AP) — The District of Columbia on Monday sued Meta chief Mark Zuckerberg, seeking to hold him personally liable for the Cambridge Analytica scandal, a privacy breach of millions of Facebook users’ personal data that became a major corporate and political scandal. D.C. Attorney General Karl Racine filed the civil lawsuit against Zuckerberg in…
(Reuters) -Zoom Video Communications Inc raised its full-year adjusted profit forecast on Monday, betting on robust demand from large businesses in a hybrid work environment, sending shares of the company up 15% in extended trading. Revenue from Zoom’s high-paying enterprise customers jumped 31% in the first quarter, representing 52% of its total revenue, the company…
CHICAGO (Reuters) -Spirit Airlines Chief Executive Ted Christie said on Monday it is unlikely shareholders would vote against its proposed merger with Frontier Group Holdings Inc. The Florida-based ultra-low-cost carrier is facing a hostile takeover bid by JetBlue Airlines. The company has urged its shareholders to reject JetBlue’s offer and back its deal with Frontier….
BUENOS AIRES (Reuters) – A senior official in Argentina charged with leading government efforts to tame sky-high inflation resigned on Monday due to differences over how to contain steadily creeping prices, which have hobbled the country’s economy. Annual inflation in the South American nation reached 58% in April, as many food and energy prices surged…
SAN FRANCISCO (AP) — A major New York pension fund that has invested in both Facebook’s corporate parent and Twitter believes it’s time to shake up the companies’ boards of directors because of their inability to keep violent content off their influential social media services. The New York State Common Retirement Fund outlined its grievances…
By Greg Roumeliotis and Supantha Mukherjee NEW YORK/STOCKHOLM (Reuters) -Broadcom Inc is in talks to acquire cloud service provider VMware Inc in a $60 billion deal which would further diversify the chip manufacturer’s business into enterprise software, people familiar with the matter said. Broadcom is in discussions to pay about $140 per share in cash…
(Reuters) – Zoom Video Communications Inc on Monday reported its slowest quarterly revenue growth since the company went public, as demand for its video-conferencing tools eased as people returned to work. The company said revenue rose 12% to $1.07 billion in the first quarter ended April 30, in-line with Wall Street estimates, according to Refinitiv…
RIO DE JANEIRO (AP) — Brazil’s far-right President Jair Bolsonaro has signed a decree that he says will create a national carbon market to reduce greenhouse gas emissions. Brazil ranks sixth in the world for climate pollution, according to Climate Watch . “In this still new green economy market, Brazil emerges as a powerhouse,” Bolsonaro…
