By Sheila Dang (Reuters) -Snap Inc said the economy had worsened faster than expected in the last month and the social media company slashed its quarterly forecast, triggering an after-hours sell-off. Since late April, “the macroeconomic environment has deteriorated further and faster than anticipated. As a result, we believe it is likely that we will…
(Reuters) – Russia’s biggest mobile operator MTS said on Tuesday it has started selling discounted and used smartphones, offering Russian consumers cheaper alternatives as inflation bites and Western brands suspend shipments. Apple paused all product sales in Russia in early March, one of many Western companies to distance itself from Moscow since it sent tens…
DAVOS, Switzerland (AP) — Billionaire investor turned philanthropist George Soros has blamed new technology for helping repressive regimes like Russia and China exert greater control. Speaking Tuesday at a dinner for journalists on the sidelines of the World Economic Forum’s annual gathering in Davos, Switzerland, Soros said China and Russia were the greatest threats to…
(Reuters) – The Russian rouble strengthened to levels not seen since March 2018 against the dollar on Tuesday, boosted by export-focused companies selling foreign currency to pay taxes and shrugging off a slight easing of capital controls. The rouble has firmed about 30% against the dollar this year despite a full-scale economic crisis in Russia,…
By Saikat Chatterjee LONDON (Reuters) – The dollar hit a fresh one-month low on Tuesday as the euro extended gains while a broad selloff in stock markets failed to boost the U.S. currency’s safe haven appeal. Against a basket of its rivals, the dollar fell 0.3% to 101.79, its lowest level since April 26. The…
By Jeffrey Dastin and Dmitry Zhdannikov DAVOS, Switzerland (Reuters) -Palantir Technologies Inc and global commodities trader Trafigura have set sights on a new market, their chief executives told Reuters on Monday: tracking carbon emissions for the oil, gas, refined metals and concentrates sector. The companies are building a platform for oil majors and other commodities…
LONDON (Reuters) – Barclays has fired the starting gun on a 1 billion pound share buy-back programme aimed at reducing its share capital after refiling accounts with U.S. authorities on Monday. The British lender was forced to resubmit its 20-F accounts after it discovered in March it had sold more than $15 billion of complex…
By Yuka Obayashi and Isabel Kua SINGAPORE (Reuters) -Oil prices fell by more than $1 on Tuesday as concerns over a possible recession and China’s COVID-19 curbs outweighed an expectation of tight global supply and a pick-up in fuel demand with the U.S. summer driving season. Brent crude futures for July fell $1.34, or 1.2%,…
NEW YORK (AP) — Stocks fell in morning trading on Wall Street Tuesday, weighed down by a big decline in tech heavyweights over concerns about persistently rising inflation’s impact to their bottom lines. The S&P 500 index fell 2.1% as of 10:14 a.m. Eastern. The Dow Jones Industrial Average fell 351 points, or 1.1%, to…
By Wayne Cole SYDNEY (Reuters) – Asian shares slid on Tuesday as relief at a rally on Wall Street was punctured by a retreat in U.S. stock futures, while the euro held near one-month highs as odds narrowed on a July rate rise from the ECB. After ending Monday firmer, Nasdaq futures lost 1.5%, with…
