By Lucy Raitano LONDON (Reuters) – Mining and oil firms led an 11% jump in dividend payouts to a first-quarter record of $302.5 billion, according to a closely-watched global report, though it warned companies face a growing number of challenges in the months ahead. The war in Ukraine, geopolitical tensions, high energy and commodity prices,…
DETROIT (AP) — Automaker Stellantis has scheduled an announcement for Tuesday in Kokomo, Indiana, for what could be the company’s second North American electric vehicle battery factory. The company said it will give an update on the future of its Kokomo operations at an Indiana community college on Tuesday afternoon. Stellantis, formed last year with…
(Reuters) – Kansas City Federal Reserve Bank President Esther George on Monday said she expects the U.S. central bank to lift its target interest rate to about 2% by August, with further action dependent on how both supply and demand are affecting inflation. “Fed policymakers have emphasized a commitment to act expeditiously to restore price…
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…
