(Reuters) – India’s One 97 Communications Ltd, the parent of fintech firm Paytm, on Friday reported a wider fourth-quarter loss due to higher expenses related to payment processing, marketing and employee benefits. The company had said in April it expected to be operationally profitable by September 2023, though analysts have raised concerns over its business…
KYIV, Ukraine — President Volodymyr Zelenskyy devoted his nightly video address to Ukraine’s demand that Russia be held financially responsible for the damage its forces are inflicting on Ukraine. Just on Friday, he noted, the Russian army fired a missile at the northeastern Kharkiv region, destroying a cultural center in Lozova, and also hit the…
RIO DE JANEIRO (AP) — Tesla and SpaceX chief executive officer Elon Musk met with Brazil’s President Jair Bolsonaro on Friday to discuss connectivity and other projects in the Amazon rainforest. The meeting, held in a luxurious resort in Sao Paulo state, was organized by Communications Minister Fábio Faria, who has said he is seeking…
By Amruta Khandekar and Devik Jain (Reuters) – The benchmark S&P 500 index is trading down 20% from its Jan. 3 record close in volatile trading on Friday, as investors fretted over the impact of rising inflation on earnings and the fallout of interest rate hikes on economic growth. A close of 20% or more…
RIO DE JANEIRO (AP) — Some of the world’s biggest mining companies have withdrawn requests to research and extract minerals on Indigenous land in Brazil’s Amazon rainforest, and have repudiated Brazilian President Jair Bolsonaro’s efforts to legalize mining activity in the areas. The Brazilian Mining Association (Ibram), which represents around 130 companies, conducted an internal…
(Reuters) -McDonald’s Corp franchisees in Russia will have the option of working under a new brand that will launch imminently, the TASS news agency quoted Oleg Paroev, McDonald’s Russia’s general director, as saying on Friday. “There will be a new brand and we will offer our current franchisees to join the new system on new…
(Reuters) – The benchmark S&P 500 was down 20% from its Jan. 4 intraday record peak on Friday as investors sold stocks amid worries about whether the Federal Reserve will be able to effectively combat inflation without causing a recession. A close of more than 20% below the all-time closing high of Jan. 3 would…
MILAN (AP) — Netflix has agreed to pay more than 55.8 million euros ($59 million) to settle a tax dispute, Milan prosecutors said Friday. The payment covers taxes, penalties and interest from October 2015 through 2019. The streaming service also established an Italian legal entity this year, which will determine its Italian tax burden based…
(Reuters) – McDonald’s Corp is selling its restaurants in Russia to one of its current local licensees, who will reopen the branches under a new name yet to be decided – the most high-profile rebranding so far of companies extricating themselves from Russia. Scores of Western brands have said they intend to exit the market,…
BANGKOK (AP) — With world economies all suffering from more than two years of the coronavirus pandemic and global supply problems exacerbated by Russia’s invasion of Ukraine, the United States has an “incredible opportunity” to engage with other nations on a common playing field and forge new partnerships and agreements, the top U.S. trade negotiator…
