(Reuters) – Kroger Co raised its expectations for 2022 profit on Thursday, betting on steady demand for its groceries and household essentials in an inflationary environment. Major U.S. retailers including Walmart Inc and Target Corp have in recent weeks sounded alarm bells over the toll decades-high inflation is taking on U.S. shoppers, stoking fears the…
(Reuters) -Activision Blizzard Inc’s board and external advisers said on Thursday there was no evidence to suggest that senior executives intentionally ignored or attempted to downplay reported instances of gender harassment. There were some substantiated instances of gender harassment, the independent directors of the company’s board said https://bit.ly/3HtI8Yz in a filing. But these instances did…
By Andy Bruce and William Schomberg LONDON (Reuters) – The Bank of England raised interest rates by a further quarter of a percentage point on Thursday but said it was ready to act “forcefully” to stamp out dangers posed by an inflation rate heading above 11%. A day after the U.S. Federal Reserve raised rates…
BRUSSELS (Reuters) – Meta, Alphabet unit Google, Twitter and Microsoft on Thursday agreed to take a tougher line against disinformation including deep fakes and fake accounts under an updated EU code of practice or face hefty fines. More than 30 signatories including advertising bodies have signed up to the updated Code of Practice on disinformation,…
BRUSSELS (AP) — A contest to lead Europe’s financial rescue fund is drawing to a close with the spotlight on three candidates. But a question that has hung over the monthslong race looks certain to persist: Will the winner have enough to do despite fresh economic shocks? Finance ministers from the 19 countries that share…
ST. PETERSBURG, Russia (AP) — The head of the Russian Central Bank warned Thursday that the country’s economy faces pressure from abroad that could persist indefinitely, dampening hopes that conditions could return to what they were before Russia sent troops into Ukraine. “It seems to me that it’s obvious to everyone that it won’t be…
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell has pledged to do whatever it takes to curb inflation, now raging at a four-decade high and defying the Fed’s efforts so far to tame it. Increasingly, it seems, doing so might require the one painful thing the Fed has sought to avoid: A recession. A worse-than-expected…
By Mathieu Rosemain PARIS (Reuters) – France’s anti-trust watchdog body said on Thursday that it had approved commitments made by Facebook owner Meta Platforms regarding the French online advertising sector. Meta has committed to giving access over a five-year period to advertising inventories and campaign data to so-called advertising technology companies on transparent, objective and…
By Giulio Piovaccari and Nick Carey MARANELLO, Italy (Reuters) – Electric and hybrid models should make up 80% of Ferrari’s sales by 2030, the luxury carmaker told investors on Thursday, vowing to produce “even more unique” cars as it makes the expensive shift to zero-emission models. “We believe we can use the electric engine to…
LONDON (AP) — The Bank of England raised interest rates by a quarter-percentage point Thursday, shrugging off pressure for a bolder move to combat price increases that have pushed inflation to a 40-year high. The bank’s monetary policy committee voted 6-3 to boost its key rate to 1.25%, with the dissenters supporting a larger half-point…
