NEW YORK (AP) — American Express’ profits fell 14% in the second quarter, the company said Friday, as higher expenses more than offset record spending on its network by its cardmembers. AmEx had profit of $1.96 billion, or $2.57 a share, down from $2.28 billion, or $2.80 a share, in the same period a year…
(Reuters) -Twitter Inc on Friday blamed its ongoing battle to close its $44-billion acquisition by Elon Musk and a weakening digital advertising market for a surprise fall in quarterly revenue. The results come as Twitter has sued Musk for dropping his offer to buy the company, and is now preparing for a legal showdown in…
LONDON (AP) — Twitter reported a quarterly loss Friday and declining revenue caught Wall Street off guard with the number of people using the platform on the rise. The latest quarterly earnings figures offered a glimpse into how the social media platform has performed during a months-long negotiation with billionaire and Tesla CEO Elon Musk…
LONDON (Reuters) -Hundreds of British Airways workers at London’s Heathrow airport voted on Friday to call off strike action after accepting a pay offer, the GMB union said. “No one wanted a summer strike at Heathrow, but our members had to fight for what was right. This improved pay deal came because of their efforts,”…
FRANKFURT/HELSINKI (Reuters) -Uniper on Friday received 15 billion euros ($15.2 billion) in guarantees and equity as the German government stepped in to save the gas importer that is the biggest casualty of Europe’s energy crisis so far. The state bail-out caps weeks of intense negotiations between Germany and Finland, which controls Uniper’s majority shareholder Fortum….
BERLIN (AP) — The German government will take a roughly 30% stake in energy supplier Uniper as part of a rescue package prompted by surging prices for natural gas and reduced Russian deliveries, the company and Chancellor Olaf Scholz said Friday. Uniper, which has been Germany’s biggest importer of Russian gas used to fuel industry,…
FRANKFURT (Reuters) -Uniper, Finnish parent Fortum and their governments have agreed in principle on a bailout for the German gas importer hit by high gas prices and dwindling Russian supplies, three sources told Reuters. Germany has been trying to rescue Uniper, which became a high-profile casualty of the economic standoff between the West and Moscow…
By Byungwook Kim and Heekyong Yang SEOUL (Reuters) -South Korean contract workers have tentatively agreed to end their strike at the country’s No.3 shipbuilder in return for a much smaller wage hike than they had demanded, union officials and subcontractors said on Friday. Since late last month, about 100 sub-contractors pressing for an increase of…
By Jesús Aguado and Inti Landauro MADRID (Reuters) -Santander has dropped out of the process to buy Citigroup’s Mexican retail bank after having previously submitted a non-binding offer earlier this year. The euro zone’s second-biggest bank by market value has been expanding in emerging economies in search of faster growth than in its core European…
NEW YORK (AP) — Stocks slipped Friday, giving back some of their gains from earlier in the week as worries brewed about the global economy and prospects for profits at big internet companies. The S&P 500 lost 0.9% to break a three-day rally that had carried Wall Street to its highest level in six weeks….
