(Reuters) – Snap Inc is in early stages of planning layoffs, the Verge reported on Monday, citing people familiar with the plans. The scope of the job cuts is currently unclear as managers are still planning it for their teams, the report said, adding that the Snapchat-owner has more than 6,000 employees. (https://bit.ly/3QaAmql) Snap declined…
By Neil Jerome Morales and Karen Lema MANILA (Reuters) -The Philippine economy expanded less than expected in the second quarter, but at pace still in line with the official 2022 growth target, giving the central bank leeway to further tighten monetary policy to curb red-hot inflation. The Southeast Asian country’s gross domestic product was 7.4%…
By Wayne Cole SYDNEY (Reuters) – A measure of Australian business confidence rebounded in July as sales and profits held up surprisingly well in the face of rising interest rates and high inflation, though firms also reported record costs amid supply constraints. Tuesday’s survey from National Australia Bank Ltd (NAB) showed its index of business…
DALLAS (AP) — A Southwest Airlines flight attendant suffered a compression fracture to a vertebra in her upper back during a hard landing last month in California, according to federal safety investigators. The National Transportation Safety Board said the impact of landing was so hard that the flight attendant thought the plane had crashed. She…
BOGOTA, Colombia (AP) — Colombia’s first leftist president presented an ambitious tax plan on Monday that aims to raise up to $11 billion a year for anti-poverty programs. Gustavo Petro was sworn into office on Sunday, and has promised to fight economic inequality while investing in rural areas that have long been haunted by drug-related…
By Jonathan Stempel August 8 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc bought more shares of Occidental Petroleum Corp, surpassing the 20% stake where it could record some of the oil company’s earnings with its own and potentially add billions of dollars of profit. In a regulatory filing on Monday night, Berkshire said it paid…
(Reuters) -National Australia Bank Ltd on Tuesday posted an almost 6% rise in third-quarter cash profit as it benefited from an increase in home and business loans as well as higher interest rates. Runaway inflation has prompted the Reserve Bank of Australia to tighten monetary policy this year, aiding the margins of banks that had…
(Reuters) -Insurer American International Group Inc beat market estimates for quarterly profit on Monday as a jump in underwriting income cushioned the blow from lower investment returns. Net premiums written in the company’s general insurance business rose 5% on a constant currency basis in the April-June quarter to $6.9 billion, while underwriting income climbed 73%….
By Fergal Smith (Reuters) – Canada’s main stock index rose on Monday for a fourth straight day as Barrick Gold Corp reported better-than-expected quarterly earnings and oil prices rebounded, while investors grew optimistic that interest rates are nearing a peak. The Toronto Stock Exchange’s S&P/TSX composite index ended 49.04 points, or 0.25%, higher at 19,669.17,…
By Joey Roulette WASHINGTON (Reuters) -Northrop Grumman is partnering with rocket startup Firefly Aerospace to build a new version of its workhorse Antares rocket without Russian-made engines that were cut off from the United States after the invasion of Ukraine, the company said on Monday. The new version of Antares, a rocket which NASA uses…
