DALLAS (AP) — Travelers got some welcome news in Wednesday’s inflation report from the government: Airfares are coming down, and at a faster clip. The price of the average airline ticket dropped 7.8% in July, to $311, after a 1.8% dip in June, the government said Wednesday. Lower prices for gasoline and travel were big…
SAO PAULO (Reuters) -Brazilian state-controlled lender Banco do Brasil SA on Wednesday increased its 2022 results forecasts after delivering better-than-expected second quarter earnings, boosted by higher net interest income and cost control measures. The company said in a securities filing it now expects full-year adjusted net profit to reach between 27 billion reais and 30…
By Jody Godoy WASHINGTON (Reuters) – Two former JPMorgan Chase & Co employees were found guilty on some charges in a landmark trial over futures market manipulation on Wednesday, while a third former trader was acquitted entirely, a spokesperson for the Department of Justice said. The bank’s former global precious metals desk head Michael Nowak,…
NEW DELHI (AP) — Last month, a cybersecurity startup told a major Indian online insurance brokerage it had found critical vulnerabilities in the company’s internet-facing network that could expose sensitive personal and financial data from at least 11 million customers to malicious hackers. The startup followed the standard ethical-hacker playbook, giving Policybazaar, the insurance aggregator,…
WASHINGTON (AP) — Consumers struggling with skyrocketing prices for food, gas, autos and rent got a tantalizing hint of relief last month, when prices didn’t budge at all from June after 25 straight months of increases. With gas prices continuing to fall, inflation is probably slowing further this month. So has the worst bout of…
By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) -Walt Disney Co edged past Netflix Inc with a total of 221 million streaming subscribers at the end of the most recent quarter and announced it will launch a Disney+ option with advertising this December. Disney+ with ads will cost $7.99 per month, the same price…
By Saqib Iqbal Ahmed and Davide Barbuscia NEW YORK (Reuters) – Softer than expected U.S. inflation data buoyed investors’ faith that twin rebounds in stocks and bonds will persist in a year of deep losses for both asset classes. Bear markets in both have maximized losses in portfolios this year as rate hikes from the…
By Nichola Groom, Cole Horton and Simon Jessop LOS ANGELES/NEW YORK (Reuters) – For the first time, investors seeking to pour cash into U.S. clean energy projects can count on at least a decade of generous federal subsidies, offering them long-sought confidence in the staying power of the world’s third biggest renewables market. Tax credits…
(Reuters) -Global commodities trader Cargill Inc on Tuesday reported that its fiscal year 2022 revenue jumped 23% from a year earlier to a record $165 billion. The strong result was the latest for a global agricultural commodities trader after rivals Archer-Daniels-Midland Co and Bunge Ltd reported solid earnings last month amid high farm products prices…
By Bhargav Acharya (Reuters) – African e-commerce firm Jumia Technologies said on Wednesday it was past peak losses and would focus on promotions, marketing and cost cutting in its quest towards profitability, driving its shares up 16% despite a wider quarterly loss. Jumia is an online marketplace for vendors and food sellers, with associated services…
