BERLIN (AP) — The German government’s panel of independent economic advisers forecast Wednesday that Europe’s biggest economy will shrink by 0.2% next year. The five-member panel’s report came after official figures late last month showed unexpected growth in the third quarter, thanks to private spending. But a weak winter, with gross domestic product declining in…
BRUSSELS (AP) — The European Union is considering more lenient economic recovery proposals that veer away from the grinding, top-down austerity rules that hit Greece and several other countries during the debt crises a decade ago and helped push millions into poverty, homelessness and unemployment. The European Commission, the EU’s executive arm, said Wednesday that…
(Reuters) – Roblox Corp on Wednesday reported a bigger loss than expected, sending shares down 14% in premarket trading. The company’s revenue grew 2% to $517.7 million in the third quarter ended Sept. 30. Roblox changed the period of estimated paying user life to 28 months from 25 months, resulting in a $111 million decrease…
By Rod Nickel and Arunima Kumar (Reuters) -North American oil and gas pipeline company TC Energy Corp reported an 8% rise in quarterly profit on Wednesday and said it was looking to sell C$5 billion ($3.7 billion) worth of assets to repay debt and fund new projects. Canada, the world’s fourth-largest crude producer, has been…
By Emma-Victoria Farr, Shadia Nasralla and Lucy Raitano LONDON (Reuters) -Ithaca Energy made a lacklustre debut in London on Wednesday as the North Sea oil and gas producer defied volatile markets with Britain’s largest initial public offering of 2022. As Europe’s fifth biggest IPO of the year began trading, Ithaca’s shares fell as much as…
DHAKA,Bangladesh (AP) — The International Monetary Fund reached a preliminary agreement on Wednesday with Bangladesh to provide $4.5 billion to help the country weather disruptions caused by the war in Ukraine and manage risks from climate change. The agreement is subject to approval by the IMF’s executive board, which is expected within weeks. Bangladesh sought…
FRANKFURT, Germany (AP) — Adidas on Wednesday lowered its earnings forecast for the year to account for losses from ending its partnership with the rapper formerly known as Kanye West over his antisemitic remarks. The German shoe and sportswear maker cut its sales and profit outlook for the year as part of its third-quarter earnings…
(Reuters) – Michael Kors-owner Capri Holdings Ltd lowered its annual profit forecast on Wednesday, blaming a hit from a stronger dollar and a slow demand recovery in the key Chinese market due to persistent COVID-19 curbs. The company forecast fiscal 2023 revenue of $5.7 billion, compared with its prior estimate of about $5.85 billion. (Reporting…
ATHENS, Greece (AP) — Workers walked off the job in Greece and Belgium on Wednesday during nationwide strikes against increasing consumer prices, disrupting transportation, forcing flight cancellations and shutting down public services in the latest European protests over the rising cost of living. In Greece, where workers were holding a 24-hour general strike, thousands of…
Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday. The job cuts come just a week after widespread layoffs at Twitter under its new owner, billionaire Elon Musk. There have…
