NEW YORK (AP) — General Mills and Audi are the latest big advertisers to pause ads on Twitter as questions swirl about how the social media platform will operate under new owner Elon Musk. Spokesperson Kelsey Roemhildt on Thursday confirmed the move by the Minneapolis-based maker of food brands such as Cheerios and Annie’s macaroni…
DoorDash defied an overall slowdown in U.S. restaurant delivery in the third quarter, saying its orders jumped 27% as it expanded overseas and added new grocery and retail offerings. The San Francisco-based delivery company reported 439 million orders in the July-September period. That was higher than the 433 million Wall Street forecast, according to analysts…
By Jamie Freed SYDNEY (Reuters) – Qantas Airways Ltd’s CEO succession planning is in good shape even though long-serving boss Alan Joyce is expected to stay until at least the end of 2023, the airline’s chairman said on Friday. “The board looks at succession each year at almost every meeting, but specifically twice a year,”…
(Reuters) – Washington’s King County court has granted a nationwide temporary restraining order, blocking grocery chain Albertsons Companies Inc’s $4 billion dividend payment, State Attorney General Bob Ferguson tweeted on Thursday. “We’ll be back in court Nov. 10 seeking an injunction to keep the dividend on hold while our lawsuit continues,” Ferguson said in a…
SYDNEY (Reuters) – Australia’s central bank on Friday downgraded the outlook for economic growth, warning that more rate hikes will be necessary to bring down sky-high inflation even as it strives to avoid an outright recession. In its quarterly Statement on Monetary Policy, the Reserve Bank of Australia (RBA) raised its forecasts for inflation as…
By Sheila Dang, Paresh Dave and Katie Paul (Reuters) -Elon Musk has directed Twitter Inc’s teams to find up to $1 billion in annual infrastructure cost savings, according to two sources familiar with the matter and an internal Slack message reviewed by Reuters, raising concerns that Twitter could go down during high-traffic events like the…
By Hannah Lang (Reuters) -Block Inc posted a rise in third-quarter revenue on Thursday as the growth of Cash App helped make up for stagnant cryptocurrency prices that had dogged the payments platform led by Twitter founder Jack Dorsey in previous quarters. Shares of Block, formerly called Square, rose more than 14% in extended trading…
By Ruhi Soni (Reuters) -Agricultural chemical and seed company Corteva Inc on Thursday posted a smaller-than-expected third-quarter adjusted loss as farmers looked to maximize yields at a time of low global grain supplies. Operating loss was 12 cents per share in the July-September quarter, from 14 cents per share a year earlier. Analysts on average…
By Kannaki Deka (Reuters) -Peloton Interactive Inc on Thursday forecast holiday-quarter revenue below estimates and the fitness equipment maker warned that a challenging macro-economic environment could affect its goal of stopping cash burn this fiscal year. The company’s shares, which fell as much as 16.1%, were down 3.5% at $8.32. Peloton’s goal of achieving breakeven…
By Davide Barbuscia NEW YORK (Reuters) – Global investors will ramp up allocations to distressed credit hedge funds next year, expecting opportunities to buy companies’ debt on the cheap as tighter monetary policy from the Federal Reserve and other central banks weighs on growth, according to a BNP Paribas survey. Allocations to hedge funds focused…
