By Matt Scuffham NEW YORK (Reuters) – Goldman Sachs will on Thursday update its main financial targets and detail growth plans for the next three to five years, hoping to win over investors yet to be convinced by its long-term strategy. Wall Street’s premier investment bank is reshaping itself after a turbulent decade during which…
DoorDash on Wednesday posted better-than-expected sales for its fourth quarter thanks to its growing active-user base and new offerings like deliveries from groceries and pet stores. The San Francisco-based delivery company said its revenue grew 34% to $1.3 billion in the October-December period. That topped Wall Street’s forecast of $1.28 billion, according to analysts polled…
By Jonathan Stempel (Reuters) – Charlie Munger, the longtime business partner of Warren Buffett, on Wednesday said it is “massively stupid” for tensions to escalate between the United States and China, and separately said cryptocurrency should have been banned, calling it “beneath contempt.” Munger, 98, spoke while fielding nearly two hours of questions at the…
By Herbert Lash NEW YORK (Reuters) -Oil and gold rose on Wednesday after NATO and the United States said Russia was increasing its troop build-up near Ukraine, while a dovish reading of minutes from the last Federal Reserve meeting helped stocks close mostly flat on Wall Street. Stronger-than-expected U.S. retail sales data and higher inflation…
By Elizabeth Culliford (Reuters) – Meta Platforms Inc CEO Mark Zuckerberg said in a Facebook post on Wednesday that he had promoted policy chief Nick Clegg into a larger role to lead on all policy matters, signaling less involvement from Zuckerberg in the area. “We need a senior leader at the level of myself (for…
WASHINGTON (AP) — Federal Reserve policymakers concluded last month that they would accelerate their tightening of credit if inflation failed to slow in the coming months. Most officials agreed that faster interest rate hikes would be needed “if inflation does not move down” as the Fed’s policymaking committee expects, according to the minutes of the…
By Jeffrey Dastin and Julia Love (Reuters) – The U.S. National Labor Relations Board said Wednesday that Amazon.com Inc and a group of New York workers have agreed tentatively on terms for a union election, and an organizer said the vote would take place late next month. The agreement lays out the election’s timing and…
By Eva Mathews and Tiyashi Datta (Reuters) – Shares of ViacomCBS Inc, rebranded as Paramount Global, plunged 21% on Wednesday to their lowest in over a year, after the media company’s earnings miss and its move to ramp up investments in streaming raised questions over its ability to stay profitable. The company was a late…
By Dominique Vidalon PARIS (Reuters) – Carrefour SA said on Wednesday it looked to 2022 with confidence after Europe’s largest food retailer delivered record free cash flow of 1.23 billion euros ($1.40 billion) and a 7.7% rise in operating profit for 2021. Chairman and Chief Executive Alexandre Bompard said cash generation would remain above one…
By Howard Schneider WASHINGTON (Reuters) – Federal Reserve officials last month agreed that, with inflation widening its grip on the economy and employment strong, it was time to tighten monetary policy, but also that decisions would depend on a meeting-by-meeting analysis of data, according to minutes of the Jan. 25-26 policy meeting. Participants agreed that…
