By Ahmad Ghaddar and Alex Lawler LONDON (Reuters) – After a month in which oil prices surged 15% and geopolitical tensions seethed around the world, OPEC and its allies took a record-quick 16 minutes to decide that they would stick to their previously planned output increase. Apparently, there were no lengthy discussions at Wednesday’s meeting…
By Roslan Khasawneh SINGAPORE (Reuters) – Oil prices climbed on Friday, extending sharp gains in the previous session sparked by persistent supply concerns and as frigid weather cascades across the United States, threatening to further disrupt fragile oil supplies. Brent crude was up 16 cents, or 0.2%, to $91.27 a barrel by 0102 GMT, after…
By Danielle Kaye NEW YORK (Reuters) – Amazon pulled the veil off its sprawling advertising business for the first time on Thursday, revealing a business larger than that of Google’s YouTube. Amazon reported ad revenue of $9.7 billion for the fourth quarter, up 32% from last year, and $31 billion for the year. YouTube posted…
By Eva Mathews and Nivedita Balu (Reuters) -Mark Zuckerberg lost $29 billion in net worth on Thursday as Meta Platforms Inc’s stock marked a record one-day plunge, while fellow billionaire Jeff Bezos was set to add $20 billion to his personal valuation after Amazon’s blockbuster earnings. Meta’s stock fell 26%, erasing more than $200 billion…
By Daina Beth Solomon MEXICO CITY (Reuters) -An upstart union supported by international activists on Thursday won an election to represent General Motors workers in central Mexico, opening the door to the prospect of bigger pay rises, inspired by U.S.-backed labor reform. The election was one of the first under the new Mexican law, which…
Lawmakers wondered aloud Thursday how a showdown between two federal agencies over the rollout of new high-speed wireless service reached crisis proportions last month, but they were short on answers to a dispute that raised concerns about interference with key equipment on some planes. Some flights have been canceled since Verizon and AT&T turned on…
(Reuters) – Shares of Snap and Pinterest surged in extended trading on Thursday following strong quarterly reports, and Twitter also jumped, marking a massive reversal from a wipeout in those social media stocks earlier in the day following a dismal forecast from Meta Platforms. Snap rocketed 62% higher after the company reported better-than-expected fourth-quarter user…
NEW YORK (AP) — Amazon reported Thursday that its profits nearly doubled in the final three months of last year, even as it contended with surging costs tied to a snarled supply chain and labor shortages. The Seattle-based online behemoth also said it is raising its annual prime membership fee in the U.S. to $139…
DETROIT (AP) — Ford Motor Co. reversed a loss and rode some big accounting changes to post a $17.94 billion net profit last year, even as it battled computer chip shortages that caused factory slowdowns and vehicle shortages. U.S. sales for the Dearborn, Michigan, automaker fell 7% for the year over depressed 2020 numbers. But…
NEW YORK (AP) — The abrupt ouster of CNN chief executive Jeff Zucker because of a workplace relationship has left some prominent employees feeling angry and uncertain about the direction of their network at a pivotal moment. The company is about to undergo a corporate ownership change, launch a paid streaming service and replace its…
