By Danilo Masoni, Akash Sriram and Noel Randewich (Reuters) -Shares of Facebook owner Meta plummeted 26% on Thursday in what could be the worst single-day wipeout in market value for a U.S. company, after the social media giant issued a dismal forecast, blaming Apple Inc’s privacy changes and increased competition. The huge drop, erasing over…
By Sheila Dang (Reuters) – Snap Inc reported better-than-expected fourth quarter revenue and user growth on Thursday, and provided a first quarter outlook that surpassed analyst estimates, sending its shares up 30% in trading after the bell. The results indicate Snap has avoided additional damage from Apple Inc’s privacy changes, which were introduced last year…
By Jonnelle Marte (Reuters) – The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) unveiled on Thursday long-awaited technical research and open-source code that could be used as the groundwork for a potential central bank digital currency. The research does not suggest that the U.S. central bank will move toward launching…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The euro surged to a three-week high against the U.S. dollar on Thursday after comments from European Central Bank President Christine Lagarde fuelled expectations of faster policy tightening, as she focused on the prospect of euro zone inflation overshooting. She also did not repeat previous comments that interest rates…
(Reuters) – American Express Co said on Thursday it would ask its New York employees to work from office at least once a week, starting March 1, according to a memo posted on the company’s website. (Reporting by Sohini Podder in Bengaluru; Editing by Anil D’Silva)
Cheryl Andrews-Maltais takes note of the heart-wrenching dates that remind Wampanoag families that they’re still in the midst of the opioid drug crisis — birthdays of loved ones lost, anniversaries of their passing. Then she reaches out with a phone call to the grieving. “And then you’re on the other side of it, and you’re…
By Danilo Masoni and Akash Sriram (Reuters) – Shares of Facebook owner Meta fell 26% on Thursday in what could be the worst single-day wipeout in market value for a U.S. company, after the social media giant issued a dismal forecast, blaming Apple Inc’s privacy changes and increased competition. The huge drop, erasing over $200…
(Fixes day of the week in first paragraph) By Michael Erman (Reuters) -Merck & Co said on Thursday it expects its 2022 sales to increase as much as 18 percent over last year, mostly on sales of its new COVID-19 pill, molnupiravir. The drugmaker said sales of the COVID-19 drug were $952 million in the…
By Diane Bartz WASHINGTON (Reuters) -The Senate Judiciary Committee on Thursday voted to approve a bill that would rein in app stores of companies they said exert too much market control, particularly Apple Inc and Alphabet Inc’s Google. The measure, sponsored by Democratic Senators Richard Blumenthal and Amy Klobuchar along with Republican Senator Marsha Blackburn,…
By Andy Bruce and David Milliken LONDON (Reuters) -The Bank of England raised interest rates to 0.5% on Thursday and nearly half its policymakers wanted a bigger increase to contain rampant price pressures, which the British central bank warned would push inflation above 7%. In a surprise split decision, four of the nine Monetary Policy…
