By Supantha Mukherjee and Dawn Chmielewski STOCKHOLM/LOS ANGELES (Reuters) -Spotify on Wednesday forecast current quarter subscribers lower than Wall Street expectations, but executives sought to reassure investors that growth had not cratered even as it deals with the fallout from the controversy around The Joe Rogan Experience podcast. The company’s shares fell as much as…
DALLAS (AP) — Airline and tourism groups are pushing to eliminate the government requirement that international travelers provide a negative test for COVID-19 before boarding a U.S.-bound plane. They believe the testing rule is discouraging people from booking international trips. They point to the United Kingdom, which eliminated a similar rule last month. Airlines for…
(Reuters) -Qualcomm Inc on Wednesday forecast second-quarter revenue above Wall Street estimates amid soaring demand for its chips used in devices from phones to internet-run gadgets on the back of an uptick in 5G and cloud adoption. With 5G services rolling out across the United States and being increasingly adopted worldwide, Qualcomm is set to…
By Helen Coster and Dawn Chmielewski (Reuters) – CNN President Jeff Zucker, whom industry insiders speculated would play a larger role when the network becomes part of Discovery, resigned on Wednesday, telling staff he failed to disclose a consensual relationship with a colleague. Zucker, 56, said in a memo that his relationship came to light…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar declined to a more than a one-week low on Wednesday after data showed a drop in U.S. private sector employment in January due to the increase in COVID-19 infections. However, the data is unlikely to prevent the Federal Reserve from hiking interest rates at the March…
LONDON (AP) — Northern Ireland’s agriculture minister on Wednesday ordered a halt to post-Brexit border checks at ports, another complication in a saga that has soured relations between the U.K. and the European Union. Edwin Poots said he had received legal advice saying he could halt inspections of agri-food products coming from the rest of…
By David Gaffen NEW YORK (Reuters) – Oil prices edged up on Wednesday after OPEC+ stuck to planned moderate output increases despite pressure from top consumers to raise output more quickly. Brent crude ended settling up 31 cents to $89.47 a barrel, while U.S. West Texas Intermediate crude gained 6 cents to $88.26 a barrel….
By David Shepardson and Patricia Zengerle WASHINGTON (Reuters) – The U.S. House of Representatives on Wednesday advanced a multibillion-dollar bill aimed at increasing American competitiveness with China and boosting U.S. semiconductor manufacturing, teeing up the legislation for full approval by the chamber this week. Democratic President Joe Biden’s administration has been working to persuade Congress…
SAO PAULO (Reuters) – Volvo’s Brazilian unit announced on Wednesday that it will invest 1.5 billion reais ($283.36 million) in the country by 2025, after reporting record truck sales last year. The figure will be directed mainly to research and development of products and services, said the Swedish company. In 2021, Volvo sold 21,800 trucks…
(Adds full name and title of strategist) NEW YORK (Reuters) -A U.S. Treasuries yield curve inversion this time around may not be the perfect predictor of a recession, a Credit Suisse strategist said on Wednesday, as the Federal Reserve’s focus on reducing inflation could take priority over economic growth concerns. Reflecting the U.S. central bank’s…
