By Tiyashi Datta and Aditya Soni (Reuters) -Electronic Arts Inc lowered its annual bookings forecast on Tuesday as the publisher of “FIFA” and “Apex Legends” struggles with this year’s surge in the U.S. dollar and a gaming industry slowdown from pandemic heights. The company now expects annual bookings – an indicator of future revenue –…
By Jonathan Stempel (Reuters) -Dollar General Corp, one of the largest U.S. discount retailers, was sued on Tuesday by Ohio, which accused the company of baiting shoppers with low prices on store shelves, only to then charge more at the register. Citing inflationary pressures faced by consumers, Ohio Attorney General Dave Yost said he sued…
(Our weekly analysis of the wild world of cryptocurrencies. Repeats for additional subscribers) By Lisa Pauline Mattackal and Medha Singh (Reuters) – After months of tears and tantrums, bitcoin wants to split up with stock markets. The cryptocurrency, which has been closely correlated with tech stocks for much of its torrid 2022, is staging one…
(Reuters) – Framtiden Partnerships, a long-term shareholder of Swedish Match AB of nearly two decades, said it will not accept Marlboro maker Philip Morris International Inc’s higher offer of 116 Swedish crowns ($10.53) per share. Dan Juran, managing member of Framtiden which owns almost 1% of shares in Swedish Match, said he will still not…
(Reuters) – Tesla aims to start mass production of its Cybertruck at the end of 2023, two years after the initial target for the long-awaited pickup truck Chief Executive Elon Musk unveiled in 2019, two people with knowledge of the plans told Reuters. Tesla said last month that it was working on readying its Austin,…
By Arunima Kumar (Reuters) -Marathon Petroleum and Phillips 66 posted quarterly profits which cruised past Wall Street estimates on Tuesday, becoming the latest U.S. refiners to benefit from robust fuel demand and margins amid tight supplies. U.S. refiners are posting strong profits with refineries running at record levels this year, strong export demand amid a…
WASHINGTON (AP) — Help-wanted signs are everywhere. Employers are posting nearly two job openings for every unemployed American. Hiring is on track for its second-strongest year in government records dating to 1940. And the economy grew solidly over the summer. From certain angles, the nation’s economic picture looks like a healthy one. But the scene…
By Maximilian Heath BUENOS AIRES (Reuters) – Argentina’s government is set to announce measures, potentially within days, to allow wheat exporters to delay agreed shipments after a major drought hammered the crop, raising concern about domestic supply. A source at the country’s CEC grains exporting chamber, which represents companies buying the grain, said measures would…
By Lindsay Dunsmuir and Jonathan Cable WASHINGTON/LONDON (Reuters) -Global factory output weakened in October as widespread recession fears, high inflation and China’s zero-COVID policy hurt demand, business surveys showed on Tuesday, adding to persistent supply disruptions and darkening recovery prospects. Inflation has soared globally as supply chains still healing from the coronavirus pandemic were hit…
WASHINGTON (AP) — U.S. job openings rose unexpectedly in September, suggesting that the American labor market is not cooling as fast as the inflation fighters at the Federal Reserve hoped. Employers posted 10.7 million job vacancies in September, up from 10.3 million in August, the Labor Department said Tuesday. Economists had expected the number of…
