(Reuters) -Zoom Video Communications Inc on Monday cut its annual profit and revenue forecasts as demand for the video-conferencing platform cools off from pandemic highs amid stiff competition from Microsoft Teams and Cisco WebEx. Shares of the pandemic darling fell 7% in extended trade after it reported its slowest quarterly revenue growth on record at…
HOUSTON (Reuters) -A U.S. court upheld a tribunal’s $8.75 billion award to U.S. oil producer ConocoPhillips over the expropriation of its Venezuelan oil assets, granting a default judgment in the case on Friday. The decision gives the U.S. company new authority to collect on a 2019 award by a World Bank tribunal. The award includes…
By Herbert Lash and Lawrence White NEW YORK/LONDON (Reuters) -U.S. and European shares tanked and the dollar surged on Monday as fears mounted that central bank efforts to tame rising consumer prices with inflation-busting interest-rate hikes will weaken the global economy and lead to a recession. The three major Wall Street indexes plunged about 2%…
A federal judge on Monday rejected a request by Ben & Jerry’s to block a plan by its corporate parent to allow its products to be sold in east Jerusalem and the occupied West Bank against the wishes of the Vermont ice cream maker’s independent board of directors. U.S. District Court Judge Andrew Carter said…
OMAHA, Neb. (AP) — Warren Buffett’s company has received clearance to boost its 20% stake in Occidental Petroleum to as much as 50%, but it’s not immediately clear how many more shares Berkshire Hathaway plans to buy or whether it will consider buying the entire company. Shares of the of the oil producer soared nearly…
By Anisha Sircar, Medha Singh and John McCrank (Reuters) – A clutch of stocks favored by retail traders tumbled on Monday in volatile trading as news that UK-based Cineworld warned of a possible bankruptcy sent AMC Entertainment Holdings’ shares diving almost 40% on the day that the U.S. movie chain’s preferred shares started trading. Bed…
(Reuters) – The Moscow Exchange will ban the use of dollars as collateral to underwrite transactions, it said on Monday, as Russia seeks to cut dependence on currencies of nations that have imposed sanctions on it. A statement posted on the exchange’s website said the new policy would come into effect on Aug. 29. It…
By Jessica DiNapoli and Jonathan Stempel NEW YORK (Reuters) – A federal judge on Monday rejected Ben & Jerry’s attempt to force its parent company Unilever Plc to immediately stop selling or marketing its ice cream in the Israeli-occupied West Bank. Burlington, Vermont-based Ben & Jerry’s sued Unilever in July to try to stop the…
BERLIN (AP) — Several substances seem to have contributed to the massive fish die-off in the Oder River that forms much of Germany’s border with Poland, a German official said Monday. Numerous theories have been floated about the cause of the environmental disaster, but so far none have been conclusive, a spokesman for Germany’s Environment…
DETROIT (AP) — About 3,000 white-collar workers at Ford Motor Co. will lose their jobs as the company cuts costs to help make the long transition from internal combustion vehicles to those powered by batteries. Leaders of the Dearborn, Michigan, automaker made the announcement Monday in a companywide email, saying that 2,000 full-time salaried workers…
