NEW YORK (AP) — Airline stocks rallied Thursday after Southwest Airlines and JetBlue Airways said revenue from summer travel will be stronger than previously expected as travel bounces back after two years of the pandemic. The comments, which the airlines made in regulatory filings, point to their ability to charge higher fares and still fill…
By Divya Chowdhury DAVOS, Switzerland (Reuters) – Southeast Asia and Latin America are strong growth regions for Mastercard after its withdrawal from Russia in March and India’s 2021 ban on it from issuing new cards, the company’s co-president for international markets said. “Southeast Asia is exciting (due to) the right demographics, the adoption of technology…
NEW YORK (Reuters) -Billionaire Elon Musk was sued by Twitter Inc investors for delayed disclosure of his stake in the company, as the owner of electric carmaker Tesla Inc mounts a $44 billion takeover bid for the social media platform. The investors said Musk saved himself $156 million by failing to disclose that he had…
By Scott DiSavino NEW YORK (Reuters) -Oil prices rose about 3% to a two-month high on Thursday on signs of tight supply ahead of U.S. summer driving season, as the European Union (EU) wrangled with Hungary over plans to ban crude imports from Russia over its invasion of Ukraine. Brent futures for July delivery rose…
SHANGHAI/BERLIN (Reuters) -Car sales in China, Europe and the United States remain depressed compared to last year’s levels as semiconductor shortages and anti-pandemic measures weigh on global autos markets, data showed on Thursday. Chinese retail car sales grew in May from April but were still down 16% year-on-year, according to the Chinese Passenger Car Association,…
(Reuters) -The Russian rouble slumped around 10% against the dollar in volatile trade to a two-week low on Thursday as the central bank cut interest rates to 11% and suggested more cuts would follow as inflation risks subside. The central bank cut its key rate by 300 basis points for the third time in a…
KYIV (Reuters) – Ukraine’s richest man says he plans to sue Russia over what he said was $17 billon to $20 billion in losses caused by its bombardment of steel plants he owns in the devastated city of Mariupol. The Azovstal steelworks suffered heavy damage from Russian bombing and shelling after the sprawling plant became…
By Devik Jain and Anisha Sircar (Reuters) -U.S. stocks were set to open higher on Thursday after strong earnings outlooks from companies such as Macy’s, while data confirmed the U.S. economy contracted in the first-quarter, quelling some worries about aggressive rate hikes. Macy’s Inc jumped 13.0% in premarket trading after the department store raised its…
Nvidia (NVDA) stepped up to the earnings plate last night. There was a lot of pressure to perform. Supply issues led to poor performance and a 14% decline at Cisco last week. Snap (SNAP) delivered a negative pre-announced a few days later that led to widespread selling in the tech space. Neither company indicated any…
By Divya Chowdhury DAVOS, Switzerland (Reuters) – Southeast Asia and Latin America are strong growth regions for Mastercard after its withdrawal from Russia in March and India’s 2021 ban on it from issuing new cards, the company’s co-president for international markets said. “Southeast Asia is exciting (due to) the right demographics, the adoption of technology…
