(Reuters) – Block Inc, the fintech firm led by Twitter co-founder Jack Dorsey, said on Thursday it had not seen a decline in overall consumer spending through April, after reporting a first-quarter operating profit that topped Wall Street targets. Block’s shares rose 10% in extended trading even though the company, formerly known as Square, reported…
By Yoshifumi Takemoto and Kantaro Komiya TOKYO (Reuters) – Core consumer prices in Tokyo, considered a leading indicator of Japanese price trends, rose 1.9% in April from a year earlier, marking the fastest annual pace in seven years, government data showed on Friday. The increase in inflation, driven mostly by energy costs and the dissipating…
By Aishwarya Nair and Eric M. Johnson (Reuters) -Air Lease Corp on Thursday pointed to strong demand for the industry’s most popular jet models as travel recovers from the pandemic but warned of potential risks to jet production from stretched global supply chains. The Los Angeles-based leasing giant issued the remarks after reporting a quarterly…
By David French (Reuters) – U.S. stocks ended Thursday sharply lower amid a broad sell-off, as investor sentiment cratered in the face of concerns that the Federal Reserve’s interest rate hike the previous day would not be enough to tame surging inflation. All three main Wall Street benchmarks erased gains made during a relief rally…
WASHINGTON (AP) — Vice President Kamala Harris and Labor Secretary Marty Walsh met with union organizers at the White House on Thursday as the administration looks to boost unionization campaigns. Participants in the meeting, which featured an unscheduled appearance by President Joe Biden, discussed organizers’ efforts to form unions in their workplaces, and how those…
By Aluisio Alves (Reuters) – MercadoLibre Inc said it was so far managing to recoup higher costs by boosting its prices as the South American e-commerce giant reversed a year-ago loss, helped by growth in its financial services unit. Chief Financial Officer Pedro Arnt said in a call with analysts that MercadoLibre was trying to…
NEW YORK (AP) — The three major U.S. banking regulators said Thursday they a plan to rewrite much of the outdated regulations tied to a decades-old banking law designed to encourage lending to the poor and racial minorities in the areas where banks have branches. The stated aim of the overhaul of the Community Reinvestment…
(Reuters) – The U.S. District Court for the Southern District of New York ordered the co-founders of cryptocurrency platform BitMEX to pay a combined $30 million fine in connection with a 2020 complaint from the Commodity Futures Trading Commission. The CFTC alleged that Arthur Hayes, Benjamin Delo and Samuel Reed were illegally operating BitMEX in…
By Conor Humphries and Tim Hepher DUBLIN (Reuters) -The head of the world’s second-largest aircraft leasing company said on Thursday Boeing had “lost its way” and might need new leadership to fix a flawed culture that overshadowed its revival. The comments by Avolon Chief Executive Domhnal Slattery represented a rare public rebuke of Boeing by…
(Reuters) -Air Lease Corp on Thursday reported a quarterly loss after the aircraft lessor recorded a previously announced $802.4 million charge on the value of jets stranded in sanctions-hit Russia. Global aircraft leasing companies have been scrambling to repossess more than 400 jets worth almost $10 billion from Russian airlines, which have mostly been unresponsive…
