By Noel Randewich and Sinéad Carew (Reuters) – The collapse of Netflix’s stock on Wednesday after the company reported its first loss of customers in a decade is the latest drastic sign that Wall Street is abandoning streaming services and other pandemic winners and questioning whether they still merit growth stock valuations. With Netflix shares…
By Rajesh Kumar Singh CHICAGO (Reuters) – United Airlines Holdings on Wednesday forecast a profit for the second quarter as it expects booming travel demand to generate the highest quarterly revenue in the company’s history. After a speed bump caused by the Omicron-driven surge in COVID-19 cases early in the year, travel demand has surged…
WASHINGTON (Reuters) – A group of 21 U.S. lawmakers sent a letter to Facebook chief executive Mark Zuckerberg on Wednesday voicing concern about what they called disinformation on the platform aimed at Spanish speakers about Russia’s invasion of Ukraine. The disinformation is spread by Moscow-backed outlets like RT en Espanol, among others, said the letter…
By Leticia Augusto and Ricardo Brito SAO PAULO/BRASILIA (Reuters) -Brazilian government officials have warned that the TCU federal audit court on Wednesday may further delay a ruling on the privatization of Eletrobras, which could derail plans to complete the process before this year’s election. For months, TCU auditors have reviewed the plan to relinquish state…
By Jonathan Stempel (Reuters) – Elon Musk on Wednesday urged a federal judge not to prevent him from publicly discussing a lawsuit accusing him of deceiving Tesla Inc shareholders by tweeting in 2018 about taking his electric car company private. In a filing with the federal court in San Francisco, Musk and Tesla said the…
MEXICO CITY (Reuters) – Mexican inflation likely slowed very slightly during the first half of April, but remained well above the central bank’s target, a Reuters poll showed on Wednesday, reinforcing bets the monetary authority will continue raising interest rates. The median forecast of 10 analysts surveyed was for inflation to reach 7.60%, marginally down…
(Reuters) – The U.S. economy expanded at a moderate pace from February through early April and there was little respite for businesses from high inflation and worker shortages, a Federal Reserve report showed on Wednesday. The latest anecdotal evidence from U.S. firms paints a picture of an economy which received a boost from falling COVID-19…
DETROIT (AP) — A federal judge in California has rejected a request from shareholders in a lawsuit to force Elon Musk stop talking about his 2018 tweets in which he said he had the funding to make Tesla a private company. The ruling by U.S. District Judge Edward Chen Wednesday came just hours after the…
A new effort to help grantmakers change the way they work so they can better support Black-led nonprofits was announced Monday. Abundance is a collaboration between three Chicago-area grantmakers, Chicago Beyond, the Grand Victoria Foundation, and the John D. and Catherine T. MacArthur Foundation. Abundance is not a pledge, but rather a program for grantmakers….
By Lucia Mutikani WASHINGTON (Reuters) – U.S. home sales dropped to the lowest level in nearly two years in March as house prices raced to a record high, and could decline further with mortgage rates hitting 5%. The report from the National Association of Realtors on Wednesday also showed the drop in sales in February…
