Netflix’ takeover of Blockbuster as the go-to video platform for consumers is one of the most popular case studies for business academics. It was a classic case of David beating Goliath as the later failed to understand the changing economic landscape. The last two quarters, NFLX has looked more like Blockbuster than a streaming giant…
By Bansari Mayur Kamdar and Amruta Khandekar (Reuters) -The tech-heavy Nasdaq fell on Wednesday as streaming giant Netflix slumped after shedding subscribers for the first time in a decade, dragging down shares of high-growth companies set to report results. The benchmark S&P 500 and the blue-chip Dow, however, stayed buoyant on the back of upbeat…
PARIS (Reuters) – Carrefour said on Wednesday it was confident it would achieve the strategic goals set under its turnaround plan after its sales growth accelerated in the first quarter, thanks notably to strong growth in Brazil. Europe’s largest food retailer reiterated a target to generate free cash flow above 1 billion euros ($1.1 billion)…
(Reuters) – The U.S. Federal Reserve should proceed sensibly in raising interest rates as it waits to see if special factors pushing up inflation begin to recede, Chicago Federal Reserve President Charles Evans said on Wednesday. “I think timing for how monetary policy is responding can be sensible even though we’re currently experiencing very high…
OMAHA, Neb. (AP) — CSX has agreed to start paying some of its employees more in advance of raises the railroad expects to agree to as part of ongoing national contract talks. CSX said the payments of up to $600 a month are expected to start next month for members of the Sheet Metal, Air,…
By Jessica DiNapoli and Uday Sampath Kumar (Reuters) -Procter & Gamble Co raised its full-year sales forecast on Wednesday as consumer demand for cleaning and personal care products remained stronger than expected despite higher prices, sending its shares up more than 2%. P&G’s sales growth is at its strongest in at least 15 years, according…
Sales of previously occupied U.S. homes slowed in March to the slowest pace in nearly two years as a swift rise in mortgage rates and record-high prices discouraged would-be homebuyers. Existing home sales fell 2.7% last month from February to a seasonally adjusted annual rate of 5.77 million, the National Association of Realtors said Wednesday….
By Eva Mathews and Nivedita Balu (Reuters) -Netflix Inc shares lost over a third of their value on Wednesday after the company reported its first drop in subscribers in a decade, leaving Wall Street questioning its growth in the face of fierce competition and post-pandemic viewer fatigue. The streaming pioneer’s shares fell 37% to $220.40…
WASHINGTON (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday that China should use fiscal space to stimulate consumption as it faces an economic slowdown prompted by renewed COVID-19 lockdowns. Georgieva said that China had ample fiscal and monetary policy space to counteract this, but it would be better to stimulate consumption….
WARSAW, Poland (AP) — Two methane explosions at a coal mine in southern Poland killed five people and injured more than 20 early Wednesday, the Polish prime minister said. Seven others were missing. The first blast took place shortly after midnight about 1,000 meters (3,000 feet) under the surface at the Pniowek mine in Pawlowice,…
