SINGAPORE (Reuters) – First Abu Dhabi Bank (FAB), the United Arab Emirates’ biggest lender, said on Friday that it was not evaluating an offer for Britain’s Standard Chartered. News of the potential offer first came on Jan. 5, when FAB said it had considered a bid for London-listed Standard Chartered but was no longer doing…
By Kevin Buckland TOKYO (Reuters) – Asia-Pacific stocks fell on Friday, slumping toward a second weekly loss as investors fretted about the potential for further Federal Reserve tightening and the effect on the U.S. economy. U.S. short-term Treasury yields held near a one-month high, helping the dollar tick up against major peers, after Richmond Fed…
BEIJING (Reuters) – China’s January factory gate prices fell more than economists expected, suggesting that flashes of domestic demand that had stoked consumer prices after the zero-COVID policy ended are not yet strong enough to rekindle upstream sectors. The producer price index (PPI) was down 0.8% on a year earlier, extending the 0.7% drop the…
By Nivedita Balu (Reuters) – Lyft Inc on Thursday forecast current-quarter profit far below Wall Street targets as the ride-hailing service lowered prices, triggering a 30% drop in shares on concerns it was falling behind bigger rival Uber. Lyft also forecast revenue below analyst expectations for the current quarter. Investors are watching how the two…
By David Shepardson WASHINGTON (Reuters) -Proposed U.S. requirements to retrofit airplane altimeters to ensure they are not susceptible to 5G wireless interference may cost the industry at least $637 million, the world’s biggest airline trade body said on Thursday. The International Air Transport Association (IATA), which represents more than 100 carriers that fly to the…
By Doyinsola Oladipo and Shivansh Tiwary (Reuters) -Online travel booking company Expedia Group Inc missed Wall Street estimates for fourth-quarter profit on Thursday, hit by a spike in cancellations and bad weather near the end of the quarter. Travel demand has generally been strong throughout last year despite recession and inflation fears. However, harsh December…
(Reuters) -Media conglomerate News Corp said on Thursday that it would cut 1,250 jobs after it missed estimates for second-quarter earnings due to weakness in its news and digital real estate businesses. Rising inflation and higher interest rates are forcing companies to curb their ad and marketing spend, denting one of the major sources of…
By Carolina Mandl (Reuters) – U.S. stock indexes turned lower on Thursday afternoon as Treasury yields rose after an auction, overshadowing gains in Disney after strong earnings. “The stock market started today’s session with a distinct bullish bias, but then Treasury yields moved up and that took some of the steam out of the positive…
By Luc Cohen NEW YORK (Reuters) – A U.S. judge on Thursday extended a ban on FTX cryptocurrency exchange founder Sam Bankman-Fried’s ability to contact employees of companies he once controlled and use encrypted messaging technology while out on bail awaiting trial on fraud charges. U.S. District Judge Lewis Kaplan on Feb. 1 had temporarily…
By Laila Kearney NEW YORK (Reuters) -Crude prices eased on Thursday as the devastating earthquake that struck the Middle East appeared to spare serious damage to oil infrastructure, while U.S. inventories swelled and investors worried about Federal Reserve rate hikes. Brent crude futures slipped 60 cents to $84.49 a barrel by 1:44 p.m. ET (1844…
