By Tom Sims and Marta Orosz FRANKFURT (Reuters) -Deutsche Bank reported a surge in fourth-quarter earnings on Thursday, exceeding expectations and contributing to a third consecutive year of profit, helped by higher interest rates and buoyant trading. The period marked an end to a 9 billion euro ($9.9 billion)four-year turnaround plan put in place by…
NEW DELHI (Reuters) – India’s Adani group shares sank on Thursday after market turmoil forced the conglomerate to axe a crucial $2.5 billion stock offer, deepening its market losses to more than $100 billion and sparking worries about the potential systemic impact. The withdrawal of Adani Enterprises’ share sale marked a dramatic setback for Gautam…
By Davide Barbuscia and Lewis Krauskopf (Reuters) – A more dovish-than-expected message from Federal Reserve Chairman Jerome Powell stands to further boost hopes of slowing rate hikes and a so-called economic soft landing that have fueled a powerful rebound in U.S. stocks. For weeks, hopes that easing inflation and cooling growth will allow the Fed…
By Krystal Hu (Reuters) – ChatGPT, the popular chatbot from OpenAI, is estimated to have reached 100 million monthly active users in January, just two months after launch, making it the fastest-growing consumer application in history, according to a UBS study on Wednesday. The report, citing data from analytics firm Similarweb, said an average of…
By David Shepardson WASHINGTON (Reuters) – A Federal Aviation Administration safety official, National Transportation Safety Board chair and head of the largest pilots union are among those who will testify on Feb. 7 before Congress. The House Transportation and Infrastructure Committee hearing “Enhancing America’s Gold Standard in Aviation Safety” comes amid growing scrutiny of the…
By Leika Kihara SHIZUOKA, Japan (Reuters) -Bank of Japan (BOJ) Deputy Governor Masazumi Wakatabe on Thursday warned against watering down the bank’s 2% inflation target, saying that doing so would undermine the effects of its ultra-loose monetary policy. The remark came in the wake of a proposal by a panel of academic and business executives…
By Tim Hepher PARIS (Reuters) -Airbus and Qatar Airways have settled a dispute over grounded A350 jets, the companies said on Wednesday, averting a potentially damaging UK court trial after a blistering 18-month feud that tore the lid off the global jet market. The “amicable and mutually agreeable settlement” ends a $2 billion row over…
By Katie Paul and Nivedita Balu (Reuters) -Meta Platforms Inc’s stricter cost controls this year and a new $40 billion share buyback sent shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 the “Year of Efficiency.” The parent of Instagram and Facebook, which has fallen on hard times amid a broad post-pandemic slump in…
By Shankar Ramakrishnan, Svea Herbst-Bayliss and Carolina Mandl (Reuters) – When Hindenburg Research revealed a short position in Adani Group last week, some U.S. investors said they were intrigued about the actual mechanics of its trade, because Indian securities rules make it hard for foreigners bet against companies there. Hindenburg’s bet has been lucrative so…
By Joyce Lee and Jane Lanhee Lee SEOUL/SAN FRANCISCO (Reuters) -Samsung Electronics unveiled its latest premium smartphones with a focus on their powerful cameras on Wednesday, in a test of its brand power as the market for mobiles undergoes unprecedented contraction. Analysts said the Galaxy S23 smartphone series, with its cameras and faster chips than…
