By Sheila Dang (Reuters) -Snap Inc on Thursday missed analyst expectations for quarterly revenue as changes to its advertising platform hurt demand for ads, and warned results in the next quarter could fall below Wall Street’s targets. Shares of Snap tumbled 19% in after-market trading. The Santa Monica, California-based company, which owns photo messaging app…
By Vansh Agarwal (Reuters) -Pinterest Inc forecast second-quarter revenue growth below Wall Street estimates on Thursday, as the image-sharing platform grapples with a pullback in advertising spending, sending its shares down 13% in trading after the bell. While Pinterest said that the ad market was stabilizing, it warned the market was still uncertain. Shares of…
By Michelle Nichols UNITED NATIONS (Reuters) -The U.N. Security Council unanimously condemned on Thursday a Taliban administration ban on Afghan women working for the United Nations in Afghanistan and called on Taliban leaders to “swiftly reverse” a crackdown on the rights of women and girls. The resolution – drafted by the United Arab Emirates and…
By Luc Cohen NEW YORK (Reuters) – A former chief financial officer of multiple special purpose acquisition companies (SPACs) was sentenced to three years in prison on Thursday for embezzling more than $5 million from them, and losing almost all of it trading meme stocks and cryptocurrencies. Cooper Morgenthau, 36, of Fernandina Beach, Florida, pleaded…
By Deena Beasley (Reuters) -Amgen Inc on Thursday reported lower first-quarter profit as expenses rose and a 2% increase in sales of its own drugs was offset by lower revenue from its deal to manufacture COVID-19 antibody treatments for Eli Lilly and Co. Amgen reported revenue of $6.11 billion for the quarter, down 2% from…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Amidst a deluge of economic indicators across the continent and a screeching U.S. tech sector rally that’s lifting global stock markets, all eyes in Asia will be fixed on one event Friday: the Bank of Japan’s policy meeting….
WASHINGTON (Reuters) – The Senate Judiciary Committee called on U.S. Supreme Court Justice John Roberts to provide details about the top court’s ethics practices, the panel’s chairman said on Thursday after the chief justice declined to attend a hearing on reports that raised questions about potential conflicts of interest. Roberts has declined a request to…
LIMA (Reuters) – Peru’s economy minister on Thursday said “conditions were being established” to develop lithium mining projects in the country, a week after Chile launched a plan to boost state control of the industry. “A window of opportunity has opened and we want to take advantage of it,” said Economy Minister Alex Contreras, saying…
By Sheila Dang (Reuters) -Advertisers are sticking with safe havens Alphabet and Meta Platforms in an uncertain economy, their quarterly results showed, likely helping the tech giants take market share away from smaller digital ad sellers such as Snap Inc. Following a pandemic-led spending bonanza by advertisers who wanted to reach customers online, ad sales-reliant…
By Stephanie Kelly NEW YORK (Reuters) – The U.S. ethanol industry is lobbying the Biden administration to ensure lower-carbon aviation fuel made from ethanol will qualify for subsidies under the Inflation Reduction Act, arguing such provisions are crucial to meeting U.S. climate goals. The campaign reflects the ethanol industry’s desire to expand into aviation following…
