WASHINGTON (Reuters) – U.S. labor costs increased solidly in the first quarter as strong wage gains persisted amid a tight labor market, suggesting inflation could remain elevated for a while. The Employment Cost Index, the broadest measure of labor costs, rose 1.2% last quarter after increasing 1.1% in the October-December period, the Labor Department said…
MADRID (Reuters) – People in Barcelona had to do a double take on Friday when former President Barack Obama, Michelle Obama and film maker Steven Spielberg joined the throngs of tourists to visit some of the city’s main sites – albeit with added security. The trio were in Barcelona to attend a concert by pal…
By Chibuike Oguh and Bansari Mayur Kamdar NEW YORK (Reuters) – The U.S.-listed shares of small and micro-cap Chinese firms soared on Friday, reminiscent of meme-like rallies last summer that were underpinned by strong demand from retail investors. So-called meme rallies are unusual share price gains, driven by social media sites patronized by individual traders….
By Chibuike Oguh and Bansari Mayur Kamdar NEW YORK (Reuters) – The U.S.-listed shares of small and micro-cap Chinese firms soared on Friday, reminiscent of meme-like rallies last summer that were underpinned by strong demand from retail investors. So-called meme rallies are unusual share price gains, driven by social media sites patronized by individual traders….
By Paul Sandle LONDON (Reuters) – Britain’s Competition and Markets Authority (CMA) on Wednesday blocked Microsoft’s $69 billion acquisition of ‘Call of Duty’ maker Activision Blizzard over concerns it would hinder cloud gaming. The ruling was a shock after the regulator had already resolved its concerns about the consoles market, a sector dominated by Sony’s…
By Isabel Woodford MEXICO CITY (Reuters) -Mexican distiller Becle, the world’s largest tequila producer, narrowed down its forecasts for its 2023 sales growth, an executive said on Thursday, after profits slumped over the first three months of the year. Becle, which produces the popular Jose Cuervo tequilas, now forecasts annual growth in the high single…
(Reuters) – The Federal Reserve and Federal Deposit Insurance Corp issued detailed reports on Friday on what went wrong and where their supervisors came up short in the run-up to the two biggest bank failures since the Great Financial Crisis. Below are key details from the government’s post-mortems, which underscore management failings at Silicon Valley…
(Reuters) – Iran’s intelligence ministry on Friday accused foreign “enemies” and dissidents of fomenting fears over suspected poisonings of schoolgirls, saying its investigation found no actual poisoning. The wave of suspected attacks has affected thousands of schoolgirls and provoked public anger, after months of protests against Iran’s clerical rulers following the death of a young…
By Noel Randewich (Reuters) -Shares of both Pinterest Inc and Snap Inc tumbled about 18% on Friday after the two social media companies’ quarterly reports spooked investors worried about weak digital ad spending. Their disappointing reports late on Thursday stood in contrast to strong results earlier this week from digital advertising heavyweights Alphabet Inc and…
By Nupur Anand, Andrea Shalal and Greg Roumeliotis NEW YORK (Reuters) – U.S. officials are coordinating urgent talks to rescue First Republic Bank as private-sector efforts led by the bank’s advisers have yet to reach a deal, according to three sources familiar with the situation. The Federal Deposit Insurance Corporation (FDIC), the Treasury Department and…
