By Kannaki Deka (Reuters) -Peloton Interactive Inc reported a wider-than-expected quarterly loss and warned it expects to sign up fewer members for the year, raising concerns about the fitness equipment maker’s growth prospects. Shares of the company fell 15% in morning trading after initially rising on stronger-than-expected forecast for fourth-quarter revenue. Last year, the pandemic…
WASHINGTON (Reuters) – U.S. ambassador to Russia Lynne Tracy on Thursday visited American citizen Paul Whelan in the prison he has been held in Mordovia in eastern Russia, the U.S. embassy said. “Paul has been wrongfully detained in Russia for more than 4 years, and his release remains an absolute priority. The U.S. government will…
By Stephanie van den Berg and Toby Sterling THE HAGUE (Reuters) – Russian President Vladimir Putin must be brought to justice for his war in Ukraine, Ukrainian President Volodymyr Zelenskiy said on Thursday in The Hague, calling for a new international tribunal for the “crime of aggression.” “We’re going to set up a specific tribunal……
By Chavi Mehta (Reuters) – Shopify Inc on Thursday posted a surprise first-quarter profit and announced plans to lay off 20% of its staff while allaying investor concerns by exiting its logistics arm, sending its shares surging about 28%. The Canadian e-commerce company had aggressively built out an order-fulfillment network in recent years on expectations…
WASHINGTON (Reuters) – The U.S. Treasury Department on Thursday said it was continuing to monitor market developments amid sharp drops in the shares of regional lenders PacWest Bancorp <PACW.O and Western Alliance Bancorp, but deposit flows were stable. “We continue to closely monitor market developments,” a Treasury official said. “The banking system has substantial liquidity and…
By Nandita Bose and David Shepardson WASHINGTON (Reuters) -The White House will host CEOs of top artificial intelligence companies, including Alphabet Inc’s Google and Microsoft, on Thursday to discuss risks and safeguards as the technology catches the attention of governments and lawmakers globally. Generative artificial intelligence has become a buzzword this year, with apps such…
By Martin Petty (Reuters) – The United States and the Philippines have agreed on new guidelines for their 1951 Mutual Defense Treaty, following multiple requests by Manila to make clear the conditions under which Washington would come to its defence. WHY DID THE PHILIPPINES WANT CLARIFICATION? Though the United States has reassured the Philippines their…
By Karen Lema MANILA (Reuters) – The United States has laid out in clear terms the extent of its defence treaty commitments to the Philippines, issuing new guidelines that refer specifically to attacks in the South China Sea, including on its coast guard. The six-page “bilateral defence guidelines” agreed in Washington on Wednesday follow a…
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for jobless benefits increased last week as the labor market gradually softens amid higher interest rates, which are cooling demand in the economy. But borrowing costs could remain elevated for a while, with other data on Thursday showing labor costs surged in…
By Ernest Scheyder (Reuters) – Albemarle Corp plans to deploy new lithium filtration technologies in Chile as the government moves to broader control over its vast lithium sector and expand production of the metal used to make electric vehicle (EV) batteries, Chief Executive Kent Masters said on Thursday. While lithium for years has typically been…
