NEW YORK (Reuters) – U.S. consumer prices increased in April on higher gasoline costs and rents, while underlying inflation remained strong as used motor vehicle prices rebounded, potentially ensuring that the Federal Reserve keeps interest rates elevated for a while. The Consumer Price Index (CPI) rose 0.4% last month after gaining 0.1% in March, the…
(Reuters) – The New York Times Co missed estimates for quarterly revenue on Wednesday as a turbulent economy sapped digital subscriber growth and forced businesses to cut back on advertising spending, sending its shares tumbling 6%. High inflation and rising interest rates have prompted readers to rethink their paid subscriptions, hampering the publisher’s strategy of…
(Reuters) -The New York Times Co missed estimates for quarterly revenue on Wednesday as a turbulent economy sapped digital subscriber growth and forced businesses to cut back on advertising spending, sending its shares tumbling 6%. High inflation and rising interest rates have prompted readers to rethink their paid subscriptions, hampering the publisher’s strategy of bundling…
By Tiyashi Datta and Yamini Kalia (Reuters) -Roblox Corp on Wednesday topped quarterly bookings estimates on Wednesday, as a wider audience swarmed to the platform for games such as “Adopt Me!” and “Pet Simulator X”, pushing the company’s shares up nearly 4% in morning trading. Roblox’s results follow a strong showing from videogame publisher Electronic…
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador said Wednesday he would present a constitutional reform to have judges and magistrates elected by the people. Lopez Obrador has lashed out against the judiciary in recent days after an electoral reform, which would shrink the country’s elections authority, was partially struck down by the…
By Victoria Waldersee and Jan Schwartz BERLIN (Reuters) -Volkswagen defended its record in China and its decision to jointly own a plant in the Xinjiang region after activists and investors lashed out at the carmaker at a volatile annual general shareholder meeting on Wednesday. About ten activists, including one topless woman with ‘Dirty Money’ painted…
By Ankit Kumar and Mrinalika Roy (Reuters) -Trulieve Cannabis Corp posted a bigger-than-expected fall in first-quarter revenue on Wednesday, as demand for pot and related products weakened amid rising recession fears and increased competition. Shares of Trulieve fell nearly 4% to C$6.88 in morning trade, having fallen almost 33% so far this year. Recent banking…
By Orhan Coskun ANKARA (Reuters) – Turkey’s economy is bracing for a “lost year” no matter who wins landmark elections on Sunday, political insiders say, even if the opposition pledges to tear down President Tayyip Erdogan’s unorthodox policies. The main opposition alliance, which is leading in some opinion polls, promises to free up the economy…
DUBLIN (Reuters) – Ireland could amass a 142 billion euro ($156 billion) sovereign wealth fund by 2035 and cover much of its future age-related costs if it invests all its forecast windfall corporation tax receipts, the finance ministry estimated on Wednesday. Ireland was one of the few euro zone countries to record a budget surplus…
(Reuters) -Airbnb’s shares slid 12% on Wednesday after the top vacation rental firm issued a gloomy second-quarter forecast and signaled that the high cost of travel may be finally catching up to budget-conscious U.S. consumers. Household savings and pent-up demand have largely insulated the U.S. travel industry from inflationary pressures that have roiled other sectors….
