By Jaiveer Shekhawat and Hannah Lang (Reuters) -Payments giant PayPal said on Monday it has launched a U.S. dollar stablecoin, becoming the first major financial technology firm to embrace digital currencies for payments and transfers. PayPal’s announcement, which lifted its shares 2.66% on Monday, reflects a show of confidence in the troubled cryptocurrency industry that…
WASHINGTON (Reuters) – U.S. President Joe Biden signed legislation on Monday implementing the U.S. and Taiwan’s “21st Century” trade initiative and issued a statement saying certain sections of the law “raise constitutional concerns.” Biden said he would treat those sections, which require transmission of trade deal drafts to Congress, as non-binding if they “impermissibly infringe…
By Herbert Lash NEW YORK (Reuters) -A gauge of global equities rose and the dollar edged higher on Monday, reversing downward moves after a mixed U.S. jobs report last week, as investors await U.S. and Chinese inflation data that could test the stock market’s recovery this year. The dollar recovered from a one-week low on…
By Siddharth Cavale and Ananya Mariam Rajesh NEW YORK (Reuters) – Amazon’s strong quarterly results are one more sign that Americans are still shopping, despite months of ominous economic indicators, and could be a positive signal for Walmart and Target, who report next week. The e-commerce giant reported a 4.2% jump in sales on Amazon.com…
By Jonathan Stempel (Reuters) -Berkshire Hathaway’s stock price set a record high on Monday, rising 3.4% after the conglomerate run by billionaire investor Warren Buffett said quarterly operating profit topped $10 billion for the first time. In its second-quarter earnings report on Saturday, Berkshire said rising interest rates boosted profit from fixed-income investments, including a…
By Tom Polansek and Granth Vanaik (Reuters) -Tyson Foods missed Wall Street expectations for third-quarter revenue and profit on Monday, hurt by falling chicken and pork prices as well as slowing demand for its beef products. Shares closed down about 4% after earlier falling nearly 10% as the company said it is evaluating all operations…
(Reuters) – Paramount Global said on Monday it was selling Simon & Schuster to KKR & Co for $1.62 billion in an all-cash deal, marking the end of a years-long attempt to sell the book publisher. (Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shilpi Majumdar)
By Will Dunham , 2023 (Reuters) -William Friedkin, who achieved cinematic immortality by directing the bleak, gritty 1971 drug-smuggling thriller “The French Connection” and the terrifying 1973 demon-possession blockbuster “The Exorcist,” died on Monday at the age of 87. He died at his home from heart failure and pneumonia, said a spokesperson for Creative Artists…
By Leonardo Benassatto and Ueslei Marcelino BELEM, Brazil (Reuters) – Raoni Metuktire, an Indigenous chief from Brazil’s Amazon, will urge the region’s head of state meeting here this coming week to step up their efforts to preserve the rainforest that is vital to his people’s survival and the global climate. “I will ask the presidents…
By Gabriel Araujo SAO PAULO (Reuters) – The pandemic surge in demand for executive jets has not softened and Brazilian planemaker Embraer still has a two-year backlog for the aircraft, an executive told Reuters. Embraer expects to deliver as many as 130 private jets in 2023, a 27.5% jump from last year to the highest…
