By Camillus Eboh NIAMEY/ABUJA (Reuters) -The self-declared new leader of Niger on Wednesday said the junta would not bow to pressure to reinstate ousted President Mohamed Bazoum, intensifying a standoff with the West African bloc which has threatened to intervene after last week’s coup. The Economic Community of West African States (ECOWAS) has imposed sanctions…
By David Lawder MCLEAN, Virginia (Reuters) -U.S. Treasury Secretary Janet Yellen on Wednesday voiced more complaints about Fitch Ratings’ downgrade of the main U.S. credit rating, calling it “entirely unwarranted” because it ignored improvements in governance metrics during the Biden administration and the country’s economic strength. Speaking at an Internal Revenue Service contractor office near…
By Sri Hari N S and Manya Saini (Reuters) -PayPal Holdings shares fell 7% in extended trading on Wednesday as investors were disappointed by the payments firm’s quarterly operating margin, even as executives said they expect improvement towards the end of the year. Underwhelming margins at PayPal have been worrying analysts in recent quarters. The…
By Davide Barbuscia (Reuters) – Rating agency Fitch on Tuesday downgraded the U.S. government’s top credit rating, a move that drew an angry response from the White House and surprised investors, coming despite the resolution of the debt ceiling crisis two months ago. Traders’ immediate response was to embark on a safe-haven push out of…
(Reuters) -Etsy Inc on Wednesday forecast third-quarter revenue below market expectations, signaling softening in demand for handcrafted goods at its online marketplace, sending its shares down 6% after the bell. A rise in prices of essential goods has forced consumers to cut back on spending on discretionary items, which include higher-margin home furnishing goods and…
(Reuters) -Nutrien on Wednesday decided to indefinitely pause its ramp-up plans for potash production and halt work on its clean ammonia project at Geismar, Louisiana, as the world’s biggest fertilizer producer grapples with falling prices. Its U.S.-listed shares fell 2.6% in extended trading as the company cited market conditions for stopping efforts to bolster potash…
(Reuters) – MGM Resorts International beat Wall Street profit estimates for the second quarter on Wednesday, as visitor rebound in China surpassed pre-pandemic levels. However, costs for casino operations, hotel rooms and food and beverages rose, sending shares down 6.05% in aftermarket trade. The post-pandemic travel rebound in China and Macau has been a tailwind…
By Patrick Wingrove (Reuters) – Drugmakers are bracing for the U.S. government’s announcement of the 10 prescription medicines that will be subject to the first-ever price negotiations by the Medicare health program that covers 66 million people, according to three top manufacturers. The U.S. is expected to publish the list online in about a month,…
By Chavi Mehta, Stephen Nellis and Max A. Cherney (Reuters) -Qualcomm forecast fourth-quarter sales below market expectations on Wednesday and said it would likely cut jobs as consumer spending on gadgets like smartphones remained stubbornly weak amid slowing global economic growth. The San Diego, California-based company said it also expects no further sales to Chinese…
By Yuvraj Malik (Reuters) -Canada’s Shopify forecast strong revenue growth and delivered better-than-expected results for the second quarter on Wednesday, helped by new signups and price increases across its services. Merchants and businesses are turning to Shopify, which offers tools to create and manage online store-fronts, as retail spending picks up on signs of stabilizing…
