By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) – Walt Disney Co reduced streaming losses by $400 million from the prior quarter but also shed subscribers, the company reported on Wednesday as quarterly earnings landed in line with Wall Street expectations. Shares of Disney fell 4.4% in after-hours trading. A price increase and reduced…
By Carolina Mandl and Shristi Achar A (Reuters) – The Nasdaq ended Wednesday at its highest intraday level in more than eight months, boosted by a slightly lower-than-expected increase in April inflation and Alphabet Inc’s latest artificial intelligence rollout. The Labor Department’s Consumer Price Index (CPI) rose 4.9% in April from a year ago, compared…
By Manya Saini (Reuters) – Robinhood Markets Inc on Wednesday surpassed Wall Street estimates for first-quarter revenue, as the U.S. Federal Reserve’s rapid rate hikes boosted the online brokerage’s interest income. Shares of the company, which was at the center of 2021’s retail trading frenzy, pared gains and were last up 2% in volatile extended…
By Sabrina Valle HOUSTON (Reuters) -Occidental Petroleum Corp on Wednesday said it will distribute any excess cash from high oil prices to shareholders instead of funding direct air capture (DAC) plants. The U.S. oil producer has the most ambitious plan in the industry to bring to scale a decarbonization technology that removes carbon dioxide from…
By David Shepardson WASHINGTON (Reuters) – The largest U.S. oil and gas trade lobby group said on Wednesday it believes sharp emissions cuts proposed by the U.S. Environmental Protection Agency (EPA) would result in the elimination of new internal combustion vehicles. But a California air regulator said the EPA plan “will benefit the climate, air…
By David Shepardson WASHINGTON (Reuters) – The largest U.S. oil and gas trade lobby group said on Wednesday it believes sharp emissions cuts proposed by the U.S. Environmental Protection Agency (EPA) would result in the elimination of new internal combustion vehicles. But a California air regulator said the EPA plan “will benefit the climate, air…
By Patricia Zengerle WASHINGTON (Reuters) – U.S. congressional leaders on Wednesday put off debate on the National Defense Authorization Act, or NDAA, an annual bill setting policy for the Pentagon, as the must-pass legislation got caught up in debate over raising the country’s borrowing limit. House of Representatives Armed Services subcommittees had been scheduled to…
By Chris Prentice and Michelle Price WASHINGTON (Reuters) – A U.S. accounting watchdog found unacceptable deficiencies in audits of U.S.-listed Chinese companies performed by KPMG in China and PricewaterhouseCoopers in Hong Kong, the government agency said on Wednesday. The U.S. Public Company Accounting Oversight Board (PCAOB)published the findings of its inspections after gaining access to…
By Ananya Mariam Rajesh (Reuters) -Beyond Meat said on Wednesday it expects sharper revenue growth in the second half of 2023 after reporting a smaller-than-expected quarterly loss on easing supply chain pressures and cost controls. Shares in the plant-based meat company rose as much as 11% in extended trading before paring gains, last up 4%,…
By Dietrich Knauth (Reuters) – Bankrupt cryptocurrency exchange Bittrex Inc received court permission Wednesday to borrow $7 million in bitcoin to fund the start of its Chapter 11 case. Seattle-based Bittrex filed for bankruptcy Monday, saying it intended to return customer funds and wind down its U.S. operations. The company’s international affiliates will continue to…
