(Reuters) – Australia’s prudential regulator said on Wednesday Bendigo and Adelaide Bank no longer needs to keep an additional amount of cash reserve after the mid-sized lender took steps to rectify issues related to liquidity requirements. The Australian Prudential Regulation Authority (APRA) in 2020 had taken action against the bank for breaching prudential standard on…
By David Milliken LONDON (Reuters) – The Bank of England will not succeed in returning inflation to its 2% target before 2028 at the earliest, according to forecasts from a leading academic think-tank which warned the British economy was succumbing to stagnation. The National Institute of Economic and Social Research (NIESR) forecast inflation will fall…
By Yuvraj Malik (Reuters) -Lyft signaled on Tuesday it would double down on competitive pricing to catch up with larger rival Uber, taking the shine off its strong earnings forecast and sending the company’s shares down nearly 7% in extended trading. Under new CEO David Risher, Lyft has lowered ride fares and embarked on an…
By David Shepardson WASHINGTON (Reuters) -Two U.S. lawmakers on Tuesday asked the Federal Communications Commission (FCC) to address questions about potential security concerns involving cellular modules made by Chinese companies including Quectel and Fibocom Wireless. The Republican chair of the House of Representatives China Select Committee, Mike Gallagher, and the panel’s top Democrat, Raja Krishnamoorthi, in a…
By Tim Reid (Reuters) -Donald Trump will attend the Iowa State Fair this Saturday, his campaign announced on Tuesday, a move likely designed to steal the limelight from his White House rivals, especially Florida Governor Ron DeSantis who will visit the event on the same day. It had not been clear until now that Trump,…
(Reuters) -Take-Two Interactive Software forecast second-quarter net bookings below Wall Street targets on Tuesday, in a sign that spending on games remained under pressure amid inflationary pressures. U.S. spending on videogame content, including new games and character skins, was flat in the first half of the year, while console sales rose 23%, according to data…
By Kanishka Singh WASHINGTON (Reuters) – The U.S. House of Representatives Oversight Committee said on Tuesday it has opened a probe into the Federal Trade Commission’s (FTC) regulation of vision care over concerns about concentration in the insurance market. “The vision insurance market is structured to place only a handful of companies in charge of…
(Reuters) – Bumble shares fell 4% on Tuesday after the dating app owner forecast lackluster third-quarter revenue and posted a jump in expenses, sparking fears that stiff competition with Tinder-owner Match was affecting its business. The operator of Bumble, Badoo, and Fruitz apps said its total operating costs rose more than 7% in the June…
By Sarah N. Lynch WASHINGTON (Reuters) -A federal judge presiding over former President Donald Trump’s trial on charges of trying to overturn the 2020 election has ordered his attorneys and federal prosecutors to appear in court on Friday for a hearing to help determine how evidence can be used and shared in the case. U.S….
By Echo Wang and Anirban Sen NEW YORK (Reuters) – Amazon.com is in talks about joining other technology companies as a cornerstone investor in SoftBank Group Corp’s Arm Ltd ahead of its initial public offering (IPO), people familiar with the matter said on Tuesday. Amazon’s potential involvement in the IPO, which has not previously been…
