By Selena Li HONG KONG (Reuters) – Asian share markets followed Wall Street into the red on Wednesday as surprising strength in global surveys of services stoked fears that central banks would have to lift interest rates yet further and keep them up for longer. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.97%,…
By Jessica DiNapoli BOCA RATON, Fla (Reuters) – McCormick & Company Inc is looking to hike prices on its spices and hot sauces at retailers like Walmart Inc and Kroger Co but is getting “pushback” on the increases, CEO Lawrence Kurzius said in an interview with Reuters on Tuesday. Kurzius, speaking on the sidelines of…
By Andrew Chung and John Kruzel WASHINGTON (Reuters) -U.S. Supreme Court justices on Tuesday expressed uncertainty over whether to narrow a legal shield protecting internet companies from a wide array of lawsuits in a major case involving YouTube and the family of an American student fatally shot in a 2015 rampage by Islamist militants in…
(Reuters) -BlackRock Investment Institute raised U.S. short-term government bonds as well as Chinese and other emerging market stocks to “overweight” on Tuesday, saying investors were realizing that the U.S. Federal Reserve may have to become more aggressive in its campaign to subdue inflation. Macroeconomic data in recent weeks has pointed to a resilient economy with…
(Reuters) – Citigroup increased Chief Executive Officer Jane Fraser’s compensation by nearly 9% to $24.5 million for 2022, the lender said in a filing on Tuesday. Fraser’s total pay in 2021 was $22.5 million. (Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri)
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. U.S. economic activity indicators on Tuesday accelerated the relentless march higher in U.S. interest rate expectations and confirmed that, for financial markets at least, good news is most definitely bad news. Wall Street and world stocks had their…
By Mike Scarcella (Reuters) – A U.S. judge on Tuesday appointed two prominent U.S. law firms as co-leaders of consumer claims against Meta Platforms Inc’s Facebook, saying he hoped they would put aside their dispute over control of the antitrust case and work together. In a court order, U.S. District Judge James Donato in San…
By Siddharth Cavale (Reuters) -Walmart Inc struck a cautious note in its economic outlook for 2023 on Tuesday as the retail bellwether forecast full-year earnings below estimates and warned that cautious spending by consumers could pressure profit margins. Shares of the world’s largest retailer rose 0.5%. The company continues to battle price-hikes from many of…
By Dietrich Knauth (Reuters) – Revlon Inc on Tuesday announced a deal with a holdout faction of lenders, removing the largest remaining roadblock to a plan that would allow the cosmetics maker to exit from bankruptcy by April. With the latest settlement in place, Revlon now has the support of all of its major creditor…
(Corrects typo in penultimate paragraph) By Stephen Nellis (Reuters) -Amazon Web Services (AWS), the cloud computing arm of Amazon.com Inc, on Tuesday said it is collaborating with startup Hugging Face, a software development hub, to make it easier to carry out artificial intelligence work (AI) in Amazon’s cloud. While new generative AI services like chat-based…
