By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) -Netflix Inc co-founder Reed Hastings stepped down as chief executive of the company that upended Hollywood by delivering movies and TV shows online, handing the reins to longtime partner and co-CEO Ted Sarandos and chief operating officer Greg Peters. Shares of Netflix rose 6.1% to $335.05…
By Takahiko Wada and Leika Kihara TOKYO (Reuters) – Japan’s core consumer prices in December rose 4.0% from a year earlier, double the central bank’s 2% target and hitting a fresh 41-year high, data showed on Friday, adding to recent growing signs of mounting inflationary pressure. The data will likely keep alive market expectations that…
By Victoria Waldersee HALLE, Germany (Reuters) – Tesla’s German Gruenheide plant still has some ramping up to do, the economy minister of the state the factory is located in said on Thursday, adding that production should be sped up somewhat to reduce customer waiting times. “That has to grow up a bit more,” Brandenburg’s Economy…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Japanese inflation grabs the spotlight in Asia on Friday, with investors looking for clues on what the Bank of Japan (BOJ) might do at its next policy meeting after surprising markets this week by standing pat on policy….
By Jessica DiNapoli and Uday Sampath Kumar (Reuters) – Tide detergent maker Procter & Gamble Co raised its full-year sales forecast on Thursday and said it plans to continue raising prices despite a drop in sales volumes, warning that high commodity costs were pressuring profits. P&G’s sales volumes fell 6% in its second quarter ended…
By Jessica DiNapoli and Richa Naidu NEW YORK/LONDON (Reuters) – Top advertisers on Twitter slashed their spending after Elon Musk’s takeover, according to estimates compiled for Reuters by research firm Pathmatics, in the latest shock to the company’s dominant revenue source. Fourteen of the top 30 advertisers on Twitter stopped all advertising on the platform…
By Helen Coster and Jack Queen (Reuters) -Fox Corp Chairman Rupert Murdoch will be questioned under oath on Thursday and Friday in a defamation lawsuit over his network’s coverage of unfounded vote-rigging claims during the 2020 U.S. presidential election. Election technology company Dominion Voting Systems says Fox News Network amplified false claims that its machines…
By Jamie McGeever ORLANDO, Fla. (Reuters) – If the Federal Reserve is to ease U.S. monetary policy this year, it may be a backdoor loosening around its quantitative tightening channel rather than lower interest rates. The catalyst? The U.S. debt ceiling. As yet another debt ceiling crisis looms – potentially the most rancorous to date…
(Reuters) -Kushner Companies on Thursday denied informing Veris Residential Inc it was not interested in pursuing an acquisition of the multifamily rental property developer. Real estate investment trust (REIT) Veris said on Wednesday Kushner Cos had ended talks to acquire it, after months of chasing the company with sweetened buyout offers. “At no time did…
LONDON (Reuters) -British supermarket chains Asda and Morrisons have settled a multi-million pound lawsuit against Mastercard over fees charged to retailers. The two companies reached an agreement with the global payments processor and withdrew their cases on Tuesday, according to an order published by the Competition Appeal Tribunal (CAT). The terms of the settlement are…
