By James Mackenzie JERUSALEM (Reuters) – U.S. President Joe Biden’s announcement that he would withhold arms supplies if Israel went through with its assault of Rafah drew a defiant reaction on Wednesday alongside unease at the possible longer term fallout from the open clash with Israel’s most vital ally. The warning came after months of…
By Niket Nishant and Manya Saini (Reuters) – Robinhood Markets’ suite of new products, including its credit card and futures trading platform, will be crucial to drive growth as market fluctuations and regulatory risks cloud the near-term outlook for its legacy business, analysts said. The expanded offerings show that the 11-year old trading app, best…
By Zaheer Kachwala (Reuters) -Roblox cut its annual bookings forecast on Thursday, fanning concerns about a slump in the videogame industry and sending its shares down 23% to mark their worst day in more than two years. The move signaled that people were dialing back on spending within Roblox’s video-gaming platform amid an uncertain economic…
(This May 8 story has been corrected to clarify that nights and experiences booked rose to 133 million, not $133 million, in paragraph 3) By Doyinsola Oladipo and Aishwarya Jain (Reuters) – Airbnb reported a higher quarterly profit on Wednesday but forecast second-quarter revenue below Wall Street expectations, sending shares of the vacation rental company…
By Clyde Russell SINGAPORE (Reuters) -It’s time for a reality check about decarbonising Asia’s vast and growing steel sector. Reducing the carbon footprint is possible, but only in stages, and over a far longer than ideal time period, and only if incentives to do so are available. Steel is the biggest industrial contributor to global…
By Suzanne McGee (Reuters) – Global X ETFs rolled out two new exchange-traded funds using options to generate additional income for investors, the firm said Wednesday. The new offerings, the Global X MLP & Energy Infrastructure Covered Call ETF and the Global X S&P Quality Dividend Covered Call ETF, will write call options on positions…
LAGOS (Reuters) – Microsoft is closing down its Africa Development Centre in the continent’s most populous nation Nigeria, which will lead to job losses, a spokesperson said on Wednesday. The centre, based in the commercial capital Lagos was opened in 2022 as part of Microsoft’s push to deliver high-end engineering and innovation solutions for the…
By Phil Stewart and Idrees Ali WASHINGTON (Reuters) -President Joe Biden decided to hold back delivery of high payload munitions to Israel because Washington believes a possible Israeli offensive in the Gaza city of Rafah could put civilians at risk, Defense Secretary Lloyd Austin said on Wednesday. Austin added that the administration was also reviewing…
By Yuvraj Malik (Reuters) -Ride-hailing company Lyft projected higher-than-expected gross bookings and core profit for the current quarter on Tuesday, driven by robust demand for its services and benefits from new user and driver features. It also reported first-quarter revenue and profit above expectations, sending its share up 5% in extended trading. Lyft has been…
By Akash Sriram and Abhirup Roy (Reuters) -Electric-pickup maker Rivian on Tuesday stuck to a 2024 production forecast well below Wall Street targets and reported a wider-than-expected first-quarter loss as it ended a weeks-long manufacturing halt. Rivian shares fell 6% in after-hours trading as the muted forecast drew questions from some analysts about demand for…