By Sinéad Carew (Reuters) – Shares in Amazon.com closed down 4.2% on Wednesday, leading declines in the S&P 500 consumer discretionary sector while video streaming companies Warner Bros Discovery and Paramount Global rallied. Amazon shares deepened losses after a Wall Street Journal report said the online retailer and video streamer is planning an advertising-supported tier…
(Reuters) – GameStop posted its fourth consecutive fall in quarterly revenue on Wednesday and missed market estimates, as consumers dialed back non-essential spending in an uncertain economy. The company reported revenue of $1.24 billion for the quarter ended April 29, compared with analysts’ average estimate of $1.36 billion, according to Refinitiv. (Reporting by Samrhitha Arunasalam…
By Doyinsola Oladipo NEW YORK (Reuters) -Hotel room rates in the U.S. and Europe are rising and may get even more expensive as supply has failed to keep up with demand, industry executives said. U.S. hotel room supply is barely growing as tighter lending standards from regional banks make it harder for developers to secure…
BOGOTA (Reuters) – Colombia’s congress should approve health, labor and pension reforms, President Gustavo Petro said on Wednesday, as the lower house weighed whether to shelve the health bill, which would be a major legislative defeat for leftist who campaigned on improving the beleaguered system. “We ask, with all due respect…that they approve the reforms,…
WASHINGTON (Reuters) -Britain wants to put its economic ties with the United States on the same footing as the two countries’ defence and security cooperation to help both counter global threats, Prime Minister Rishi Sunak will tell President Joe Biden this week. Having left the European Union, Britain is seeking to further align itself with…
By Karen Brettell NEW YORK (Reuters) – The dollar edged higher against the yen on Wednesday as investors awaited U.S. inflation data for May and the Fed’s interest rate decision next week, while the Canadian dollar jumped after the Bank of Canada hiked rates. The U.S. central bank is expected to hold rates steady next…
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices climbed about 1% on Wednesday as Saudi Arabia’s plans for deep output cuts more than offset demand woes stemming from rising U.S. fuel stocks and weak Chinese export data. Brent crude futures settled 66 cents, or 0.9%, higher at $76.95 a barrel, while U.S. West Texas Intermediate crude…
By Jeff Mason and Kanishka Singh WASHINGTON (Reuters) – U.S. President Joe Biden has urged both sides in the West Coast ports labor dispute to continue collective bargaining, White House press secretary Karine Jean-Pierre said on Wednesday, adding acting Labor Secretary Julie Su was actively engaging with the parties. The largest terminal at Southern California’s…
PARIS (Reuters) – French President Emmanuel Macron appointed on Wednesday his former foreign minister as personal envoy to Lebanon just a year after he stepped down and having previously not been able to make any inroads in the political deadlock in the country. Macron led international efforts after a massive explosion that killed more than…
By Nevzat Devranoglu and Huseyin Hayatsever ANKARA (Reuters) -Turkey’s lira plunged 7.6% to a record low on Wednesday in its biggest selloff since the historic 2021 crash, and traders called it a “strong signal” that Ankara is moving away from state controls toward a freely traded currency. The lira has come under increasing pressure since…
