By Svea Herbst-Bayliss BOSTON (Reuters) – Hedge fund Third Point LLC said it added new positions and bulked up on names it already owned when markets sold off earlier this year and said that Amazon is at an “inflection point” that should lead to a higher share price. The New York-based firm whose investments are…
By Blake Brittain (Reuters) – Apple Inc convinced a California federal judge on Wednesday to throw out a lawsuit accusing the tech giant of ripping off another company’s multiracial emoji and violating its intellectual property rights. Cub Club Investment LLC didn’t show that Apple copied anything that was eligible for copyright protection, U.S. District Judge…
By Leika Kihara and Gayatri Suroyo TOKYO/JAKARTA (Reuters) – Finance leaders of the world’s top 20 economies will debate the fallout from lingering geopolitical tensions, rising global inflation and tighter monetary policy in some regions at a two-day meeting kicking off on Thursday. But rising COVID cases overshadow the gathering with many ministers either attending…
MEXICO CITY (Reuters) -Walmart’s Mexico unit on Wednesday said its fourth-quarter net profit grew more than 5% from the year-earlier period with the gross margin helped by new business lines, even as higher expenses ate into earnings. Walmart de Mexico, the biggest retailer in Mexico, said its net profit rose to 13.3 billion pesos ($646.3…
By Danielle Kaye NEW YORK (Reuters) – Marriott and Hilton, two of the biggest U.S. hotel chains, told investors they expect people to resume packing their bags for business and leisure this year at rates not seen since before the pandemic. Hotel and other travel-related companies delivered rosy outlooks in this week’s quarterly results, citing…
By Matt Scuffham NEW YORK (Reuters) – Goldman Sachs will on Thursday update its main financial targets and detail growth plans for the next three to five years, hoping to win over investors yet to be convinced by its long-term strategy. Wall Street’s premier investment bank is reshaping itself after a turbulent decade during which…
By Jonathan Stempel (Reuters) – Charlie Munger, the longtime business partner of Warren Buffett, on Wednesday said it is “massively stupid” for tensions to escalate between the United States and China, and separately said cryptocurrency should have been banned, calling it “beneath contempt.” Munger, 98, spoke while fielding nearly two hours of questions at the…
By Herbert Lash NEW YORK (Reuters) -Oil and gold rose on Wednesday after NATO and the United States said Russia was increasing its troop build-up near Ukraine, while a dovish reading of minutes from the last Federal Reserve meeting helped stocks close mostly flat on Wall Street. Stronger-than-expected U.S. retail sales data and higher inflation…
By Elizabeth Culliford (Reuters) – Meta Platforms Inc CEO Mark Zuckerberg said in a Facebook post on Wednesday that he had promoted policy chief Nick Clegg into a larger role to lead on all policy matters, signaling less involvement from Zuckerberg in the area. “We need a senior leader at the level of myself (for…
By Jeffrey Dastin and Julia Love (Reuters) – The U.S. National Labor Relations Board said Wednesday that Amazon.com Inc and a group of New York workers have agreed tentatively on terms for a union election, and an organizer said the vote would take place late next month. The agreement lays out the election’s timing and…
