(Reuters) – U.S. President Joe Biden said the January consumer price index report issued on Thursday was a reminder that the budgets of Americans are under real strain, adding that his administration was using “every tool” it has to tackle the issue. “We have been using every tool at our disposal, and while today is…
By Lucia Mutikani WASHINGTON (Reuters) -U.S. consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years, fueling financial markets speculation for a 50 basis points interest rate hike from the Federal Reserve next month. The broad increase in prices reported by the Labor Department on Thursday was led…
By Danilo Masoni and Linda Pasquini (Reuters) -Delivery Hero saw almost a third of its market value wiped out on Thursday after 2022 earnings guidance fell short of market expectations and investors stampeded out of another stock previously considered a pandemic-era darling. Pandemic winners and high-flying tech companies, such as exercise bike maker Peloton Interactive…
FRANKFURT (Reuters) – Euro zone inflation will return to trend without significant policy tightening by the European Central Bank as pandemic-related bottlenecks in goods as well as labour are resolved, the ECB’s chief economist Philip Lane said on Thursday. Lane was defending his long-held view that the current, record-high inflation rate in the euro zone…
MOSCOW (Reuters) -Google faces a fine after Russia’s antitrust watchdog said the U.S. tech firm had breached rules related to suspending and blocking accounts on its YouTube video service. Russia’s Federal Antimonopoly Service (FAS) said on Thursday the fine would be determined during an administrative investigation, adding Google’s conduct had infringed users’ interests and restricted…
By Anshuman Daga SINGAPORE (Reuters) -Activist investor Quarz Capital Management said it is opposed to the terms of a proposed S$4.2 billion ($3.1 billion) merger of two Temasek-linked Singapore real estate investment trusts, saying the target firm was significantly undervalued. It is urging Mapletree North Asia Commercial Trust (MNACT) to negotiate an improved offer from…
By Brenna Hughes Neghaiwi ZURICH (Reuters) -Credit Suisse on Thursday capped a scandal-ridden year with a $2.2 billion quarterly loss and said 2022 earnings would be weighed down by restructuring and compensation costs. Though Switzerland’s second-biggest bank had flagged a large fourth-quarter loss, it was still steeper than expected. Analysts pointed to slides in revenue…
(Reuters) -Canadian business jet maker Bombardier Inc reported an adjusted quarterly profit on Thursday, helped by higher aircraft margins and cost reduction efforts. Bombardier’s business jet revenue decreased 24% to $1.87 billion on fewer deliveries of aircraft. However, Bombardier expects revenues to rise more than $6.5 billion in 2022 as higher-priced corporate planes account for…
(Reuters) -PepsiCo Inc beat analysts’ estimates for quarterly revenue by more than $1 billion on Thursday, helped by higher prices and robust demand for its snacks and sodas. The company’s shares rose 1.4% in premarket trading, even as it forecast full-year earnings below estimates, signaling the impact from runaway cost inflation. PepsiCo, which raised prices…
PARIS (Reuters) -Shares in the world’s largest cosmetics company L’Oreal dropped on Thursday as higher marketing spending put pressure on profitability, overshadowing forecast-beating sales and gains in market share. The company’s spending on advertising and promotions, closely watched by investors, grew over the second half of the year. That weighed on the annual operating margin…
