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By Kanupriya Kapoor SINGAPORE (Reuters) – Asian equity markets fought for a footing on Friday, supported by an Amazon-led bounce in U.S futures, but oil’s rise to a seven-year high kept traders on edge over prospects that interest rates will rise to curb global inflationary pressures. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked…
By Ahmad Ghaddar and Alex Lawler LONDON (Reuters) – After a month in which oil prices surged 15% and geopolitical tensions seethed around the world, OPEC and its allies took a record-quick 16 minutes to decide that they would stick to their previously planned output increase. Apparently, there were no lengthy discussions at Wednesday’s meeting…
By Roslan Khasawneh SINGAPORE (Reuters) – Oil prices climbed on Friday, extending sharp gains in the previous session sparked by persistent supply concerns and as frigid weather cascades across the United States, threatening to further disrupt fragile oil supplies. Brent crude was up 16 cents, or 0.2%, to $91.27 a barrel by 0102 GMT, after…
By Danielle Kaye NEW YORK (Reuters) – Amazon pulled the veil off its sprawling advertising business for the first time on Thursday, revealing a business larger than that of Google’s YouTube. Amazon reported ad revenue of $9.7 billion for the fourth quarter, up 32% from last year, and $31 billion for the year. YouTube posted…
By Eva Mathews and Nivedita Balu (Reuters) -Mark Zuckerberg lost $29 billion in net worth on Thursday as Meta Platforms Inc’s stock marked a record one-day plunge, while fellow billionaire Jeff Bezos was set to add $20 billion to his personal valuation after Amazon’s blockbuster earnings. Meta’s stock fell 26%, erasing more than $200 billion…
By Daina Beth Solomon MEXICO CITY (Reuters) -An upstart union supported by international activists on Thursday won an election to represent General Motors workers in central Mexico, opening the door to the prospect of bigger pay rises, inspired by U.S.-backed labor reform. The election was one of the first under the new Mexican law, which…
(Reuters) – Shares of Snap and Pinterest surged in extended trading on Thursday following strong quarterly reports, and Twitter also jumped, marking a massive reversal from a wipeout in those social media stocks earlier in the day following a dismal forecast from Meta Platforms. Snap rocketed 62% higher after the company reported better-than-expected fourth-quarter user…
By Danilo Masoni, Akash Sriram and Noel Randewich (Reuters) -Shares of Facebook owner Meta plummeted 26% on Thursday in what could be the worst single-day wipeout in market value for a U.S. company, after the social media giant issued a dismal forecast, blaming Apple Inc’s privacy changes and increased competition. The huge drop, erasing over…
By Sheila Dang (Reuters) – Snap Inc reported better-than-expected fourth quarter revenue and user growth on Thursday, and provided a first quarter outlook that surpassed analyst estimates, sending its shares up 30% in trading after the bell. The results indicate Snap has avoided additional damage from Apple Inc’s privacy changes, which were introduced last year…
By Jonnelle Marte (Reuters) – The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) unveiled on Thursday long-awaited technical research and open-source code that could be used as the groundwork for a potential central bank digital currency. The research does not suggest that the U.S. central bank will move toward launching…
