By Roslan Khasawneh SINGAPORE (Reuters) – Oil prices eased on Thursday following weak U.S. payrolls data and some profit taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases. Brent crude fell 37 cents, or 0.4%, to $89.10 a barrel by 0127 GMT, after rising 31 cents on Wednesday….
By Akash Sriram and Subrat Patnaik (Reuters) – Google parent company Alphabet Inc advanced nearer to joining peers Apple Inc and Microsoft Corp in the elite $2 trillion market valuation club on Wednesday as the search giant’s shares surged more than 8% following a blowout quarterly report. Last trading at about $2,975, Alphabet’s stock was…
By Katanga Johnson WASHINGTON (Reuters) -Global stocks rallied on Wednesday to close higher as strong earnings from U.S. technology companies and OPEC+ plans for moderate oil output helped to counter jitters over weak economic reports. Investors also shrugged off the pace of central banks’ interest rate hikes. The STOXX index of 600 European companies rose…
By Elizabeth Culliford and Nivedita Balu (Reuters) -Facebook owner Meta Platforms Inc’s shares plunged more than 20% late on Wednesday as the social media company posted a weaker-than-expected forecast, blaming Apple’s privacy changes and increased competition for users from rivals like TikTok. Meta, which missed on Wall Street’s earnings estimates, said it faced hits from…
By Hari Kishan and Shrutee Sarkar BENGALURU (Reuters) – The U.S. dollar will reign supreme for at least another 3-6 months, a Reuters poll of strategists found, saying it will take a significant change in market expectations for Federal Reserve rate hikes to push it higher. Indeed, while the dollar was not expected to make…
By David Shepardson WASHINGTON (Reuters) – Major airlines, business and travel groups urged the White House on Wednesday to end COVID-19 pre-departure testing requirements for vaccinated international passengers traveling to the United States. Airlines for America, the U.S. Chamber of Commerce, International Air Transport Association, Aerospace Industries Association, the U.S. Travel Association and other groups…
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank is all but certain to keep policy unchanged on Thursday but may have to acknowledge that inflation could stay high for longer than it had projected, a signal that may be taken by some as a hint at a faster exit from…
By Julie Gordon and David Ljunggren OTTAWA (Reuters) -Bank of Canada Governor Tiff Macklem said on Wednesday there was uncertainty about how quickly inflation would come back down into the central bank’s comfort zone, due to the unique nature of the COVID-19 pandemic. Macklem, speaking to the Senate banking committee, also reiterated that interest rates…
By Supantha Mukherjee and Dawn Chmielewski STOCKHOLM/LOS ANGELES (Reuters) -Spotify on Wednesday forecast current quarter subscribers lower than Wall Street expectations, but executives sought to reassure investors that growth had not cratered even as it deals with the fallout from the controversy around The Joe Rogan Experience podcast. The company’s shares fell as much as…
(Reuters) -Qualcomm Inc on Wednesday forecast second-quarter revenue above Wall Street estimates amid soaring demand for its chips used in devices from phones to internet-run gadgets on the back of an uptick in 5G and cloud adoption. With 5G services rolling out across the United States and being increasingly adopted worldwide, Qualcomm is set to…