By Stephen Culp (Reuters) – A look at the day ahead in markets from Stephen Culp, New York stock market reporter. Asian stocks are primed for a green Wednesday on the heels of a broad rally on Wall Street, as a slew of economic data suggested the Federal Reserve’s restrictive monetary policy is working as…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. labor costs increased at their slowest pace in a year in the fourth quarter as wage growth slowed, giving the Federal Reserve a boost in its fight against inflation. There was more encouraging news on inflation, with other data on Tuesday showing house price growth slowing considerably in…
(Reuters) -PayPal Holdings Inc said on Tuesday it is planning to cut 7% of its workforce, or about 2,000 employees, the latest in a string of fintech firms to be hit by the economic slowdown. “While we have made substantial progress in right-sizing our cost structure, and focused our resources on our core strategic priorities,…
By Daniel Wiessner (Reuters) – Amazon.com Inc illegally threatened to withhold raises and benefits from workers at two New York City warehouses if they voted to unionize, a judge with the National Labor Relations Board (NLRB) has ruled. In a decision issued on Monday, Administrative Law Judge Benjamin Green said Amazon supervisors told workers that…
By Lisa Baertlein and Shivansh Tiwary (Reuters) -United Parcel Service Inc on Tuesday said it would shelter 2023 profits from expected revenue declines as decades-high inflation, rising interest rates and recession fears weigh on the bellwether global transportation industry. The world’s biggest parcel delivery firm beat Wall Street’s profit forecast for the fourth quarter after…
By Sabrina Valle HOUSTON (Reuters) – Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are expected to break their own…
By Johann M Cherian and Shreyashi Sanyal (Reuters) – Wall Street rose on Tuesday as wage growth data indicated that the Federal Reserve’s aggressive approach to taming inflation was taking hold ahead of a decision by the central bank, while gains on the Dow were limited by weak earnings updates. U.S. labor costs increased at…
(Reuters) – Decades-high inflation and the impact of war in Ukraine have forced companies across Europe into lay-offs or hiring freezes. Here are some of the companies that have announced cuts: AIRLINES, AUTOS, TRAVEL * AIR FRANCE: France’s flagship carrier was in talks to shed nearly 300 ground-staff positions through voluntary redundancies, newspaper Le Figaro…
By Johann M Cherian (Reuters) – U.S. stock index futures fell on Tuesday as disappointing earnings and forecasts from bellwethers including Caterpillar, McDonald’s and Pfizer set the tone for the busiest earnings week this season, ahead of the outcome of the Federal Reserve’s rate-setting meeting. Fourth-quarter earnings season took center stage, with Caterpillar Inc down…
By Medha Singh and Lisa Pauline Mattackal (Reuters) – Big investors are dipping their toes into crypto waters again after a bumper month for bitcoin. Digital asset investment products, often favored by institutional investors, saw inflows of over $117 million last week, the biggest weekly increase since last July, according to data from asset manager…
