By Noah Browning LONDON (Reuters) -Oil rose on Friday and was heading for a second straight weekly gain, spurred largely by brightening economic prospects for China and resulting expectations of a boost to fuel demand in the world’s second-biggest economy. The lifting of COVID-19 restrictions in China is set to increase global demand to a…
By Shreyashi Sanyal and Amruta Khandekar (Reuters) – Nasdaq futures rose on Friday, after Netflix kicked off the earnings season for the growth sector on a positive note, but worries about a U.S. recession kept a lid on sentiment. Shares of Netflix Inc jumped 6.6% in premarket trading, after the streaming company added more subscribers…
By Jeffrey Dastin (Reuters) -Google’s parent Alphabet Inc said on Friday it is cutting about 12,000 jobs, or 6% of its workforce, as the technology sector reels from layoffs and companies stake their futures on artificial intelligence (AI). Alphabet’s shares rose almost 4% in pre-market trading. The cuts come at a delicate moment for the…
By Elizabeth Howcroft and Hannah Lang (Reuters) -U.S. crypto company Digital Currency Group (DCG) is at the center of the industry’s latest meltdown after the lending arm of one of its companies, Genesis, froze customer redemptions in November. Genesis Global Capital filed for U.S. bankruptcy protection from creditors on Thursday. Here is what we know…
By Jeffrey Dastin (Reuters) -Alphabet Inc is eliminating 12,000 jobs, its chief executive said in a staff memo shared with Reuters. The cuts mark the latest to shake the technology sector and come days after rival Microsoft Corp said it would lay off 10,000 workers. The job losses affect teams across the company including recruiting…
By Elaine Lies TOKYO (Reuters) – Japanese supermarket owner Hiromichi Akiba has built his bustling business through close ties with his neighbourhood – the reason, he says, he can’t make the price hikes on his wares that would allow him to give his workers a pay rise. Steep price increases on surging raw materials costs…
(Reuters) – Global equity funds secured weekly inflows for a second straight week in the week to Jan. 18 on hopes over waning inflationary risks and more measured rate hikes from the Federal Reserve, though recent data showed a drop in consumer spending. Refinitiv Lipper data showed global equity funds obtained $5.24 billion worth of…
By Elaine Lies TOKYO (Reuters) – Masami Fujino got his first raise in 20 years recently, but it’s still not enough to let the Tokyo day labourer treat himself to plain McDonald’s hamburgers as much as he used to. “Last year, I finally got a bit of a raise at one place,” said the 54-year-old,…
By Ankur Banerjee SINGAPORE (Reuters) – The U.S. dollar loitered around its seven-month lows on Friday as fears of an economic slowdown dented risk appetite, while the yen eased even as speculation swirls that the Bank of Japan (BOJ) will eventually move away from its ultra-easy policy. The dollar index, which measures the U.S. currency…
A look at the day ahead in European and global markets from Ankur Banerjee With the Year of the Rabbit upon us, the Asian markets shrugged off some of the skittishness seen overnight on Wall Street, attempting a bit of a risk-on rally. Thin liquidity will keep gains capped, though, and fears of an economic…
