By Lisa Richwine LOS ANGELES (Reuters) – Walt Disney Co’s streaming TV business will face scrutiny on Wednesday from investors who are re-evaluating the media industry’s aggressive shift from cable television to online video subscriptions. Netflix Inc shook Wall Street last month when the streaming video pioneer disclosed it lost subscribers in the first three…
By Tim Hepher and Padraic Halpin DUBLIN (Reuters) -Boeing Co was at the centre of a tug of war over the future of its newest jet on Monday as Germany’s Lufthansa ordered the 777X Freighter hours after an influential industry leader questioned the delayed programme’s viability. The U.S. planemaker last month pushed back first delivery…
By Caroline Valetkevitch NEW YORK (Reuters) – The S&P 500 ended below 4,000 for the first time since March 2021 and the Nasdaq dropped more than 4% on Monday in a selloff led by mega-cap growth shares as investors grew more concerned about rising interest rates. The Nasdaq closed at its lowest level since November…
By Paresh Dave OAKLAND, Calif. (Reuters) – Dating apps maker Match Group Inc sued Alphabet Inc’s Google on Monday, calling the action a “last resort” to prevent Tinder and its other apps from being booted off the Play store for refusing to share up to 30% of their sales. Match’s lawsuit is the latest to…
By Howard Schneider (Reuters) -Atlanta Federal Reserve President Raphael Bostic on Monday said he expects the U.S. central bank will deliver two or three more half-percentage-point interest rate hikes but won’t need to use anything bigger, noting some hopeful signs on inflation. “I would say that (a 75-basis-point rate hike) is a low probability outcome…
By Sinéad Carew NEW YORK (Reuters) – Stock indexes around the world fell sharply on Monday and the dollar reversed course after hitting a two-decade high while oil prices sank as concerns about slowing growth and a tightened lockdown in Shanghai pushed investors toward safer bets. Oil prices tumbled almost 6% on Monday as continued…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Proxy advisory firm Egan-Jones recommended that Kohl Corp shareholders elect four of the 10 board nominees nominated by activist investment firm Macellum Advisors as the department store considers selling itself. Egan-Jones said shareholders should back Jeffrey Kantor, Pamela Edwards, Francis Ken Duane and Jonathan Duskin, Macellum’s founder and…
MILAN (Reuters) – Italy’s Benetton family will change the name of the investment vehicle bidding to take control of Italian infrastructure group Atlantia after protests on behalf of the victims of the 2018 Genoa bridge disaster. The Benettons have teamed up with Blackstone to buy full control of Atlantia and in official documentation called the…
By Tommy Wilkes LONDON (Reuters) – Stocks fell heavily again on Monday and the dollar rocketed to a new two-decade high as worries about higher interest rates and a tightened lockdown in Shanghai deepened investors’ fears that the global economy is rapidly heading for a slowdown. After a bruising session on Friday in which U.S….
LONDON (Reuters) – BlackRock trimmed its exposure to Chinese stocks and government bonds, and Asian fixed income more widely, to neutral from a slight overweight, citing a worsening macroeconomic outlook as well as geopolitics. “China’s ties to Russia also have created a new geopolitical concern that requires more compensation for holding Chinese assets, we think,”…
