By Medha Singh and Lisa Pauline Mattackal (Reuters) – Ether has promised to do better. It has promised to go to the next level, edging out crypto rivals and even outshining the godfather, bitcoin. But the clock’s ticking. The No.2 cryptocurrency was supposed to be weeks away from the “merge”, a transformative June upgrade of…
SINGAPORE/LONDON (Reuters) -HSBC Holdings reported a 27% fall in quarterly profit on Tuesday, as the Asia-focussed bank suffered from decreased revenues and slowing growth in Hong Kong. Europe’s largest bank with a market value of $130 billion posted a pretax profit of $4.2 billion for the first quarter ended March, versus $5.78 billion a year…
By Leika Kihara TOKYO (Reuters) -The Asian region faces a “stagflationary” outlook amid significant uncertainty with economic growth being lower than previously expected and inflation being higher, a senior International Monetary Fund (IMF) official said on Tuesday. While Asia’s trade and financial exposures to Russia and Ukraine are limited, the region’s economies will be affected…
By Tim Hepher LONDON (Reuters) – A British judge will on Tuesday rule whether Airbus must keep building A321neo jetliners for estranged Qatar Airways in a decision with implications for future multi-billion-dollar jet deals, as their public bust-up returns to London’s High Court. Airbus revoked the A321neo deal in January in retaliation for Qatar’s refusal…
By Dietrich Knauth (Reuters) -Walgreens Boots Alliance and Teva Pharmaceutical Industries Ltd ignored the health risks when they created new markets for opioids, a lawyer for the city of San Francisco told a judge on Monday during opening statements of the first trial to target manufacturers, distributors and pharmacies over the addictive pain medicines. Richard…
By Sheila Dang and Katie Paul (Reuters) – Twitter Chief Executive Parag Agrawal told employees on Monday that the future of the social media firm is uncertain after the deal to be taken private under billionaire Elon Musk closes. He was speaking to a town hall meeting that was heard by Reuters. “Once the deal…
By Chris Prentice and Marc Jones WASHINGTON/LONDON (Reuters) – European stocks slid to a one-month low and commodity prices dropped on Monday on renewed concerns about rising interest rates and China’s sputtering economy, while Wall Street shares rose, reversing losses after Twitter agreed to be bought by billionaire Elon Musk. Fears over China’s COVID-19 outbreaks…
By Katanga Johnson WASHINGTON (Reuters) – The U.S. Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra will tell congress on Tuesday that the agency will propose in a “timely fashion” a measure on open banking and small business lending data, according to testimony published on a Congressional website. During his second hearing as consumer watchdog…
(Reuters) – A Teamsters group, which represents roughly 7,000 Amazon.com Inc fulfillment center workers across Canada’s Alberta and the Northwest Territories, has filed an application with the Labor Board to hold a vote for union representation. The effort is Teamsters’ second attempt at forming a union at the Amazon site in Nisku, after a failed…
By Bansari Mayur Kamdar and Noel Randewich (Reuters) – The Nasdaq ended sharply higher on Monday, with growth stocks staging a late-day rally after Twitter agreed to be bought by billionaire Elon Musk. Twitter surged after announcing it would be bought by Musk in a deal that will shift control of the social media giant…
