By Jonathan Stempel (Reuters) – Elon Musk on Wednesday urged a federal judge not to prevent him from publicly discussing a lawsuit accusing him of deceiving Tesla Inc shareholders by tweeting in 2018 about taking his electric car company private. In a filing with the federal court in San Francisco, Musk and Tesla said the…
MEXICO CITY (Reuters) – Mexican inflation likely slowed very slightly during the first half of April, but remained well above the central bank’s target, a Reuters poll showed on Wednesday, reinforcing bets the monetary authority will continue raising interest rates. The median forecast of 10 analysts surveyed was for inflation to reach 7.60%, marginally down…
(Reuters) – The U.S. economy expanded at a moderate pace from February through early April and there was little respite for businesses from high inflation and worker shortages, a Federal Reserve report showed on Wednesday. The latest anecdotal evidence from U.S. firms paints a picture of an economy which received a boost from falling COVID-19…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. home sales dropped to the lowest level in nearly two years in March as house prices raced to a record high, and could decline further with mortgage rates hitting 5%. The report from the National Association of Realtors on Wednesday also showed the drop in sales in February…
By Bansari Mayur Kamdar and Amruta Khandekar (Reuters) -The tech-heavy Nasdaq fell on Wednesday as streaming giant Netflix slumped after shedding subscribers for the first time in a decade, dragging down shares of high-growth companies set to report results. The benchmark S&P 500 and the blue-chip Dow, however, stayed buoyant on the back of upbeat…
PARIS (Reuters) – Carrefour said on Wednesday it was confident it would achieve the strategic goals set under its turnaround plan after its sales growth accelerated in the first quarter, thanks notably to strong growth in Brazil. Europe’s largest food retailer reiterated a target to generate free cash flow above 1 billion euros ($1.1 billion)…
(Reuters) – The U.S. Federal Reserve should proceed sensibly in raising interest rates as it waits to see if special factors pushing up inflation begin to recede, Chicago Federal Reserve President Charles Evans said on Wednesday. “I think timing for how monetary policy is responding can be sensible even though we’re currently experiencing very high…
By Jessica DiNapoli and Uday Sampath Kumar (Reuters) -Procter & Gamble Co raised its full-year sales forecast on Wednesday as consumer demand for cleaning and personal care products remained stronger than expected despite higher prices, sending its shares up more than 2%. P&G’s sales growth is at its strongest in at least 15 years, according…
By Eva Mathews and Nivedita Balu (Reuters) -Netflix Inc shares lost over a third of their value on Wednesday after the company reported its first drop in subscribers in a decade, leaving Wall Street questioning its growth in the face of fierce competition and post-pandemic viewer fatigue. The streaming pioneer’s shares fell 37% to $220.40…
WASHINGTON (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday that China should use fiscal space to stimulate consumption as it faces an economic slowdown prompted by renewed COVID-19 lockdowns. Georgieva said that China had ample fiscal and monetary policy space to counteract this, but it would be better to stimulate consumption….
