By Dawn Chmielewski and Lisa Richwine (Reuters) -Walt Disney Co Chief Executive Bob Iger on Wednesday accused Florida politicians of retaliating against the company and questioned the state’s interest in the entertainment conglomerate’s continued investment in Walt Disney World. Disney has accused Florida Governor Ron DeSantis and his supporters of “weaponizing” the state government to…
By David Shepardson WASHINGTON (Reuters) – The largest U.S. oil and gas trade lobby group said on Wednesday it believes sharp emissions cuts proposed by the U.S. Environmental Protection Agency (EPA) would result in the elimination of new internal combustion vehicles. But a California air regulator said the EPA plan “will benefit the climate, air…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Wall Street and world markets cheered below-consensus U.S. inflation on Wednesday, but they may not be so accommodating if Chinese inflation on Thursday also undershoots forecasts. Easing U.S. price pressures are a sign that inflation is on its…
By Chibuike Oguh NEW YORK (Reuters) – A gloomy forecast from vacation rental firm Airbnb weighed on travel-related stocks on Wednesday as an expected slowdown in bookings signaled an impending slump in travel demand with consumers seeking cheaper accommodation amid inflation and recession fears. Airbnb, which reported a 20% rise in quarterly revenue on Wednesday,…
By Shreyashi Sanyal, Shristi Achar A and Carolina Mandl (Reuters) – The Nasdaq led gains among Wall Street’s main indexes on Wednesday as a slightly lower-than-expected increase in April inflation raised hopes that the Federal Reserve’s interest rate hiking cycle is close to an end. The Labor Department’s Consumer Price Index (CPI) rose 4.9% in…
By Shariq Khan BENGALURU (Reuters) -Oil prices fell about 2% in a volatile trade on Wednesday, on track to end a three-day rally, as economic data suggested that the U.S. Federal Reserve might hike interest rates further in its bid to combat inflation. Brent crude dropped $1.48, or 1.9%, to $75.96 a barrel by 1:28…
By Jarrett Renshaw and Timothy Gardner WASHINGTON (Reuters) -The White House on Wednesday called on Congress to pass permitting legislation that would help speed up clean energy and fossil fuel projects, betting that the bipartisan measure may help end a standoff on the debt ceiling. The renewed push on permitting reform comes the day after…
By Akash Sriram (Reuters) – Shares of Rivian Automotive Inc rose nearly 6% on Wednesday as the company’s positive earnings stood out in a poor quarter for electric-vehicle startups, but analysts warned that stiff competition will be a hurdle in its path to profitability. The company looked set to add about $700 million to its…
(Reuters) -The New York Times Co missed estimates for quarterly revenue on Wednesday as a turbulent economy sapped digital subscriber growth and forced businesses to cut back on advertising spending, sending its shares tumbling 6%. High inflation and rising interest rates have prompted readers to rethink their paid subscriptions, hampering the publisher’s strategy of bundling…
By Lisa Pauline Mattackal (Reuters) – Private-credit firms are eyeing fresh opportunities from a potential borrowing squeeze in the United States as battered regional banks tighten lending after the turmoil in the sector, according to fund managers and investment strategists. About 46% of the banks surveyed by the Federal Reserve reported tightening lending standards during…
