By Manya Saini (Reuters) -American Express kept its annual profit forecast unchanged despite a record spending on its credit cards by consumers in the second quarter, disappointing investors and sending its shares down 5% on Friday. Even though resilient spending on travel and entertainment encouraged company executives to remain optimistic going into the second half…
By Olena Harmash KYIV (Reuters) -Russia pounded Ukrainian food export facilities for a fourth day in a row on Friday and practised seizing ships in the Black Sea in an escalation of what Western leaders say is an attempt to wriggle out of sanctions by threatening a global food crisis. The attacks on Ukraine’s grain,…
MEXICO CITY (Reuters) – Mexico’s headline inflation likely eased in the first half of July to its lowest level in more than two years, but still remained above the central bank’s target, a Reuters poll showed Friday, reinforcing bets the bank will hold its key rate longer. The median forecast of 10 analysts see annual…
By Luc Cohen NEW YORK (Reuters) -An American couple accused of laundering billions of dollars worth of cryptocurrency stolen from the 2016 hacking of virtual currency exchange Bitfinex have entered into a plea agreement, court records showed on Friday. Heather Morgan, who used the hip-hop alias “Razzlekhan” to push her music online, and her husband…
By Amruta Khandekar and Shreyashi Sanyal (Reuters) -European shares rose on Friday to end the week higher, while German stocks lagged as SAP’s bleak revenue forecast weighed on the tech sector, which also recorded its biggest weekly drop this year. SAP fell 4.2% after the business software maker trimmed its full-year outlook for key cloud…
(Reuters) -Interpublic lowered annual growth expectations on Friday and posted a fall in quarterly revenue as clients in the technology sector slashed marketing budgets, sending the advertising group’s shares down more than 12%. Rival Omnicom also posted weak earnings for the quarter, underscoring the pressure on ad agencies as economic uncertainty prompts businesses to tighten…
NEW YORK (Reuters) – Investors poured $3.6 billion in fresh money into global hedge funds in the second quarter, data provider HFR said on Friday, helping drive the industry’s assets up. In the first half of the year, the industry lured $12.64 billion, HFR showed. The positive net money inflow so far this year comes…
By David Shepardson and Doina Chiacu WASHINGTON (Reuters) – U.S. Commerce Secretary Gina Raimondo said on Friday she still plans to visit China later this year despite the reported Chinese hacking of her department’s emails. Raimondo was among a group of senior U.S. officials whose emails were hacked earlier this year by a group Microsoft…
By Foo Yun Chee BRUSSELS (Reuters) – Dutch online marketplace OLX is helping EU antitrust enforcers in their investigation into Facebook owner Meta Platforms, the Naspers unit said on Friday. The European Commission has accused Meta of gaining an unfair advantage by tying its classified advertisements service Marketplace with its social network Facebook and imposing…
By Rajesh Kumar Singh CHICAGO (Reuters) – Consumers continue to splurge on air tickets. But travel patterns are shifting so often, partly due to work-life changes wrought by the pandemic, that airlines must constantly adapt on booking plane seats and remain cautious in forecasting demand and revenue. That situation can result in lost revenue…