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…
By Kanishka Singh WASHINGTON (Reuters) -The White House on Friday launched an office to prepare for and respond to potential pandemics, to be led by Paul Friedrichs, a military combat surgeon and retired Air Force major general who helped lead the Pentagon’s COVID response. The new Office of Pandemic Preparedness and Response Policy will also…
(Reuters) – Europe’s biggest hotel group Accor announced on Friday it has entered exclusive negotiations with Andera Partners and partner investors to acquire a 63% stake in Potel & Chabot and become the sole shareholder of the company. The transaction is expected to be completed in autumn, Accor said in a statement. Following this transaction,…
STOCKHOLM (Reuters) -OpenAI’s head of trust and safety Dave Willner is leaving the company, he said in a LinkedIn post on Friday, citing the pressures of the job on his family life and saying he would be available for advisory work. Chief Technology Officer Mira Murati will directly manage the team on an interim basis,…
By David Shepardson WASHINGTON (Reuters) -The U.S. House of Representatives on Thursday voted to pass legislation that would raise the mandatory commercial pilot retirement age to 67 from 65 and make other aviation reforms, with the Senate now set to consider its own measure. The vote in the Republican-led House was 351-69 to pass the…
