Lawmakers wondered aloud Thursday how a showdown between two federal agencies over the rollout of new high-speed wireless service reached crisis proportions last month, but they were short on answers to a dispute that raised concerns about interference with key equipment on some planes. Some flights have been canceled since Verizon and AT&T turned on…
(Reuters) – Shares of Snap and Pinterest surged in extended trading on Thursday following strong quarterly reports, and Twitter also jumped, marking a massive reversal from a wipeout in those social media stocks earlier in the day following a dismal forecast from Meta Platforms. Snap rocketed 62% higher after the company reported better-than-expected fourth-quarter user…
NEW YORK (AP) — Amazon reported Thursday that its profits nearly doubled in the final three months of last year, even as it contended with surging costs tied to a snarled supply chain and labor shortages. The Seattle-based online behemoth also said it is raising its annual prime membership fee in the U.S. to $139…
DETROIT (AP) — Ford Motor Co. reversed a loss and rode some big accounting changes to post a $17.94 billion net profit last year, even as it battled computer chip shortages that caused factory slowdowns and vehicle shortages. U.S. sales for the Dearborn, Michigan, automaker fell 7% for the year over depressed 2020 numbers. But…
NEW YORK (AP) — The abrupt ouster of CNN chief executive Jeff Zucker because of a workplace relationship has left some prominent employees feeling angry and uncertain about the direction of their network at a pivotal moment. The company is about to undergo a corporate ownership change, launch a paid streaming service and replace its…
By Danilo Masoni, Akash Sriram and Noel Randewich (Reuters) -Shares of Facebook owner Meta plummeted 26% on Thursday in what could be the worst single-day wipeout in market value for a U.S. company, after the social media giant issued a dismal forecast, blaming Apple Inc’s privacy changes and increased competition. The huge drop, erasing over…
By Sheila Dang (Reuters) – Snap Inc reported better-than-expected fourth quarter revenue and user growth on Thursday, and provided a first quarter outlook that surpassed analyst estimates, sending its shares up 30% in trading after the bell. The results indicate Snap has avoided additional damage from Apple Inc’s privacy changes, which were introduced last year…
By Jonnelle Marte (Reuters) – The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) unveiled on Thursday long-awaited technical research and open-source code that could be used as the groundwork for a potential central bank digital currency. The research does not suggest that the U.S. central bank will move toward launching…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The euro surged to a three-week high against the U.S. dollar on Thursday after comments from European Central Bank President Christine Lagarde fuelled expectations of faster policy tightening, as she focused on the prospect of euro zone inflation overshooting. She also did not repeat previous comments that interest rates…
(Reuters) – American Express Co said on Thursday it would ask its New York employees to work from office at least once a week, starting March 1, according to a memo posted on the company’s website. (Reporting by Sohini Podder in Bengaluru; Editing by Anil D’Silva)
