By Elizabeth Culliford and Nivedita Balu (Reuters) -Facebook owner Meta Platforms Inc’s shares plunged more than 20% late on Wednesday as the social media company posted a weaker-than-expected forecast, blaming Apple’s privacy changes and increased competition for users from rivals like TikTok. Meta, which missed on Wall Street’s earnings estimates, said it faced hits from…
By Hari Kishan and Shrutee Sarkar BENGALURU (Reuters) – The U.S. dollar will reign supreme for at least another 3-6 months, a Reuters poll of strategists found, saying it will take a significant change in market expectations for Federal Reserve rate hikes to push it higher. Indeed, while the dollar was not expected to make…
By David Shepardson WASHINGTON (Reuters) – Major airlines, business and travel groups urged the White House on Wednesday to end COVID-19 pre-departure testing requirements for vaccinated international passengers traveling to the United States. Airlines for America, the U.S. Chamber of Commerce, International Air Transport Association, Aerospace Industries Association, the U.S. Travel Association and other groups…
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank is all but certain to keep policy unchanged on Thursday but may have to acknowledge that inflation could stay high for longer than it had projected, a signal that may be taken by some as a hint at a faster exit from…
By Julie Gordon and David Ljunggren OTTAWA (Reuters) -Bank of Canada Governor Tiff Macklem said on Wednesday there was uncertainty about how quickly inflation would come back down into the central bank’s comfort zone, due to the unique nature of the COVID-19 pandemic. Macklem, speaking to the Senate banking committee, also reiterated that interest rates…
By Supantha Mukherjee and Dawn Chmielewski STOCKHOLM/LOS ANGELES (Reuters) -Spotify on Wednesday forecast current quarter subscribers lower than Wall Street expectations, but executives sought to reassure investors that growth had not cratered even as it deals with the fallout from the controversy around The Joe Rogan Experience podcast. The company’s shares fell as much as…
DALLAS (AP) — Airline and tourism groups are pushing to eliminate the government requirement that international travelers provide a negative test for COVID-19 before boarding a U.S.-bound plane. They believe the testing rule is discouraging people from booking international trips. They point to the United Kingdom, which eliminated a similar rule last month. Airlines for…
(Reuters) -Qualcomm Inc on Wednesday forecast second-quarter revenue above Wall Street estimates amid soaring demand for its chips used in devices from phones to internet-run gadgets on the back of an uptick in 5G and cloud adoption. With 5G services rolling out across the United States and being increasingly adopted worldwide, Qualcomm is set to…
By Helen Coster and Dawn Chmielewski (Reuters) – CNN President Jeff Zucker, whom industry insiders speculated would play a larger role when the network becomes part of Discovery, resigned on Wednesday, telling staff he failed to disclose a consensual relationship with a colleague. Zucker, 56, said in a memo that his relationship came to light…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar declined to a more than a one-week low on Wednesday after data showed a drop in U.S. private sector employment in January due to the increase in COVID-19 infections. However, the data is unlikely to prevent the Federal Reserve from hiking interest rates at the March…
