TOKYO (Reuters) – Japanese Prime Minister Fumio Kishida said on Tuesday recent price rises in the country were driven largely by rising energy and global commodity costs. “It’s desirable to create an environment in which companies can pass on rising costs, raise wages, so that increasing consumption spurs economic growth and inflation,” Kishida told parliament….
By Cynthia Kim SEOUL (Reuters) – South Korea’s economy expanded at the fastest pace in 11 years in 2021 thanks to record exports, though a slowdown in capital investment cast a cloud over the outlook for growth this year. Tuesday’s data from the Bank of Korea showed gross domestic product (GDP) expanded 4.0% in 2021,…
By Svea Herbst-Bayliss (Reuters) -Peloton Interactive Inc’s stock surged on Monday after investment firm Blackwells Capital urged the exercise equipment maker’s board to fire its chief executive and put the company up for sale. The company’s shares climbed nearly 10% to close trading at $29.71 after having dropped 3.4% in premarket trading on a day…
By David Shepardson WASHINGTON (Reuters) -The U.S. Transportation Department (USDOT) announced on Monday it is issuing a new rule to make it easier for regulators to move faster to protect airline customers from unfair and deceptive practices. The new regulation, which was reported earlier by Reuters, will simplify and speed hearing procedures the department uses…
MEXICO CITY (Reuters) -Walmart’s Mexico unit is considering “strategic alternatives” to its operations in Central America, including a sale or joint venture, the company said on Monday. Walmart de Mexico, known locally as Walmex, runs about 860 stores in Central America, making up almost a fourth of its footprint. The region’s revenue totaled 30 billion…
OMAHA, Neb. (AP) — Contract talks between the biggest freight railroads and unions that represent 105,000 employees are headed to mediation this week after the unions declared an impasse following more than two years of negotiations. The unions said Monday that the contract talks had deadlocked because the railroads are still seeking concessions, even after…
(Reuters) – The Biden administration is readying a U.S. export rule used against Chinese telecoms equipment maker Huawei that could curb Russia’s access to global electronics supplies if President Vladimir Putin decides to invade Ukraine. While it is unclear how the rule could impact Russia, the restrictions hobbled Huawei’s smartphone business. Last month, the company…
By David Shepardson and Doina Chiacu WASHINGTON (Reuters) -Texas, Indiana, Washington State and the District of Columbia sued Alphabet Inc’s Google on Monday over what they called deceptive location-tracking practices that invade users’ privacy. “Google falsely led consumers to believe that changing their account and device settings would allow customers to protect their privacy and…
MENLO PARK, Calif. (AP) — Facebook’s parent company Meta on Monday said it has created what it believes is among the fastest artificial intelligence supercomputers running today. The social media giant said it hopes the machine will help lay the groundwork for its building of the metaverse, a virtual reality construct intended to supplant the…
(Reuters) – IBM beat fourth-quarter revenue expectations on Monday, bolstered by its cloud and consulting businesses as more enterprises turned to the IT giant to digitize operations. Revenue at the consulting business, a segment where IBM competes with Accenture Plc and SAP, rose 13.1% to $4.75 billion. The 110-year-old company has doubled down on the…
