FRANKFURT (Reuters) – Euro zone inflation rose unexpectedly last month, likely making for more uncomfortable reading at the European Central Bank, which has consistently underestimated price pressures and come under fire for this from some of its own policymakers. Inflation in the 19 countries sharing the euro rose to 5% from 4.9% in November, a…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. employment increased less than expected in December amid worker shortages and job gains could remain moderate in the near term as spiraling COVID-19 infections disrupt economic activity. Nonfarm payrolls rose by 199,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. Data…
By Medha Singh and Shashank Nayar (Reuters) – GameStop Corp’s plans to expand its non-fungible tokens (NFTs) marketplace and partner with crypto firms boosted the video game retailer’s shares by 17.5% in premarket trading and also lifted other meme stocks. GameStop shares have been languishing for a while, like several other meme stocks, as interest…
By Huw Jones LONDON (Reuters) – Wall Street headed for a firmer start on Friday, though U.S. payroll figures before the opening bell will likely set the tone for the final session of a rollercoaster first week of trading in 2022 which saw new highs followed by heavy selling. Oil was headed for its best…
By Fergal Smith TORONTO (Reuters) – The Canadian dollar is expected to strengthen over the coming year as global economic recovery continues from the COVID-19 crisis but gains for the currency could be kept in check by Federal Reserve interest rate hikes, a Reuters poll showed. The median forecast in a Reuters poll was for…
By Julie Zhu and Clare Jim HONG KONG (Reuters) – Under pressure from authorities, Chinese property firm Kaisa Group Holdings Ltd is working furiously to come up with a feasible plan to repay wealth product investors, two sources with direct knowledge of the matter said. Kwok Ying Shing, chairman of the cash-strapped developer, has agreed…
SHANGHAI/HONG KONG (Reuters) -China will make it easier for state-backed property developers to buy up distressed assets of debt-laden private peers, a source with direct knowledge said on Friday, another step by policymakers to avert a liquidity crisis in the sector. State-owned developers acquiring distressed assets will not have those loans counted as debt under…
(Reuters) – GameStop Corp is launching a division to develop a marketplace for nonfungible tokens (NFTs) and establish cryptocurrency partnerships, a source familiar with the matter said on Thursday, boosting the video game retailer’s shares 27% in extended trading. GameStop declined to comment. The Wall Street Journal first reported the news citing people familiar with…
SHENZHEN, China (Reuters) – U.S. video gaming platform Roblox Corp., has taken down its Chinese app that fronted its expansion efforts into the country, telling Reuters it was part of “a number of important transitory actions” as it builds its next version. The LuoBuLesi app, which Roblox launched in July in partnership with an affiliate…
By Ron Bousso LONDON (Reuters) – Royal Dutch Shell said it will pursue its $7 billion share buyback programme after selling its U.S. shale business “at pace” as its liquefied natural gas (LNG) production was hit once again by unplanned outages. Fuel sales were also hit by a slowdown in global economic activity due to…
