By Hari Kishan and Vivek Mishra BENGALURU (Reuters) – Most currencies will struggle to make any gains against the U.S. dollar in coming months, as monetary tightening expected from the Federal Reserve will provide the greenback with enough impetus to extend its dominance well into 2022, analysts said. Nearly two-thirds of 49 foreign exchange strategists…
SEOUL (Reuters) – Samsung Electronics Co Ltd on Friday said its October-December operating profit likely jumped 52% on-year to its highest fourth-quarter profit in four years, helped by solid demand for server memory chips and higher margins in chip contract manufacturing. The world’s largest memory chip and smartphone maker estimated fourth-quarter profit at 13.8 trillion…
WASHINGTON (Reuters) – The Federal Aviation Administration (FAA) said on Thursday that precautions adopted by AT&T and Verizon in order to deploy new 5G service offer fewer protections for airline flights than those used in France. The two wireless carriers this week agreed to adopt similar precautions to those in France and to delay the…
By Nivedita Balu and Akash Sriram (Reuters) -Rivian Automotive Inc’s stock briefly tumbled below its IPO price on Thursday in a selloff along with other electric vehicle makers as the race for market share intensifies and legacy companies ramp up their own production. Rivian fell as low as $75.13, below its November initial public offering…
(Reuters) – The New York Times Co said on Thursday it has agreed to buy subscription-based sports site the Athletic for $550 million in cash, as the 170-year-old newspaper looks to bolster its digital offerings. Founded in 2016, the Athletic had 1.2 million subscribers as of December, and covers more than 200 clubs and teams…
By Stephen Culp NEW YORK (Reuters) – Twenty months after a global health crisis hobbled the U.S. economy, recent data – along with a hawkish turn from the Federal Reserve – is implying the labor market is approaching a complete recovery from the pandemic. That recovery has contradictory implications for the stock market. On the…
HOUSTON (Reuters) – The United Steelworkers union (USW) offered a modified proposal to Exxon Mobil Corp on Thursday in a bid to end an eight-month lockout of workers at the company’s Beaumont, Texas, refinery, a union official said. The two sides met for about an hour on Thursday morning, said Bryan Gross, USW international representative….
By Chuck Mikolajczak NEW YORK (Reuters) – The U.S. dollar edged up on Thursday after a flurry of economic data, including weekly labor market numbers, in a more muted move a day after a spike higher following the release of minutes from the Federal Reserve’s December meeting. The dollar sharply pared losses of as much…
By Jessica Resnick-Ault NEW YORK (Reuters) – Oil prices rose more than 1% on Thursday, extending a rally from the previous session, on escalating unrest in OPEC+ oil producer Kazakhstan and supply outages in Libya. Global benchmark Brent crude futures rose $1.09, or 1.3%, to $81.80 a barrel by 1:06 p.m. EST (1806 GMT), their…
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Thursday said the U.S. economy is “closing in” on the U.S. central bank’s two goals of full employment and 2% inflation, at least in the short run. “There’s a difference in the short run and the long run…balancing those things as we move forward…
