By Shivansh Tiwary (Reuters) -Shares of FedEx sank 12% on Wednesday following dismal results and an outlook that prompted a slew of price-target cuts from Wall Street analysts and contributed to a late-day broad market selloff. FedEx is seen as a bellwether for worldwide economic trade. Investors on Wednesday said specific problems at the global…
By Lisa Baertlein and Arriana McLymore LOS ANGELES/NEW YORK (Reuters) -Roxanne Ross of Florida is one of a growing number of Americans dodging higher interest rates on credit cards by instead turning to “buy now, pay later” services as they shop for holiday merchandise. Ross has her eyes on the latest Apple AirPods for $249….
MOSCOW (Reuters) – A Russian court fined Alphabet’s Google on Wednesday 4.6 billion roubles ($50.84 million) for failing to delete so-called “fake” information about the conflict in Ukraine and other topics, the TASS news agency reported. Russia has been at loggerheads with foreign technology companies over content, censorship, data and local representation in a simmering…
By Mike Scarcella (Reuters) -Alphabet’s Google will pay $700 million and revamp its Play app store to allow for greater competition as part of an antitrust settlement with U.S. states and consumers, according to the company and filings in San Francisco federal court on Monday. Google will pay $630 million into a settlement fund for…
By Phil Stewart and John Davison MANAMA/DUBAI (Reuters) – The United States on Tuesday launched a multinational operation to safeguard commerce in the Red Sea as attacks by Iran-backed Yemeni militants forced major shipping companies to reroute, stoking fears of sustained disruptions to global trade. The Houthi militant group, which controls vast amounts of territory…
LONDON (Reuters) – Investors turned more bullish in December, buying stocks and reducing cash holdings on expectations the U.S. Federal Reserve has finished raising interest rates and the global economy will avoid a deep recession, BofA’s fund manager survey on Tuesday showed. Investors are at their most overweight equities relative to cash since January 2022,…
By Yuka Obayashi and Mariko Katsumura TOKYO (Reuters) -Nippon Steel said on Tuesday its $14.1 billion deal to buy U.S. Steel would help it tap into a new growth market, as concerns over the huge premium the world’s fourth largest steelmaker was paying sent its shares down as much as 6%. Nippon Steel has been…
(Reuters) -Former U.S. President Donald Trump faces a tangled calendar in the year ahead as he seeks the 2024 Republican nomination in the U.S. election while defending himself in four criminal and at least three civil trials, some related to his attempts to overturn his 2020 loss. Here are key dates in Trump’s legal and…
By Chris Prentice, Michelle Price and Mike Scarcella WASHINGTON (Reuters) -The U.S. Securities and Exchange Commission on Friday denied a petition by Coinbase Global seeking new rules from the agency for the digital asset sector, which the country’s largest crypto exchange then sought to challenge in court. The five-member commission, in a 3-2 vote, said…
By Michael Martina and David Brunnstrom WASHINGTON (Reuters) – U.S. Ambassador to China Nicholas Burns said on Friday he had started talks with Beijing on renewing a landmark scientific cooperation agreement, and while the deal needed to be modernized, prospects for a new one were uncertain. Controversy over the renewal of the U.S.-China Science and…
