By Nivedita Balu and Aditya Soni (Reuters) – Microsoft Corp shares surged about 7% on Wednesday and lifted tech stocks after the company’s robust earnings eased fears of a slowdown in cloud computing and boosted confidence that artificial intelligence will become a major growth driver. The Redmond, Washington-based tech giant is set to add about…
By Mike Stone and Pratyush Thakur (Reuters) -General Dynamics Corp on Wednesday reported a 5.2% rise in quarterly revenue, boosted by strong demand for munitions amid geopolitical instability caused by Russia’s full scale invasion of Ukraine. Shares were down 5.5% to $210.40 during early trading in New York after Chief Executive Officer Phebe Novakovic warned…
By Gabriel Araujo SAO PAULO (Reuters) -Brazil’s inflation slowed more than expected and reached its lowest since late 2020 in the year to mid-April, a reading the government is likely to see as backing its calls for an interest rate cut even as the central bank maintains a hawkish tone. The country’s IPCA-15 inflation index…
BERLIN (Reuters) -The German government has raised its economic growth forecast for this year to 0.4% from a previously predicted 0.2%, according to its spring economic projections published on Wednesday and first reported by Reuters last week. “A gradual recovery is underway, despite a persistently difficult environment,” German Economy Minister Robert Habeck said. He expects…
By Jan Strupczewski BRUSSELS (Reuters) -The European Commission proposed on Wednesday that, under a reform of the EU’s fiscal rules, governments should ensure public debt falls by an individually negotiated amount over four years and stays on a downward path for a decade afterwards. The proposal, which sets no numerical target for how much the…
(Reuters) – The closure of two U.S. regional banks in March shook investor confidence in the banking industry and drove spooked customers to seek refuge in “too-big-to-fail” institutions or money market funds for higher yields. First Republic Bank said on Monday deposits plunged by more than $100 billion in the first quarter and it was…
By Victoria Waldersee BERLIN (Reuters) – Nearly one in five cars sold globally this year will be electric, with the prices of smaller EV models dropping to rival those of combustion engine cars in North America and Europe by the mid-2020s, the International Energy Agency (IEA) predicted on Wednesday. The agency raised its EV sales…
By Junko Fujita and Tom Westbrook TOKYO (Reuters) – Investors have dialled down wagers on a policy shift at the Bank of Japan this week, which has opened a window of calm that ironically affords governor Kazuo Ueda a chance to move quickly. For months investors have been doubting policymakers’ assurances that the BOJ isn’t…
(Reuters) -Rogers Communications Inc reported a better-than-expected quarterly profit on Wednesday, as gains in its wireless business helped offset weakness in its cable TV unit. Demand for Rogers’ 5G services has remained high, but increased cord-cutting hurt its cable business. The telecom giant’s wireless revenue grew 10% in the first quarter. Cable revenue fell 2%….
By Ludwig Burger (Reuters) -Switzerland’s Roche said first-quarter sales dropped 7% on falling demand for its COVID-19 therapies and tests, less steep than analysts had expected thanks to strong revenue growth from a new eye drug. Group revenue fell to 15.3 billion Swiss francs ($17.2 billion), the company reported on Wednesday, beating a market view…
