(Corrects analyst’s name in paragraph 8) (Reuters) – Shares of Roku Inc fell more than 20% in extended trading on Wednesday after the streaming platform forecast holiday-quarter revenue below Wall Street estimates as ad spending dries up. Record-high inflation and global geopolitical uncertainty from the war in Ukraine and U.S.-China tensions have led companies to…
DETROIT (AP) — New electric vehicle models from multiple automakers are starting to chip away at Tesla’s dominance of the U.S. EV market, according to national vehicle registration data. But numbers collected by S&P Global Mobility show that Tesla still controlled about 65% of the growing electric vehicle market during the first nine months of…
By Arriana McLymore and Siddharth Cavale NEW YORK (Reuters) – The $25-billion merger of Kroger and Albertsons could ultimately lead to lower prices for shoppers, at least according to a plan laid out Friday by Kroger’s CEO. In an interview with Reuters, Kroger Co CEO Rodney McMullen said the savings provided by the deal would…
SEOUL (Reuters) – South Korea’s import prices fell in annual terms for a fifth month in June and marked the steepest drop in more than eight years, central bank data showed on Thursday, an indication of easing inflationary pressure. The import price index was 15.7% lower than the same month the year before, after a…
By Echo Wang (Reuters) – The S&P 500 and Nasdaq closed weaker on Tuesday, the first day of seasonally slow August, ahead of U.S. jobs data and major companies’ earnings reports later this week. U.S. stocks ended July on a strong footing, as investors welcomed better-than-expected earnings. Support also came from hopes of a soft…
WASHINGTON (AP) — Long-term U.S. mortgage rates rose for the seventh straight week, climbing to their highest level in more than a decade. The average rate on a 30-year mortgage rose to 5.11% from 5% last week, mortgage buyer Freddie Mac reported Thursday. The last time it was higher was in April of 2010 when…
GENEVA (AP) — The head of the World Trade Organization predicted a “bumpy and rocky” road as it opened its highest-level meeting in 4-1/2 years on Sunday, with issues like pandemic preparedness, food insecurity and overfishing of the world’s seas on the agenda. At a time when some question WTO’s relevance, Director-General Ngozi Okonjo-Iweala hopes…
By Jacqueline Thomsen (Reuters) – Rudy Giuliani, onetime attorney for former U.S. President Donald Trump, admitted in a court filing late Tuesday that he made defamatory statements about a pair of Georgia election workers. Giuliani told a federal court in Washington that he does not dispute that comments he made about Wandrea “Shaye” Moss and…
By Brendan O’Brien (Reuters) -Former Minneapolis police officer Tou Thao was sentenced on Monday to 4-3/4 years in prison for aiding and abetting manslaughter in the 2020 killing of George Floyd, a Black man whose neck was pinned to the ground by another officer’s knee during a botched arrest. The sentence, meted out by Hennepin…
By David Milliken LONDON (Reuters) – Britain has a bigger inflation problem than the United States or the euro zone, with both large headline price rises and growing signs of persistence in underlying pressures, Bank of England policymaker Catherine Mann said on Wednesday. Mann, who has been the BoE’s keenest advocate of interest rate increases…
