Jul 28, 2022
Russia fines WhatsApp, Snap and others for storing user data abroad

MOSCOW (Reuters) -A Russian court on Thursday fined Meta Platforms Inc's WhatsApp messenger, Snapchat owner Snap Inc and other foreign firms for their alleged refusal to store the data of Russian users domestically. Moscow has clashed with Big Tech over…

Jul 27, 2022
Cost of living crisis? Consumers keep spending for now

By Richa Naidu and Sachin Ravikumar LONDON (Reuters) - Consumer-focused firms are seeing no shortage of demand despite the soaring cost-of-living, prompting several to upgrade sales forecasts for the current year, though questions remain about how long that will last.…

Jul 22, 2022
Global slowdown fears darken as cost of living bites

By Jonathan Cable, Leika Kihara and Dan Burns LONDON/TOKYO/NEW YORK (Reuters) -The global economy looks increasingly likely to be heading into a serious slowdown, just as the highest inflation in a generation prompts central banks to aggressively reverse the ultra-loose…

Jul 22, 2022
AmEx raises revenue forecast on surging travel spending

By Mehnaz Yasmin and Manya Saini (Reuters) -American Express Co's quarterly card spending soared to a record as pandemic-weary travelers shrugged off rising airfare to throng airports, helping the company raise its annual revenue forecast and sending its shares 5%…

Jul 20, 2022
Tesla braces for earnings hit, but EV delivery outlook is key

(This July 19 story corrects timeframe in fifth paragraph from "a year ago" to "a quarter ago") By Hyunjoo Jin and Nivedita Balu (Reuters) - Tesla Inc's second-quarter results on Wednesday are expected to show the strains of China's COVID-19…

Jul 19, 2022
Wall Street closes sharply higher on strong corporate earnings

By Echo Wang (Reuters) - U.S. stocks closed with sharp gains on Tuesday as more companies joined big banks in reporting earnings that beat forecasts, offering respite to investors worried about higher inflation and a tightening Fed denting the corporate…

Jul 19, 2022
Cryptoverse: Holding your breath for a bitcoin bounce

By Lisa Pauline Mattackal and Medha Singh (Reuters) - If you're waiting for a bitcoin recovery, you may have to sweat it out for months. That's the conclusion of some technical specialists seeking method from the madness. Bitcoin's slide since…