Category: Business
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Televisa’s battered shares seesaw after third quarter lands in red
MEXICO CITY (Reuters) -Shares in Televisa, Mexico’s largest broadcaster, seesawed on Friday after the firm posted another quarter in the red and shed more customers than expected, losing as much as 5% in early trading before rising about 4%. Televisa shares were already down last week as traders anticipated more troubled earnings, which came Thursday…
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Analysis-US investment banks see early signs of revival in dealmaking
By Tatiana Bautzer and Lananh Nguyen NEW YORK (Reuters) – Major Wall Street firms said a dismal year of dealmaking appears to have hit a trough, and now some companies are looking to merge, offering hope that investment banking revenues could pick up after a disappointing third quarter. Dealogic data showed that globally, investment banking…
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Duke Energy to build end-to-end green hydrogen system in Florida
(Reuters) – Electric utility Duke Energy said on Friday it would build a project to create clean energy using an end-to-end system to produce, store and combust 100% green hydrogen, in Florida. The new system, a collaboration between Duke, construction management and consulting firm Sargent and Lundy, and General Electric’s unit GE Vernova, would be…
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Amazon rallies on cloud optimism as it chases Microsoft for AI business
By Aditya Soni (Reuters) -Amazon.com rose 7% on Friday on a pick up in growth at its most profitable cloud business as it aims for a larger share of the booming artificial intelligence market in a race with Microsoft. The e-commerce giant was on track to add almost $90 billion to its market capitalization based…
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Strong showing by Alphabet, Meta signal ad market rebound underway
By Samrhitha A and Aditya Soni (Reuters) -A rebound in the advertising businesses of Google, Meta and Snap signaled that the growing adoption of artificial intelligence was drawing marketers to digital platforms even in an uncertain economy. The three companies surpassed quarterly revenue expectations this week and each posted positive metrics for their ad businesses.…
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S&P 500, Nasdaq end sharply lower as Alphabet disappoints, Treasury yields bounce
By Stephen Culp NEW YORK (Reuters) – U.S. stocks tumbled in a broad sell-off on Wednesday as Alphabet shares slid after the Google parent posted disappointing earnings and as U.S. Treasury yields rose, reviving fears that interest rates could stay higher for longer. The benchmark S&P 500 index notched its fifth daily decline in six…
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Consumer Reports finds more lead and cadmium in chocolate, urges change at Hershey
By Jonathan Stempel NEW YORK (Reuters) -Consumer Reports said on Wednesday it had found “concerning” levels of lead and cadmium in a third of various chocolate products it tested recently, and called on Hershey to reduce the amounts of heavy metals in its chocolate. The non-profit consumer group said 16 of the 48 products from…
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Stocks struggle as soft earnings compound interest rate headache
By Lawrence Delevingne (Reuters) -Stocks slipped on Wednesday after the latest round of earnings prompted concern among investors over the economic outlook, adding to the angst over painfully high interest rates, while benchmark U.S. Treasury yields and the dollar ticked up. Shares of Alphabet Inc plunged nearly 10% after the Google parent reported disappointing cloud…
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Chevron target Hess beats quarterly profit estimates on production boost
By Seher Dareen (Reuters) -Oil and gas producer Hess Corp on Wednesday beat Wall Street estimates for third-quarter profit on higher production, days after agreeing to be bought by larger U.S. rival Chevron Corp for $53 billion. New York-based Hess’s net production was 395,000 barrels of oil equivalent per day (boepd) in the quarter and…
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U.S mortgage rates soar to highest in more than 23 years
(Reuters) – The interest rate on the most popular U.S. home loan last week jumped to the highest since September 2000, marking its seventh straight weekly increase and driving mortgage applications to a 28-year low, a survey showed on Wednesday. The 7.9% average contract rate for a 30-year fixed-rate mortgage during the week ended Oct.…