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May 24, 2022

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Best Buy earnings expected to fan inflation gloom gripping America’s retailers

Reuters
A person enters a Best Buy store in Manhattan, New York City, U.S., November 22, 2021. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register May 23 (Reuters) – Expectations are running low for electronics retailer Best Buy Co Inc’s (BBY.N) quarterly earnings on Tuesday after results from......

Philippine tech retailer Upson files for up to $103 mln IPO

Reuters
MANILA, May 23 (Reuters) – Upson International Corp (UIC), the largest retailer of personal computers and information technology products in the Philippines, said on Monday it has filed for an IPO of up to 5.4 billion pesos ($103.81 million). UIC plans to offer up to 986.8 million shares, including an......

Wall Street ends mixed, Tesla falls

Reuters
A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., May 19, 2022. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register Ross Stores plunges after cutting 2022 forecast May 20 (Reuters) – Wall Street ended mixed on......

Computer chip giant ASML places big bets on a tiny future

Reuters
VELDHOVEN, Netherlands, May 20 (Reuters) – ASML (ASML.AS), a semiconductor industry and stock market giant, has to think smaller. Or maybe bigger. It is building machines the size of double-decker buses, weighing over 200 tonnes, in its quest to produce beams of focused light that create the microscopic circuitry on......

Tesla cut from S&P 500 ESG Index, and Elon Musk tweets his fury

Reuters
May 18 (Reuters) – An S&P Dow Jones Indices executive told Reuters on Wednesday it has removed electric carmaker Tesla Inc (TSLA.O) from the widely followed S&P 500 ESG Index (.SPXESUP)because of issues including claims of racial discrimination and crashes linked to its autopilot vehicles, and Tesla CEO Elon Musk......

U.S. Treasury’s Yellen presses Poland on global minimum tax

Reuters
Treasury Secretary Janet Yellen testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled “The Financial Stability Oversight Council Annual Report to Congress,” in Dirksen Senate Office Building in Washington, D.C.,U.S., May 10, 2022. Tom Williams/Pool via REUTERS Register now for FREE unlimited access to Reuters.com Register WARSAW,......

EXCLUSIVE Facebook-owner Meta tells hardware staffers to prepare for cutbacks

Reuters
Small figurines are seen in front of displayed Meta logo in this illustration taken February 11, 2022. REUTERS/Dado Ruvic/Ilustration Register now for FREE unlimited access to Reuters.com Register May 11 (Reuters) – Facebook-owner Meta Platforms Inc (FB.O) is preparing cutbacks in its Reality Labs division, a unit at the center......

Apple hit with EU antitrust charge over mobile payments technology

Reuters
An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar//File Photo Register now for FREE unlimited access to Reuters.com Register BRUSSELS, May 2 (Reuters) – Apple faces a possible hefty fine and may......

China COVID hard line eats into everything from Teslas to tacos

Reuters
SHANGHAI, May 2 (Reuters) – When Tesla’s (TSLA.O) Shanghai plant and other auto factories were shut over the last two months by emergency measures to control China’s biggest COVID-19 outbreak, the burning question was how quickly they could restart to meet surging demand. But with the Shanghai lockdown grinding into......

Berkshire bought $51 billion in stock as Buffett combats supply chain

Reuters
OMAHA, Neb., April 30 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) dove into equity markets in the first quarter, spending more than $51 billion on stocks including a much larger stake in Chevron Corp (CVX.N). Berkshire, which Buffett has run since 1965, also said on Saturday quarterly operating profit......

Buffett’s Berkshire says operating profit nearly unchanged

Reuters
Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking/File Photo Register now for FREE unlimited access to Reuters.com Register OMAHA, Neb., April 30 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N)......

Warren Buffett’s Berkshire all-day meeting to kick off in Omaha

Reuters
OMAHA, Neb., April 30 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) holds its hotly-anticipated annual shareholder meeting in person on Saturday for the first time since before the pandemic, where shareholders will have the chance to quiz the so-called ‘Oracle of Omaha’ on everything from corporate governance, potential new......

Wall Street drops as investors dump Amazon following report

Reuters
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 4, 2022. REUTERS/Brendan McDermid/File Photo Register now for FREE unlimited access to Reuters.com Register Amazon tumbles after results and outlook fall short Apple slips after flagging supply problems Monthly inflation surged by......

Amazon results and outlook fall short as warehouse, fuel costs soar

Reuters
April 28 (Reuters) – Amazon.com Inc (AMZN.O) delivered a disappointing quarter and outlook on Thursday as the e-commerce giant was swamped by higher costs to run its warehouses and deliver packages to customers. Shares fell 9% in after-hours trade. After a long-running surge in sales during the COVID-19 pandemic, Amazon......

Apple sees growing supply problems, says demand in China affected

Reuters
OAKLAND, Calif., April 28 (Reuters) – Apple Inc (AAPL.O)executives on Thursday gave a disappointing forecast, citing rising supply constraints, problems with demand in China and deceleration in services, which the company sees as its growth engine. Shares were down 4.4% after the comments were made on a conference call, outweighing......

Exxon declares force majeure on Russian Sakhalin-1 operations

Reuters
The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. Standard & Poor’s Ratings Services said on April 26, 2016, it had cut Exxon Mobil Corp’s corporate credit rating to “AA+” from “AAA,” citing......

Chinese drone maker DJI halts Russia, Ukraine sales ‘to ensure products not used in combat’

Reuters
SHENZHEN, China, April 27 (Reuters) – Drone giant DJI Technology Co said it will temporarily suspend business in Russia and Ukraine to ensure its products are not used in combat, making it the first major Chinese firm to halt sales to Russia since Moscow invaded Ukraine in February. “DJI is......

Economic fears hit global equities, commods; Twitter lifts Wall St

Reuters
WASHINGTON/LONDON, April 25 (Reuters) – European stocks slid to a one-month low and commodity prices dropped on Monday on renewed concerns about rising interest rates and China’s sputtering economy, while Wall Street shares rose, reversing losses after Twitter agreed to be bought by billionaire Elon Musk. Fears over China’s COVID-19......

Mixed picture for Taiwan firms in COVID-hit China manufacturing hub

Reuters
TAIPEI, April 20 (Reuters) – Taiwan firms making chip and electronic components reported a mixed picture on Wednesday on work resumption in the eastern Chinese city of Kunshan after COVID-19 curbs, with some warning deliveries would be postponed until next month. China has put Shanghai under a tight lockdown since......

Apple, others face shipment delays as China COVID curbs squeeze suppliers – analysts

Reuters
An employee arranges Apple iPhones as customer shop at the Apple Store on 5th Avenue shortly after new products went on sale in Manhattan, in New York City, New York, U.S., March 18, 2022. REUTERS/Mike Segar Register now for FREE unlimited access to Reuters.com Register SHANGHAI/TAIPEI, April 15 (Reuters) –......

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