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How the other half lives: luxury companies thrive
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Fed’s aggressive rate-hike path bolstered by new inflation, wage data
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Zelenskiy says Ukraine ready to ship grain, awaits signal to start
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‘WAGatha Christie’ libel trial ends in defeat for devastated Vardy
Analysis-Amazon has a Prime edge over Walmart: richer customers
Date: July 29, 2022
By Siddharth Cavale NEW YORK (Reuters) – Amazon Inc’s strong quarterly performance on Thursday offered another sign of a split in shopping patterns between more- and less-affluent Americans dealing with the highest inflation in four decades. On Monday, rival Walmart Inc, which caters to a more cost-conscious customer, slashed its second-quarter profit forecast, blaming a...
Dozens of Ukrainian POWs killed in missile strike
Date: July 29, 2022
By Max Hunder and Pavel Polityuk ODESA, Ukraine/KYIV (Reuters) -Dozens of Ukrainian prisoners of war appeared to have been killed when a prison building was destroyed in a missile strike on Friday, with Moscow and Kyiv accusing each other of carrying out the attack. The deaths, some of which were confirmed by Reuters journalists at...
Twitter’s battle with Elon Musk over $44 billion deal heads to Oct. 17 trial
Date: July 29, 2022
By Tom Hals WILMINGTON, Del. (Reuters) -Twitter’s bid to hold Elon Musk to his $44 billion deal for the social media platform will head to a five-day trial beginning Oct. 17, and Musk must reveal by the end of Friday any legal claims he has against the company, a Delaware judge ruled. Musk, the world’s...
Sony trims profit forecast after games business falters
Date: July 29, 2022
By Sam Nussey TOKYO (Reuters) -Sony Group Corp trimmed its profit forecast on Friday after a weak first quarter for its PlayStation business, which it blamed on waning consumer interest due to a lack of new games and an easing of COVID-19 constraints dampening stay-at-home gaming. Sony said the business would draw support, however, from...
U.S. majors Exxon, Chevron post blowout earnings, ramp up buybacks
Date: July 29, 2022
By Sabrina Valle (Reuters) – The two largest U.S. oil companies, Exxon Mobil Corp and Chevron Corp, posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European majors a day earlier. The U.S. pair, along with UK-based Shell and France’s TotalEnergies, combined to earn nearly...
Wall Street extends July rebound, led by tech, energy
Date: July 29, 2022
By Lawrence Delevingne (Reuters) – U.S. stocks extended their July rebound on Friday, with the dollar and some Treasury yields dipping, as traders acted on positive corporate news despite increased labor costs and other inflation indicators. Positive forecasts from Apple Inc and Amazon.com Inc showed resilience https://www.reuters.com/markets/europe/amazon-apple-raise-hopes-investors-brace-slowdown-2022-07-29 in mega-cap companies to survive an economic downturn,...