Dollar down on profit taking but upbeat outlook remains

By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar slipped against most major currencies on Friday as traders booked profits after recent gains but the U.S. currency remained well-placed for further advances, supported by strong U.S. economic data that has prompted markets to dial back expectations for interest rate cuts. Data on Friday showed new […]

Citi fined $79 million by UK regulators over ‘fat-finger’ failures

By Tom Wilson LONDON (Reuters) -UK regulators fined Citigroup 61.6 million pounds ($78.5 million) for controls failings in its trading operations, one of the biggest sanctions for systems breaches, which in one case saw the Wall Street firm cause a sudden fall in European stocks. The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), […]

Google Invests 1 Billion Euros in Finnish Data Centre to Drive Ai Growth

HELSINKI (Reuters) – Alphabet-owned Google will invest a further 1 billion euros ($1.1 billion) into the expansion of its data centre campus in Finland to drive its artificial intelligence (AI) business growth in Europe, it said in a statement on Monday. In recent years, many data centres have been located in the Nordic countries because […]

Disney, Fox, Warner Bros Discovery sports-streaming venture named Venu Sports

(Reuters) – The sports-streaming service set to be launched by Walt Disney Co, Warner Bros Discovery and Fox Corp will be called Venu Sports and is on track for launch this fall, Pete Distad, the venture’s CEO, said on Thursday. Announced in February, the service will try to woo younger viewers who are not tuned […]

Walmart to cut jobs at headquarters, relocate others

By Siddharth Cavale (Reuters) -Walmart Inc announced on Tuesday that it plans to cut hundreds of jobs at its corporate headquarters and relocate a majority of its U.S. and Canada-based remote workforce to three offices, a shift in strategy after initially endorsing virtual work during the pandemic. “We are asking the majority of associates working […]

New Biden Tariffs on China’s Ev’s, Solar, Medical Supplies Due Tuesday

By Trevor Hunnicutt, Jeff Mason and David Shepardson WASHINGTON/SAN FRANCISCO (Reuters) -U.S. President Joe Biden is set to announce new China tariffs as soon as next week targeting strategic sectors, including a major hike in levies on electric vehicles (EVs), according to three people familiar with the matter. The full announcement, expected Tuesday, will maintain […]

Chinese EV Makers Set Sights On European Production

(Reuters) -Some Chinese carmakers are looking to set up manufacturing and assembly plants in Europe as they aim to ramp up sales of lower-cost cars in the region to rival their European competitors amid slowing demand at home. European imports of Chinese-made electric vehicles (EVs) have soared in recent years, raising concerns among domestic EV […]

Airbnb slumps as gloomy forecast fans slowdown fears

(Reuters) -Airbnb shares tumbled nearly 7% in afternoon trading on Thursday after weak forecasts for the second quarter stoked investor fears about slowing growth at the vacation rental firm and took the shine off a strong quarterly profit beat. The Easter holiday occurring in the first quarter rather than the second and currency-exchange impacts were […]

Tech talk

Dollar down on profit taking but upbeat outlook remains

May 24, 2024

By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar slipped against most major currencies on Friday as traders booked profits after recent gains but the U.S. currency remained well-placed for further advances, supported by strong U.S. economic data that has prompted markets to dial back expectations for interest rate cuts. Data on Friday showed new […]
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