Author: Press Room
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Netflix, the streaming service that has been long criticised for a lack of transparency about how shows and films perform on its platform, will begin publishing a “comprehensive deep dive” into what its subscribers are watching twice a year. Its first report, released on Tuesday, provided viewer data on more than 18,000 titles, representing a total of nearly 100bn hours viewed, Netflix said. The Night Agent, a political thriller, was the most watched show on Netflix globally in the first half of 2023, with…
© Reuters. FILE PHOTO: ‘X’ logo is seen on the top of the headquarters of the messaging platform X, formerly known as Twitter, in downtown San Francisco, California, U.S., July 30, 2023. REUTERS/Carlos Barria (Reuters) -Elon Musk’s social media platform X’s 2023 ad sales are projected to fall to about $2.5 billion, Bloomberg News reported on Tuesday. Several companies including Comcast (NASDAQ:) and Walt Disney (NYSE:) paused their advertisements on the platform after Musk last month agreed with a post on X, formerly Twitter, that claimed Jewish people were stoking hatred against white people. Joe Benarroch, head of business operations…
© Reuters. FILE PHOTO: A Starbucks logo is seen at a Starbucks coffee shop in Jundiai, near Sao Paulo, Brazil, February 28, 2018. REUTERS/Nacho Doce/File Photo SAO PAULO (Reuters) – A Sao Paulo judge on Tuesday approved bankruptcy protection for SouthRock Capital, which runs all Starbucks (NASDAQ:) coffee shops and TGI Fridays restaurants in Brazil, according to a court filing. SouthRock had filed for protection from creditors in late October. SouthRock said in a statement that with the approval, it will continue to restructure operations with the aim of protecting employees, stores and customers. The bankruptcy protection process only includes…
© Reuters Investing.com — U.S. crude inventories declined more than expected last week, the API reported Tuesday, at a time when many are concerns about burgeoning non-OPEC production, pushing global crude supplies into surplus. , the U.S. benchmark, traded at $68.83 a barrel following the report after settling down 3.8% at $68.61 a barrel to remain on track for its longest weekly losing streak since 2018. fell 2.3M barrels for the week ended Dec. 8, compared with a build of 549,000 barrels reported by the API for the previous week. Economists were expecting an decline of about 1.5M barrels. The…
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As President Volodymyr Zelensky of Ukraine stood at a lectern in the Capitol on Tuesday pleading with senators to quickly approve more aid for his country’s war against Russian invaders, Senator Lindsey Graham, Republican of South Carolina, delivered a blunt message.“Here’s the problem,” Mr. Graham, a defense hawk who has been a champion of aiding Kyiv, recalled saying to Mr. Zelensky. “It’s got nothing to do with you.”Mr. Graham went on to explain the harsh political reality that has blocked congressional approval of more American help for his embattled nation: The dispute is not over the merits of that fight…
Guyana’s economy is booming along with oil production, but even some lofty GDP growth estimates aren’t high enough, according to President Irfaan Ali.”The projection of over 25% to 30% in the medium term, is I think, a very conservative number, because the value added component is going to drive that up even more,” he told Bloomberg TV on Monday.In September, the IMF forecasted that in the medium-term, the Guyanese economy would see real GDP grow on average by 20% per year between 2024 and 2028. That’s after growth of more than 60% in 2022.Meanwhile, oil production shot up to nearly 400,000…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.For over a century, Guyana depended on sugar as its main export. The small South American state has since found another sweet crop: light crude. US oil producer ExxonMobil has discovered 11.4bnbn barrels of oil since 2015, one of the largest finds this century. The oilfields of the offshore Stabroek block produce over 500,000 barrels daily.This could be one reason for Venezuela’s hostile interest in the Essequibo region of Guyana. President Nicolás Maduro believes his country can annex Essequibo, bringing Stabroek into…
BRASILIA (Reuters) – Brazil’s government has spearheaded an effort to raise $10 billion from multilateral and development banks to fund infrastructure projects to advance South American integration, seeking enhanced trade and reduced transportation time to Asia. Brazilian development bank BNDES is expected to allocate $3 billion within this effort, primarily for funding projects that Brazilian states and municipalities propose to connect to this network, the Planning Ministry said on Tuesday. Simultaneously, the Inter-American Development Bank (IDB) will contribute $3.4 billion, the Development Bank of Latin America (CAF) will provide $3 billion, and regional fund Fonplata will give $600 million for…
© Reuters Investing.com –The Dow closed higher Tuesday, led by tech as an ongoing slowdown in inflation kept hopes for an early rate cut next year alive just as the Federal Reserve readies its monetary policy decision slated for Wednesday. By 16:00 ET (21:00 GMT), the 30-stock had gained by 173 points or 0.5%, the benchmark gained 0.5%, and tech-heavy gained 0.70%. The main averages on Wall Street closed at fresh 52-week highs, with the S&P 500 touching its highest level since January 2022. Inflation continues to cool, keeping lid on Treasury yields Annual headline consumer price growth edged down…