Author: Press Room
© Reuters. FILE PHOTO: The logo of Amazon is seen, November 15, 2022. REUTERS/Pascal Rossignol/File Photo By Greg Bensinger (Reuters) – Amazon.com (NASDAQ:)’s top lawyer on Tuesday previewed the broad outlines of the company’s possible defense against the U.S. Federal Trade Commission’s antitrust lawsuit against the retailer, at a private companywide meeting. During the two-hour meeting, covering a range of topics, attorney David Zapolsky expressed confidence in Amazon’s ability to fend off the blockbuster lawsuit, calling the company’s tactics “absolutely defensible behavior,” according to a transcript of the meeting seen by Reuters. Along the way, he quoted Taylor Swift lyrics…
© Reuters. Investing.com– Oil prices fell to an over two-month low in Asian trade on Wednesday as signs of a surprise spike in U.S. inventories raised doubts over just how tight supplies would remain. Data from the showed that U.S. crude inventories surged 11.9 million barrels (mb) in the week to November 3, much more than expectations for a draw of 0.3 mb. The reading indicated that U.S. stockpiles were increasing amid slowing fuel demand, especially as the winter season limits travel. The API data heralds a similar reading from official – the release of which has been postponed to…
JHVEPhoto/iStock Editorial via Getty Images Teva Pharmaceuticals Industries (NYSE:TEVA) is expected to report higher Q3 earnings early Wednesday, with investors watching to see if the company revises its outlook as it did last quarter. Analysts, on average, estimate the Israeli drugmaker will post adjusted EPS of $0.61 on revenue of $3.74B. For Q3 2022, the company missed estimates for both the top and bottom lines, reporting adjusted EPS of $0.59 on revenue of $3.6B. Last quarter, Teva beat the Street on both adjusted EPS and revenue. Over the last two years, Teva has topped consensus estimates six times for adjusted…
Wisconsin’s Republican Assembly leader on Tuesday downplayed pressure he’s receiving from former President Donald Trump and fellow GOP lawmakers to impeach the state’s nonpartisan elections administrator, saying such a vote is “unlikely” to happen.Some Republicans have been trying to oust state elections administrator Meagan Wolfe, who was in her position during the 2020 election narrowly lost by Trump in Wisconsin. The Senate voted last month to fire Wolfe but later admitted the vote was symbolic and had no legal effect.Five Assembly Republicans in September introduced 15 articles of impeachment targeting Wolfe, a move that could result in her removal from…
A US-based salvage company is suing Colombia for half a prized shipwreck’s $20 billion treasure.The company claims it first found debris from the San José which sunk in 1708.But the Colombian government disputes the company’s claims and says the treasure is a national heritage. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app A sunken Spanish warship that lay undiscovered at the bottom of the ocean for nearly three centuries is spurring a modern-day legal battle over who has the rights to its billions of dollars worth…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The list of technology companies that have moaned about app store rules includes Coinbase, Match Group, Spotify and Meta. None have managed to upset the status quo set by Apple and Google. Epic Games’ legal fight is unlikely to change that. The value of the mobile app market is estimated at more than $100bn. Google and Apple take a cut of payments made for digital goods and subscriptions within apps listed on their stores. At Google this is 15 per cent for the…
© Reuters. A bank employee gathers Thai baht notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023. REUTERS/Athit Perawongmetha/File Photo By Devayani Sathyan and Vuyani Ndaba BENGALURU/JOHANNESBURG (Reuters) – Emerging market currencies will take well into next year to start making noticeable gains against a retreating U.S. dollar, despite a growing view the interest rate cycle has peaked, a Reuters poll of FX strategists showed. After getting battered for most of 2023, emerging market (EM) currencies have made modest gains against the dollar after the Federal Reserve held interest rates steady last week and data suggested the U.S. economy…
© Reuters. The eBay app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration (Reuters) – Ebay forecast fourth-quarter revenue and profit below Wall Street estimates on Tuesday and joined other e-commerce platforms in sounding the alarm on weaker-than-expected consumer spending. San Jose, California-based eBay (NASDAQ:)’s shares were down about 6.8% in trading after the bell. High interest rates and stubborn inflation across major economies in Europe as well as in the United States have further eaten into consumers’ discretionary budgets. Rising competition from the likes of Amazon (NASDAQ:), that sells a lot of consumer…
© Reuters. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Picture taken November 22, 2019. REUTERS/Angus Mordant/File Photo By Stephanie Kelly (Reuters) – Oil prices fell on Wednesday to their lowest in over three months, after industry data showed a steep build in supplies, while mixed Chinese economic data raised worries about global demand for crude. futures dropped 25 cents to $81.36 a barrel by 0001 GMT, while U.S. crude futures fell 35 cents to $77.02 a barrel. Both declined to the lowest since…
shaunl/E+ via Getty Images The offshore drilling market is seeing longer contract durations, rising dayrates and upstream customers asking to secure rigs years in advance, the CEOs of Valaris (NYSE:VAL) and Diamond Offshore Drilling (NYSE:DO) said in their respective post-earnings calls Tuesday, S&P Global Platts reported. Valaris (VAL) President and CEO Anton Dibowitz said he sees rising demand and “constrained” supply tightening the market, according to the report. “Supportive commodity prices and attractive breakevens for most offshore projects provide customers with the confidence to invest in long-cycle offshore projects,” Dibowitz said on the earnings call, as reported by S&P Global.…