(Reuters) -Roblox Corp on Wednesday reported better-than-expected bookings for the fourth quarter as users spent more money on the online gaming platform during the holiday season, powering a 25% surge in its shares. Mostly popular with children thanks to games like “Jailbreak” and “MeepCity”, Roblox has been expanding into other countries and trying to make …
Roblox dazzles Wall St with bookings beat on holiday boost Read More »
WASHINGTON (Reuters) – Production at U.S. factories rebounded in January, but output in the prior month was much weaker than initially thought amid higher borrowing costs that are hurting the manufacturing sector. Manufacturing output increased 1.0% last month, the Federal Reserve said on Wednesday. Data for December was revised down to show production at factories …
SAO PAULO (Reuters) -Brazilian Finance Minister Fernando Haddad said on Wednesday that discussing the interest rate level, currently at a six-year high of 13.75%, is more important than debating inflation targets, mirroring the president’s dissatisfaction with the country’s borrowing costs. Speaking at an event hosted by BTG Pactual, he said that with the current level …
Brazil’s Haddad: discussing rate level ‘more important’ than inflation target Read More »
WASHINGTON (Reuters) – President Joe Biden’s nominee to run the Internal Revenue service pledged on Wednesday not to increase tax audit rates for American households and small businesses earning less than $400,000 a year as the agency implements $80 billion in new funding. Danny Werfel, a management consultant who was acting IRS Commissioner during the …
Biden’s IRS nominee says won’t raise audit rates on under-$400,000 earners Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales increased by the most in nearly two years in January after two straight monthly declines as Americans boosted purchases of motor vehicles and other goods, pointing to the economy’s continued resilience despite higher borrowing costs. Coming on the heels of news on Tuesday that monthly inflation …
U.S. retail sales post biggest gain in nearly two years Read More »
By Hannah Lang (Reuters) – The competitive threat of financial technology companies to big banks diminished over the past year as rising interest rates constricted funding, a new report from Moody’s Investor Service found. A decline in venture capital funding in 2022 particularly hurt fintech firms that rely on outside capital to fund their operations …
Fintech threat to big banks fizzled in 2022 as rates rose – report Read More »
TORONTO (Reuters) – Canadian home sales fell 3% in January from December and were down 37.1% on an annual basis, data from the Canadian Real Estate Association showed on Wednesday. The industry group’s Home Price Index fell 1.9% on the month and was down 12.6% annually, while the national average selling price was down 18.3% …
BOGOTA (Reuters) – Colombia and Panama have agreed to increase joint military operations in the Darien jungle region to tackle drug trafficking, illegal mining, and irregular migration. Traversing the Darien gap that connects Colombia and Panama has become a popular route to the United States in recent years for thousands of migrants, who must often …
Colombia, Panama agree to step up anti-crime operations in Darien border region Read More »
(Reuters) – The New York Federal Reserve said on Wednesday its barometer of manufacturing activity in New York State contracted for a third straight month in February, but not by as much as economists had expected as orders and shipments stabilized. The regional Fed’s “Empire State” index on current business conditions rose to -5.8 this …
New York factory activity contracts less than expected in February, NY Fed says Read More »
HELSINKI (Reuters) – Large subsidies and debt are not the right response to the U.S. Inflation Reduction Act, which should instead be an opportunity to reconsider the framework conditions for European industry, German Finance Minister Christian Lindner said on Wednesday. “We need fiscal discipline and the improvement of existing instruments,” Lindner told a news conference …
Big subsidies and debt not solution to U.S. inflation act – German finance min Read More »
