Business News

NEW YORK (Reuters) — A bounce in U.S. stocks that has defied a barrage of major earnings disappointments faces a key test this week, when the Federal Reserve’s next meeting could shed light on how long it will stick to the aggressive monetary policies that have crippled asset prices in 2022. …

(Reuters) — Goldman Sachs Group Inc’s economists said the U.S. Federal Reserve could bump up interest rates to as high as 5% by March 2023, 25 basis points above its earlier predictions, Bloomberg News reported on Sunday. Goldman Sachs Chief Executive Officer David Solomon last week said the …

(Reuters) — Elon Musk became Twitter Inc’s new owner on Thursday, firing top executives he had accused of misleading him and providing little clarity over how he will achieve the lofty ambitions he has outlined for the influential social media platform. The CEO of electric car maker Tesla Inc…

(Reuters) —  Wall Street is losing patience over Meta boss Mark Zuckerberg’s enormous and experimental bets on his metaverse project that helped drive up the company’s overall costs by a fifth in the third quarter. Investors rushed to dump Meta Platforms Inc’s stock after hours, p…

TOKYO (Reuters) — Oil prices rose on Thursday, extending a more than 3% rally in the previous session, boosted by record U.S. crude exports and a weaker U.S. dollar, though gains were capped in Asia due to lingering fears over slack demand in China. Brent crude futures gained 20 cents, or 0.2%, to …

(Reuters) — Apple Inc’s earnings report on Thursday may show the best quarterly sales growth for iPhones this year but it could still foreshadow a difficult holiday period as China demand slows and inflation hits multi-decade highs. Analysts expect iPhone sales to rise 11% in the fiscal fourt…

(Reuters) —  U.S. companies from tech giants Alphabet and Microsoft to GE and toymaker Mattel on Tuesday reported big slowdowns in growth or warned things were going to get worse, fanning recession fears and driving down stocks. The rash of disappointing results points to a host of problems plaguin…

SINGAPORE (Reuters) — Asian shares edged higher on Wednesday as investors clung to hopes that the pace of U.S. and global rate hikes will start to slow, though U.S. futures dropped after disappointing results from tech giants Alphabet and Microsoft. E-mini futures for the S&P 500 fell 1% in ear…

(Reuters) — “Is Twitter dying?” billionaire Elon Musk mused in April, five days before offering to buy the social media platform. The reality, according to internal Twitter research seen by Reuters, goes far beyond the handful of examples of celebrities ghosting their own accounts. Twit…

RIYADH (Reuters) — Top Wall Street bankers renewed their warnings about the world economy on Tuesday amid geopolitical tensions and steep interest rate hikes to tackle decades-high inflation. Goldman Sachs boss David Solomon said economic conditions would “tighten meaningfully from here”…