(Reuters) -Zoom Video Communications raised its full-year revenue forecast on Monday, helped by robust demand for its product portfolio as companies continue to adopt hybrid work models. The upbeat outlook suggests that Zoom’s efforts to incorporate artificial intelligence (AI) into its offerings and broaden its range of services have been successful, capitalizing on the rise…
(Reuters) – The Federal Reserve is far less likely to start cutting interest rates as soon as September, traders bet on Friday, after a U.S. government report showed employers created many more jobs and paid higher wages last month than expected. Nonfarm payrolls rose 272,000 in May, compared with the 185,000 expected, and average hourly…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The clock is ticking for Keith Gill, the stock influencer known on YouTube as “Roaring Kitty,” to lock in gains on his options position in GameStop as the company’s share price wobbles and the expiration date for the contracts draws closer. Shares of GameStop tumbled 12% on…
By Casey Hall and Sophie Yu SHANGHAI (Reuters) -Sales fell for the first time ever at China’s blowout mid-year e-commerce sales festival as consumers remain cautious about spending as the economy sputters, according to third-party data estimates released on Wednesday. Combined gross merchandise volume (GMV), a widely used proxy for e-commerce sales, reached 742.8 billion…
By Jonathan Stempel (Reuters) – The former senior Apple lawyer who avoided prison time after pleading guilty to insider trading must pay a $1.15 million fine in a related U.S. Securities and Exchange Commission civil case, a federal judge ruled on Tuesday. U.S. District Judge William Martini in Newark, New Jersey, said that while Gene…
By Mike Scarcella (Reuters) – Visa and Mastercard have agreed to pay $197 million to resolve a class action by millions of consumers accusing the financial payment companies of keeping cash access fees artificially high. The plaintiffs’ lawyers revealed the proposed accord on Wednesday in a filing in Washington, D.C., federal court. The settlement involves…
(This story contains strong language in paragraph 17) By Helen Coster, Gram Slattery and Alexandra Ulmer NEW YORK (Reuters) – Donald Trump stared down a bank of cameras inside Trump Tower on Friday and delivered a message fitting for both his legal and political battles: He is ready to fight. A day after a New…
(Reuters) – Russian President Vladimir Putin said on Friday that Ukrainian President Volodymyr Zelenskiy had no legitimacy following the expiry of his five-year term and this would raise a legal obstacle if Russia and Ukraine were to resume peace talks. With Ukraine still under martial law in the third year of Russia’s full-scale invasion, Zelenskiy…
(Reuters) -Costco Wholesale beat third-quarter revenue expectations on Thursday, as cash-strapped consumers flocked to its warehouses to grab low-priced groceries and discretionary items. The membership-only retailer saw resilient demand for its groceries and bakery items as consumers grappling with still-high cost of living preferred cooking more meals at home. With consumers trading down to shop…
(Reuters) -Health tech firm Medtronic beat Wall Street estimates for quarterly profit and revenue on Thursday, as a pickup in surgical volumes at hospitals lifted demand for its medical devices. Investor expectations around the financial performance of medical devices makers have grown lately, owing to a resurgence in demand as people, especially older adults, opted…
