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Netflix stock is getting crushed after the earnings report. Is it time to buy or get out of the way?
LONDON (Reuters) -Low-cost carrier easyJet said it was "in the right place" to meet pent-up demand for summer flights, with bookings above pre-pandemic levels in the last 10 weeks and sold ticket yields for the fourth quarter 15% higher than in 2019. Chief Executive Johan Lundgren said easyJet was "absolutely focused" on strengthening its operational resilience for the summer after it had to cancel flights at Easter because of crew absences. Speaking after the British company reported a first-half loss of 545 million pounds ($675 million), in line with guidance, Lundgren said easyJet was managing the fastest post-pandemic ramp-up of any airline.
ST. PAUL, Minn. (AP) — A proposal to legalize sports betting survived a test Thursday amid lawmakers' efforts to pull together the pieces of a package to spend Minnesota's enormous budget surplus with just days remaining in the legislative session. The bill, authored by Republican Sen. Roger Chamberlain, of Lino Lakes, would allow tribal casinos and the state's two horse racing tracks to offer sports betting on mobile devices and in-person. It differs from its House counterpart, which would only
(Reuters) -Canada Goose Holdings Inc on Thursday forecast annual sales and profit above Wall Street expectations on hopes for a recovery in key China market and as demand for its luxury parkas and jackets stays strong. U.S.-listed shares of the Canadian company, which also posted a surprise quarterly profit, rose 5% following a broad market sell-off on Wednesday triggered by poor results from U.S. retailers. While store closures and falling traffic in China stemming from a fresh round of lockdowns impacted the winterwear maker's business in the reported quarter, Chief Executive Dani Reiss said he was confident about a recovery in the region.
From meme-stock enthusiasts to retirees, this year's steep dive for both stocks and U.S. Treasury prices has upended portfolios for individual investors who had enjoyed watching their wealth grow during the historic rally in financial assets early in the coronavirus pandemic in 2020. That strategy does not work when stocks and bonds fall in unison.
Companies including Microsoft Corp, Amazon.com Inc and Tesla have rushed to the aid of their U.S. employees as several states tighten abortion restrictions. The country's top court is also set to overturn a 1973 ruling which legalized abortion nationwide, according to a leaked initial draft majority opinion by the U.S. Supreme Court. Citigroup Inc began covering travel expenses for employees who go out of state for abortions in March, the first major bank to do so.
CMI Financial Group (CMI), Canada's premier private mortgage lender, today announced it has been named the 2022 Mortgage Awards of Excellence Lender of the Year: Private Lender.
Wells Fargo Investment Institute said on Wednesday it reduced its economic expectations with a mild U.S. recession now on the horizon in its base case scenario for the end of 2022 and early 2023, making it one of the more bearish big U.S. banks. Goldman Sachs, by comparison, recently calculated the odds of a recession at 15% for the next year and 35% for the next two years. Morgan Stanley's latest research shows a 25% probability for a recession starting in the next 12 months.
Today, the Minister of Environment and Climate Change, the Honourable Steven Guilbeault, hosted a roundtable alongside Canada's Prime Minister, the Right Honourable Justin Trudeau, and His Royal Highness The Prince of Wales to harness the power of sustainable finance in fighting climate change and building strong economies. The roundtable brought together leaders from Canada's financial and banking sector, Government of Canada institutions, and civil society, as well as other sustainable finance
SEIU Healthcare, a union bargaining on behalf of more than 17,000 workers in Ontario's hospitals, released results of a survey that shows Doug Ford and the Ontario Hospital Association (OHA) are undermining frontline staff.
WELLINGTON (Reuters) -New Zealand's government on Thursday promised to spend more than NZ$1 billion ($630 million) to help people cope with inflation that has reached three-decade highs in the Pacific nation. The public deficit for the current financial year, ending on June 30, will be narrower than previously forecast but a return to surplus will take longer than expected, the government said in its annual budget announcement. "COVID-19, climate change and the war in Ukraine have taught us we need to build a more secure economy that protects New Zealand households from the external shocks we know are coming," she added.
Next Earth announced a collaboration with SEE Turtles, a non-profit organization working to protect endangered sea turtles through conservation tours, education, funding, and more. The campaign will have a duration of 14 days, from 19 May to 2 June.
KOENIGSWINTER, Germany (AP) — Finance ministers for the Group of Seven leading economies grappled Thursday with deepening inflation concerns and the immediate effects of Russia’s war in Ukraine, with U.S. Treasury Secretary Janet Yellen promising that the allies would put together enough additional aid to help Ukraine “get through this.” “All of us pledged to do what's necessary to fill the gap,” Yellen said as the ministers finished their first of two days of talks. Although she did not have a
The 15th Session of the Conference of the Parties (COP15) of the United Nations Convention to Combat Desertification (UNCCD) kicked off on May 9, 2022 in Abidjan, Côte d'Ivoire. The UNCCD COP15 brings together leaders from governments, the private sector, civil society and other key stakeholders from around the world to promote sustainable land management in the future.
Shares of the company, which lowered its full-year growth forecast, were down about 13% at $42.4 and dragged peers Juniper Networks, F5 Inc and Arista Networks down 1% to 3.1% in early trade. Enterprise-focused firms such as Cisco, which benefited as companies spent to upgrade technology infrastructure to incorporate hybrid work, have faced challenges due to a shortage in components which has worsened since key supply hub China implemented stringent COVID lockdowns in April. Cisco has a backlog of $15 billion in products, including $2 billion in software, a record value of orders that are yet to be delivered to customers.
COMPTON, Calif. (AP) — The driver of a Tesla operating on autopilot must stand trial for a crash that killed two people in a Los Angeles suburb, a judge ruled Thursday. There is enough evidence to try Kevin George Aziz Riad, 27, on two counts of vehicular manslaughter, a Los Angeles County judge said. A judge ruled Thursday that a trial can proceed against a Tesla Model S driver in a 2019 crash that left two people dead in Gardena. It is believed to be the first felony prosecution in the U.S. ag
OTTAWA (Reuters) -Canada on Thursday said it plans to ban the use of China's Huawei Technologies Co Ltd and ZTE Corp 5G gear to protect national security, joining the rest of the so-called Five Eyes intelligence-sharing network. "We intend to exclude Huawei and ZTE from our 5G networks," Industry Minister Francois-Philippe Champagne told reporters in Ottawa. Champagne added that companies will be required to remove their 5G gear by June, 2024, would not be reimbursed.
CALGARY — Winnipeg's Barry Prentice was in his 20s when the spiralling inflation of the 1970s followed by double-digit interest rates in the early 1980s put home ownership completely out of reach for him and many of his friends. "I couldn't even consider it (buying a house). My brother did, and his mortgage rate was something like 18 or 20 per cent," said Prentice. "What I remember is that it was a time of great anxiety, a time of great uncertainty." Now a professor of supply chain management at
ICOA Inc. (OTC PINK: ICOA), a publicly-traded Nevada-based company that acquires exciting blockchain-driven ventures, has announced that The ICOA Fund is now live and available for subscription.
A rapid decline in the yen and market distortions caused by current monetary settings have raised the political heat on the Bank of Japan as it becomes increasingly isolated in a world of hawkish-leaning central banks. Opposition lawmakers are grilling the BOJ regularly for allowing the currency to weaken and push up living costs, putting Prime Minister Fumio Kishida in a hot spot ahead of an upper house election scheduled in July. While Kishida has defended the BOJ's policy as necessary for supporting a persistently weak economy, the fresh scrutiny on the bank could colour the government's deliberations about who will succeed its dovish governor, Haruhiko Kuroda.
New Development Bank (NDB), established by the BRICS group of emerging economies, said on Friday it would set up a regional office in India for funding and monitoring infrastructure projects in that country and Bangladesh. "The Indian Regional Office will be instrumental in enhancing NDB's engagement with borrowers and stakeholders," NDB President Marcos Troyjo said in a statement.