By Andy Bruce and David Milliken LONDON (Reuters) – The Bank of England raised interest rates to 0.5% on Thursday and nearly half its policymakers wanted a bigger increase to contain rampant price pressures, which the British central bank warned would …
Meta’s share price wipe-out shakes world tech stocks
By Danilo Masoni, Akash Sriram and Noel Randewich (Reuters) – Shares of Facebook owner Meta plummeted 26% on Thursday in what could be the worst single-day wipeout in market value for a U.S. company, after the social media giant issued a dismal forecas…
Aptiv profit slumps 95% on inflationary pressures, supply chain woes
(Reuters) – Auto parts supplier Aptiv Plc reported a 95% drop in fourth-quarter profit on Thursday, hurt by rising raw material prices and supply chain disruptions that have hampered global vehicle production. Net income fell to $15 million, or 6 cents…
Exclusive-iPhone flaw exploited by second Israeli spy firm-sources
By Christopher Bing and Raphael Satter WASHINGTON (Reuters) – A flaw in Apple’s software exploited by Israeli surveillance firm NSO Group to break into iPhones in 2021 was simultaneously abused by a competing company, according to five people familiar …
Lazard beats profit estimates on record dealmaking activity
(Reuters) – Investment bank Lazard Ltd reported a 13% jump in quarterly profit that beat Wall Street estimates on Thursday, helped by high advisory fees as a flurry of mergers and acquisitions closed out a record year for dealmaking. Global mergers and…
Global copper smelting surges in January, satellite data shows
LONDON (Reuters) – Global copper smelting activity powered to a 13-month peak in January as operations in China ramped up ahead of seasonal construction demand, data from satellite surveillance of copper plants showed. The number of inactive smelters f…
Siemens Gamesa sets out move to “reset” by replacing CEO
By Isla Binnie MADRID (Reuters) -Siemens Gamesa confirmed a gloomy outlook for full-year profits on Thursday, a day after the world’s largest maker of offshore turbines named a new chief executive to try to revive its fortunes. After a series of losses…
Tightening jitters, inflationary pressures weigh on European stocks
By Anisha Sircar (Reuters) -European stocks slipped on Thursday as investors fretted about possible interest rate hikes and monetary policy tightening, amid broadening inflationary pressures, ahead of central bank decisions later in the day. The pan-Eu…
Britain’s BT still in the game with Discovery sport tie-up
By Paul Sandle and Dawn Chmielewski LONDON/LOS ANGELES (Reuters) – BT said it would merge its sports TV unit with Discovery’s Eurosport in Britain and Ireland, enabling it to retain Premier League soccer for its customers while sharing the burden of ex…
FTSE 100 edges up, investors cautious hours ahead of BoE meet
By Tanvi Mehta and Amal S (Reuters) -London’s FTSE 100 traded marginally higher on Thursday, boosted by earnings from energy and consumer companies, with all eyes on an expected second consecutive rate hike by the Bank of England. The blue chip FTSE 10…