McDonald’s posts surprise drop in quarterly global sales as spending slows
(Reuters) -McDonald’s reported a surprise drop in quarterly global comparable sales on Monday, as the…
European drinks group skid after US surgeon general calls for cancer warnings
(Reuters) – Shares in European spirits makers and brewers fell on Friday after the U.S. surgeon general called for cancer warnings on alcoholic drinks. Alcoholic drinks should carry a label warning consumers about their cancer risks, U.S. Surgeon General Vivek Murthy said in an advisory, noting that their consumption increases the risk of developing breast,…
Microsoft’s costs in focus as fears rise over slow payoff from AI
By Aditya Soni (Reuters) – Microsoft investors will have one big question when the tech giant reports earnings on Tuesday: has growth in its Azure cloud-computing business picked up enough to justify the billions of dollars being spent on artificial intelligence infrastructure? Widely seen as the front-runner in the race to make money from AI,…
Explainer-The Fed nears its 2% solution after a punishing bout of rising prices
By Howard Schneider WASHINGTON (Reuters) – Inflation is nearing the Federal Reserve’s 2% target, and the central bank is expected to begin cutting interest rates as soon as September. While it may take a while for the pace of price increases to fall all the way to 2% – and policymakers will be sensitive to…
McDonald’s posts surprise drop in quarterly global sales as spending slows
(Reuters) -McDonald’s reported a surprise drop in quarterly global comparable sales on Monday, as the burger giant struggled to hold back budget-strapped customers from opting for cheaper meals at home. Global sales fell 1% in the second quarter, its first decline in 13 quarters, compared with analysts’ average estimate of a 0.53% rise, according to…
Abbott shares slide after trial verdict, weigh on rival Reckitt Benckiser
(Reuters) -Abbott Laboratories’ shares fell nearly 7% premarket, while British peer Reckitt Benckiser slumped 9% on Monday, after the U.S. healthcare firm was ordered to pay $495 million in damages related to its formula for premature infants. A jury late on Friday found Abbott’s specialized formula for premature infants caused an Illinois girl to develop…
Microsoft’s LinkedIn settles lawsuit claiming it overcharged advertisers
By Jonathan Stempel (Reuters) – LinkedIn agreed to pay $6.625 million to settle a proposed class action accusing the Microsoft unit of overcharging advertisers by inflating how many people watched video ads on its platform. A preliminary settlement was filed late Thursday in San Jose, California federal court, and requires approval by U.S. Magistrate Judge…
Oregon wildfire explodes to half the size of Rhode Island
By Rich McKay (Reuters) – Winds and lightning strikes have sparked and fanned wildfires across the Pacific Northwest this week, including the largest fire in the United States, near the Oregon-Idaho border, which grew rapidly on Friday, fire officials said. The Durkee Fire near Huntington, Oregon, about 100 miles (160 km) north of Boise, Idaho,…
Stocks bounce after heavy sell-off as US inflation cools
By Harry Robertson LONDON (Reuters) -European shares and U.S. stock futures rebounded on Friday as markets stabilised after a week in which global equities have tumbled almost 2%, while the dollar regained ground against the yen. There was little major reaction to data showing the U.S. personal consumption expenditures index, the Federal Reserve’s preferred measure…
Netflix’s ex-film head Stuber ties with Amazon MGM to revive United Artists
(Reuters) – Amazon MGM Studios has entered a multi-year film partnership with Scott Stuber, the former longtime head of films at Netflix, to finance and release movies from his new production company, it said on Friday. Stuber, who left Netflix in March to start his media company, will produce several films annually under United Artists…
Theater chain AMC reaches new refinancing deal
(Reuters) -AMC Entertainment Holdings said on Monday it had reached an agreement with creditors that extends up to $2.45 billion of debt maturities from 2026 to 2029 and beyond. Under the terms of the deal, AMC will issue $1.2 billion of new secured term loans due 2029 in consideration for an open market purchase of…