Netflix Inc is expected to report that it added some 2 million subscribers in the first quarter and investors will scrutinize whether recent price cuts and the launch of an ad-supported plan are tempting people to subscribe and stay on. The company, which lost 200,000 subscribers in the year-ago quarter, returned to subscriber growth in the […]
Alphabet Inc shares fell nearly 4% on Monday after a report that South Korea’s Samsung Electronics was considering replacing Google with Microsoft-owned Bing as the default search engine on its devices. The report, published by the New York Times over the weekend, underscores the growing challenges Google’s $162-billion-a-year search engine business face from Bing – a minor player that has […]
The U.S. Treasury said Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new battery sourcing rules. The Treasury said the new requirements effective Tuesday will also cut by half credits for the Tesla (Model 3 Standard Range Rear Wheel Drive to $3,750 but other […]
Shares of Infosys Ltd slumped nearly 15% on Monday, dragging peers and the benchmark index, after the company’s dismal revenue outlook raised concerns about demand for Indian IT services amid a global banking turmoil and recession fears. Infosys’ outlook last week followed a disappointing quarterly report from larger rival Tata Consultancy Services Ltd, highlighting worries for the […]
A wildfire destroyed nearly 1,000 hectares on the French-Spanish border on Sunday and early Monday, authorities said, as parts of southern Europe remain gripped by a drought that is raising fears of a repeat of last summer’s exceptional conflagrations. The blaze, France’s first major wildfire this season, was brought under control early on Monday though […]
Gold reversed course to slip below the key $2,000 level on Monday, pressured by a stronger dollar and higher Treasury yields, while investors looked for cues on whether the market will see a ‘one and done’ rate hike by the U.S. Federal Reserve in May. Spot gold was down 0.7% at $1,988.30 per ounce by […]
Apple Chief Executive Tim Cook will meet India’s Prime Minister Narendra Modi and its deputy IT minister as part of his visit to inaugurate the iPhone maker’s first retail store in the country this week, people familiar with the plans said. The visit by Cook to open the first official company-owned outlets in Mumbai and New Delhi this […]
The U.S. Securities and Exchange Commission on Monday charged cryptocurrency exchange Bittrex Inc and its former CEO William Shihara with operating an unregistered national securities exchange, broker and clearing agency. The SEC alleged in its complaint, which was filed in a U.S. district court in Washington, that Shihara coordinated with crypto asset issuers seeking to […]
The dollar edged higher on Monday after the April survey of business activity in New York state rose for the first time in five months and bolstered expectations the Federal Reserve will raise interest rates in May. The dollar index , a measures of the currency against six major peers, rose 0.443% after the Empire […]
India and Russia are discussing a free trade agreement (FTA), the Russian trade minister said on Monday, an announcement that could deepen bilateral commercial ties that have flourished since war broke out in Ukraine. The FTA talks mark a step-up in economic relations between the two countries despite calls from Western countries for India to […]
