Author: Press Room

Amazon launched a public relations project called Ratatouille 3 years ago, according to a report from Bloomberg. The project, inspired by the hit Disney film, was created to boost Amazon’s image in France, sources told Bloomberg. Amazon has invested more than €16 billion into growing supporting innovation and infrastructure in France since 2010. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app For the past three years, Amazon has been trying to appeal to citizens of France through an internal project called “Ratatouille,” Bloomberg reported. Despite…

Credit Suisse is suing SoftBank in London’s High Court as the bank steps up the pursuit of $440mn it claims that its wealthiest clients are owed following the collapse of specialist finance firm Greensill Capital.The formal launch of proceedings in London is the first legal action by Credit Suisse since the bank was taken over by rival UBS in a rescue deal orchestrated by the Swiss government last month.Clients of Credit Suisse were left with hundreds of millions of dollars of losses after investing in a suite of supply-chain finance funds tied to Greensill that the Swiss bank marketed as…

House Speaker Kevin McCarthy told his leadership team that he wants to release bill text Wednesday detailing his party’s plan to raise the national debt limit for one year and is pushing for a floor vote next week, according to three sources familiar with the matter, a move that will set off a furious effort to limit GOP defections in the high-stakes fight with the White House. McCarthy’s proposal will include raising the debt ceiling by $1.5 trillion or until March 31 of next year, whichever comes first, according to sources. The plan to kick the fight into 2024 would…

Snap Inc.’s initial public offering led to changes that barred the company and others like it from joining major stock indexes, but at least one major index provider has decided to drop those limitations after less than six years. S&P Dow Jones Indices announced Monday afternoon that a 2017 rule barring companies with multiple share classes from joining indexes such as the S&P 500 SPX, +0.03% has been dropped. The move comes after the index manager consulted with “market participants” at the end of last year to discuss several potential changes to the policy. Snap SNAP, +1.45% was the poster…

Curaleaf Holdings Inc.’s stock rose 6% Monday after the New Jersey Cannabis Regulatory Commission on Monday voted to strike down a rejection of the company’s adult-use license and allow it to continue operations. In an emergency meeting conducted via Zoom, the commission’s 4 to 1 vote to renew an adult-use permit with conditions came just days after its April 13 decision to refuse a license renewal around questions about Curaleaf’s decision to close down a cultivation facility last month. Curaleaf’s CURLF, -0.41% CURA, +0.31% stock rose by 15 cents to $2.52 a share on Monday after trading was halted during…

About half of the nation’s renters said rising consumer prices were “very stressful” for them, according to a new analysis from researchers at the Joint Center for Housing Studies of Harvard University.The analysis, based on data from U.S. Census Bureau’s household pulse surveys from July to December of last year, found inflation’s strain was particularly acute among low-income renters, as well as Black and Hispanic tenants. Yet almost all renter households — 93% — had seen higher prices for goods or services in their region in the two-month period before they were polled, researchers Whitney Airgood-Obrycki and Peyton Whitney wrote…

© Reuters Netflix’s (NFLX) Q1 to show progress toward re-accelerating growth – UBS By Sam Boughedda UBS expects Netflix’s (NASDAQ:) first quarter to show continued progress toward re-accelerating growth, analysts told investors in a note Friday. “We believe subs will come in ahead of mgmt’s outlook for “modest” adds, helped by a slower ramp for paid sharing (shifting potential churn into 2Q),” the analysts wrote. UBS, which has a Neutral rating and $350 price target on the stock, now looks for 2.1 million adds in the first quarter and 2.5M in the second quarter (1.5M/2.8M prior), while its full-year estimate…

By Barani Krishnan Investing.com — In a twist to the bearish story on natural gas, a surprise late chill for April is boosting heating demand in parts of America that have led to more use of the fuel and, consequently, less build of it in storage. The most-active on the New York Mercantile Exchange’s Henry Hub settled at $2.366 per mmBtu, or metric million British thermal units, up 9.1 cents, or 4%, on the day. Since plumbing a session low of $1.946 on April 13, May gas has leapt more than 40 cents, or 22%, over three sessions. That’s a…

By Herbert Lash and Alun John NEW YORK/LONDON (Reuters) -The dollar strengthened on Wednesday, lifted by rising Treasury yields, though the pound gained against the greenback after British inflation stayed above 10% in March adding to pressure on the Bank of England to keep raising rates. The , which tracks the currency against a basket of its peers, was up 0.108% as markets turn more skeptical that the Federal Reserve will cut rates later this year. The yield on two-year Treasury notes, which are sensitive to expectations for the U.S. central bank’s monetary policy, was up 3.8 basis points to…

By Khushi Mandowara and Bhanvi Satija (Reuters) -UnitedHealth Group Inc on Friday topped expectations for first-quarter results but shares fell 3% after the company failed to address investor worries over high costs next year due to policy changes for government-backed health insurance plans. U.S. health insurers have been under pressure since February when the government proposed new rules for an audit program to avoid overpayment. Reimbursement rates – or the government payment rates – for health insurers for 2024 introduced in March resulted in a 1.1% average cut, though better than the initial proposal. The rates determine how much health…