Samsung quarterly profit set to slump 25%, first decline in nearly three years
Samsung Electronics Co Ltd’s (005930.KS) third-quarter profit could tumble 25%, the first year-on-year decline in nearly three years, as an economic downturn saps demand for electronic devices and the chips that power them.
India’s digital lending rules spark disruption, firms plan pushback
India’s stricter digital lending rules have disrupted card services of foreign-backed fin-tech firms and jeopardised loan offerings of Amazon, prompting companies to chart a lobbying pushback, according to industry sources and a document seen by Reuters.
Gas price surge, recession fears weigh on European shares
European shares slipped on Tuesday as investors fretted about soaring energy prices and a weak economic outlook after data showed business activity in the region contracted this month.
Analysis: Are high prices unpatriotic or as American as you can get?
President Joe Biden’s pointed criticism of oil and gas companies for earning massive profits as families suffer from high gasoline prices challenges a pillar of American capitalism: that U.S. companies should make as much profit as they legally can, and direct that windfall back to investors.
UAE, Saudi say OPEC+ should not play politics
The energy ministers of Saudia Arabia and the United Arab Emirates, key members of OPEC+, said on Tuesday the producers’ group should not engage in politics as pressure mounted on them to take action against Russia over its invasion of Ukraine.
Analysis: Europe split on how to spare consumers energy price pain
Proposals from southern European countries to intervene in energy markets have highlighted the difficulty facing an EU summit this week as it seeks to respond to record prices driven by Russia’s invasion of Ukraine.
Video game publisher Electronic Arts lowers annual adjusted sales forecast
Electronic Arts Inc (EA.O) lowered its annual adjusted sales forecast after missing quarterly estimates on Tuesday, as the video game publisher faces the brunt of easing pandemic restrictions and fewer consumers picking up new gaming titles.
Britain to crack down on ‘misleading’ cryptocurrency adverts
Britain is to crack down on “misleading” advertisements for crypto assets which could harm consumers, the finance ministry said on Monday.
Analysis: White House delay on Fed regulation chief bodes badly for bank M&A
The White House’s delay in nominating the Federal Reserve’s new regulatory chief is likely to compound a logjam in approving bank tie-ups that have been on ice since September due to uncertainty over personnel changes at the U.S. central bank.
Amazon exec says Omicron’s impact on holiday spending uncertain
A senior Amazon.com Inc (AMZN.O) executive said it remains too early to predict how the Omicron coronavirus variant will impact consumer spending during the holiday season but suggested that shoppers will press ahead for now.
