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ATHENS/BRUSSELS (Reuters) – Greek Prime Minister Alexis Tsipras said he was willing to accept unpalatable compromises to secure a deal with international creditors, provided he gets debt relief in return, something that Germany refuses to countenance. With Greece heading towards possible default and bankruptcy, he told his negotiating team before it took a counter-proposal to Brussels that without debt relief he would say “no” to any settlement with the EU
Twitter Inc’s announcement that Dick Costolo would exit as CEO on July 1 was long on plaudits but offered few clues on how the company will tackle its biggest problem: user growth. Twitter’ shares were down 0.6 percent in early afternoon trading on Friday, after rising much as 3.9 percent just after the opening, as investors assessed the company’s prospects. Analysts said Twitter has an uncertain future unless it can
Upbeat consumer sentiment and other data added to views the economy may be regaining momentum, which increased anxiety for investors ahead of next week’s Federal Open Market Committee meeting, the U.S. central bank’s last meeting before September. Also of concern, a day after the International Monetary Fund quit bailout talks with Greece, EU officials said they had held their first formal discussions on the worst-case scenario for the country. The
U.S. authorities are examining payments made by Nike Inc under a 1996 soccer sponsorship deal with Brazil for possible evidence of wrongdoing by the company or others, the Wall Street Journal reported on Friday, citing people familiar with the matter. Although Nike has not been named or charged with any wrongdoing yet, the company was swept into the corruption scandal that engulfed soccer’s governing body FIFA when a U.S. indictment
U.S. consumer confidence surged in early June on expectations that a tightening labor market would spur big wage raises, which could further stimulate spending and overall economic growth later this year. The rise in sentiment came despite higher gasoline prices, which contributed to producer prices recording their biggest increase in more than 2-1/2 years in May. Strong consumer confidence, together with a tightening labor market, bullish retail sales and firming
More than 25,000 games will each have their own page on the site, bringing videos and live streams about various titles together in a single space, Google said. “When you want something specific, you can search with confidence, knowing that typing “call” will show you “Call of Duty” and not “Call Me Maybe,” Google said in a blog post. Amazon bought Twitch Interactive last year for $970 million, beating a
Michael Kors Holdings Ltd (KORS.N) agreed to pay $4.88 million and change its sales practices to settle a class action lawsuit claiming it used deceptive price tags at its outlet stores to fool shoppers into believing they were getting big bargains. Shoppers said the suggested retail prices were artificial because the tagged products had been made exclusively for Michael Kors outlets, and the London-based fashion house never intended to sell
European officials are preparing for the worst as Prime Minister Alexis Tsipras’s brinkmanship pushes Greece’s finances to the limit.
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Investors were also edgy ahead of the U.S. Federal Reserve’s Open Market Committee meeting next week, the central bank’s last meeting before September, which may provide clues regarding the timing of an interest rate hike. Economists and top Wall Street banks expect the Fed to raise rates in September, in what could be the central bank’s first hike in almost a decade.
