Japan's Nippon Steel full-year profit down 21%, beats estimates
TOKYO (Reuters) - Nippon Steel, Japan's biggest steelmaker, posted on Thursday a 20.8% fall in net profit for the year ended in March to 549.4 billion yen, beating estimates. Nippon Steel had been expected to post a net profit of 464.6 billion yen,...
2h ago
Panasonic expects battery unit's annual profit to rise 23%
TOKYO (Reuters) - Japan's Panasonic Holdings forecast on Thursday a 23% rise in operating profit for its battery-making energy unit in the current business year, after undershooting its estimated operating profit for the year that just ended. Opera...
2h ago
ITV forecasts 12% jump in Q2 ad revenue on Euros demand
LONDON (Reuters) - Britain's ITV said its advertising revenue would jump by around 12% in the second quarter, four times the level achieved in the first, boosted by the Euros soccer championship which kicks off in June. The company, which broadcast...
3h ago
China's exports and imports return to growth, signalling demand recovery
BEIJING (Reuters) - China's exports and imports returned to growth in April after contracting in the previous month, customs data showed on Thursday, signalling an encouraging improvement in demand at home and overseas in a boost to a shaky economi...
3h ago
Analysis-War upends Ukraine's economy in a shift that may be permanent
By Olena Harmash KYIV (Reuters) - Within days of Russian forces invading Ukraine in early 2022, architect Oleh Drozdov made up his mind: he would move his home and business from the besieged eastern city of Kharkiv more than 1,000 km to the west, ...
3h ago
Country Garden says it aims to pay onshore coupons due Thursday by May 13
By Clare Jim HONG KONG (Reuters) - Embattled Chinese developer Country Garden said it is unable to pay onshore coupons due on Thursday but it aims to make the payment and additional interest incurred by May 13, within the grace period. The develope...
4h ago
Dollar holds its ground as key inflation data looms
By Brigid Riley TOKYO (Reuters) - The dollar held tight ranges against most peers on Thursday as traders awaited key U.S. inflation data for cues on Federal Reserve policy, while the focus on the massive interest rate gap between Japan and the U.S....
4h ago
Philippine economy grows less expected than on weaker consumer spending
By Neil Jerome Morales and Mikhail Flores MANILA (Reuters) - The Philippine economy accelerated less than expected in the first quarter, government data showed on Thursday, as weaker consumer spending offset a rebound in export growth. Gross domest...
4h ago
China's April exports grow 1.5%, imports increase 8.4%
BEIJING (Reuters) - China's April exports grew 1.5% year-on-year, while imports increased 8.4%, customs data showed on Thursday, suggesting demand at home and abroad may be slowly returning in a boost to the economic recovery. A Reuters poll of eco...
5h ago
BOJ will scrutinise weak yen in guiding monetary policy, says Governor Ueda
TOKYO (Reuters) - Bank of Japan Governor Kazuo Ueda said on Thursday the central bank will scrutinise the yen's recent declines in guiding monetary policy. "Sharp, one-sided yen falls are negative for the economy and therefore undesirable," as it m...
6h ago
Exclusive-Huawei's new phone uses more China-made parts, memory chip
By David Kirton and Brenda Goh SHENZHEN/SHANGHAI (Reuters) - Huawei's latest high-end phone features more Chinese suppliers, including a new flash memory storage chip and an improved chip processor, a teardown analysis showed, pointing to the progr...
6h ago
Asian shares subdued as China trade eyed, yen steadies after recent falls
By Stella Qiu SYDNEY (Reuters) - Asian shares were subdued on Thursday as investors awaited China trade data to gauge the health of the Chinese economy, while the yen steadied after three days of declines as Japan talked up a potential currency int...
6h ago
India inflation likely slipped in April: Reuters poll
By Milounee Purohit BENGALURU (Reuters) - India's consumer price inflation is likely to have eased to 4.80% in April, just shy of March's rate as food inflation remains sticky, according to economists polled by Reuters. While headline inflation has...
7h ago
JPMorgan's Australia arm fined $509,000 for allowing suspicious client orders
(Reuters) - JPMorgan's Australian arm has been fined A$775,000 ($509,252.50) for allowing suspicious client orders to be placed on wheat futures trading designed to manipulate the market, the country's corporate regulator said on Thursday. The Aust...
7h ago
Oil rises on U.S. crude storage draw, Fed rate cut hopes
By Laila Kearney (Reuters) - Oil prices rose in early trade on Thursday as shrinking U.S. crude inventories signalled tighter supply, and amid rising hopes that the Federal Reserve would cut interest rates by the end of the year. Brent crude future...
7h ago
BOJ board turned hawkish in April, many saw need for more rate hikes-summary
By Leika Kihara TOKYO (Reuters) -Bank of Japan board members turned overwhelmingly hawkish at their April policy meeting with many calling for the need to raise interest rates steadily to forestall risks of an inflation overshoot, a summary of opinions...
8h ago
Bank of England likely to move closer to first rate cut since 2020
By William Schomberg LONDON (Reuters) - The Bank of England is likely to take another step towards its first interest rate cut in four years on Thursday as inflation falls, but will probably be cautious about signalling that a move is imminent. The...
9h ago
Disney, Warner Bros to offer streaming bundle of Disney+, Hulu and Max
LOS ANGELES (Reuters) -Walt Disney and Warner Bros Discovery will offer a bundle of the Disney+, Hulu and Max streaming services in the United States starting this summer, the companies said in a statement on Wednesday. Customers will be able to sign u...
9h ago
US could ban Chinese connected vehicles or impose restrictions, US commerce secretary says
WASHINGTON (Reuters) - U.S. Commerce Secretary Gina Raimondo said on Wednesday the Biden administration could take an "extreme action" and ban Chinese connected vehicles or opt to impose restrictions but must first review extensive public comments....
10h ago
Beyond Meat reports wider loss, quarterly sales decline
(Reuters) - Beyond Meat posted wider-than-expected quarterly loss and an 18% drop in revenue as its higher priced plant-based meat products hit volumes. WHY IT'S IMPORTANT Demand for Beyond Meat's products - including burger patty, sausages and gro...
10h ago
Bumble beats first-quarter revenue estimates, shares surge
(Reuters) -Bumble beat Wall Street estimates for first-quarter revenue on Wednesday, a sign that its push for attracting payers at its dating apps is paying off. Shares of the Austin, Texas-based company, which offers dating apps such as Bumble, Badoo,...
11h ago
Celanese beats quarterly profit estimates as demand picks up
(Reuters) - Chemicals maker Celanese beat first-quarter profit estimates on Wednesday, helped by a steady rise in demand for its products amid persistent destocking trends. Destocking, a process by which companies offload excess inventory, had plag...
11h ago
News Corp misses quarterly revenue estimates
(Reuters) - Media conglomerate News Corp on Wednesday missed Wall Street estimates for third-quarter revenue, weighed down by a sluggish advertising market and lower physical book sales at its book publishing business. Inflation and higher interest...
11h ago
Arm's quarterly revenue forecast beats Street; annual rev guidance misses
By Max A. Cherney and Stephen Nellis (Reuters) -Chip designer Arm Holdings gave a fiscal first-quarter revenue forecast on Wednesday that beat Wall Street's expectations, but its full-year forecast was below expectations. Shares of Arm fell about 4% in...
12h ago
US sues Hyundai, Kia finance arm for repossessing service members' vehicles
By Jonathan Stempel (Reuters) - The U.S. government on Wednesday sued Hyundai and Kia's American financing arm, accusing it of repossessing vehicles leased by military service members without first obtaining court permission as required by law. Acc...
12h ago