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...
9h 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...
10h 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...
11h 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...
11h 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...
11h 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...
11h 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...
11h 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...
12h 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...
13h 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...
14h 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...
14h 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....
15h 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...
15h 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,...
15h 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...
15h 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...
16h 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...
17h 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...
17h ago
Exclusive-In Tesla Autopilot probe, US prosecutors focus on securities, wire fraud
By Mike Spector and Chris Prentice (Reuters) - U.S. prosecutors are examining whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles' self-driving capabilities, three people familiar with ...
17h ago
Theater chain AMC posts quarterly revenue above estimates
(Reuters) -AMC Entertainment on Wednesday beat analysts' estimates for first-quarter revenue, as films like "Dune: Part Two", "Civil War" and "The Fall Guy" brought audiences to the world's largest theater chain. Shares of the Leawood, Kansas-based com...
17h ago
Airbnb posts higher profits on global travel demand
(Reuters) - Vacation rental company Airbnb reported a higher quarterly profit on Wednesday, boosted by an increase in travel in international markets as North American bookings decelerated during the period. Shares of the company were up 3% after t...
17h ago
Robinhood swings to profit from year-ago loss
(Reuters) -Robinhood Markets reported a profit in the first quarter on Wednesday compared with a loss last year, helped by strong trading volumes and rate hikes that boosted its net interest revenue. The company reported a profit of $157 million or 18 ...
17h ago
Argentina industrial output sinks 21% amid Milei austerity, worst since pandemic
BUENOS AIRES (Reuters) - Argentina's industrial output plunged 21.2% in March from a year ago, the INDEC statistics agency said on Wednesday, the worst slide since the depths of the Covid-19 pandemic as libertarian President Javier Milei pushes a t...
18h ago
PIMCO adds bond exposure outside the US on inflation risks
By Davide Barbuscia NEW YORK (Reuters) - U.S. bond giant PIMCO said on Wednesday it is increasing its bond exposure in developed markets outside the United States as inflation could complicate the shift of the Federal Reserve to lower interest rate...
19h ago
Fed's Cook says households, banks, firms largely in solid financial shape
By Howard Schneider WASHINGTON (Reuters) - U.S. households, banks and firms are largely in solid financial shape, with the means at hand to cover debt payments and with strong enough buffers to absorb potential shocks, Federal Reserve Governor Lisa...
20h ago