Insurance Australia tops benchmark index on reinsurance deals
By Shivangi Lahiri (Reuters) - Shares of Insurance Australia Group rose 9% on Friday after the company bought reinsurance protection from a unit of Berkshire Hathaway and Canada Life Reinsurance in a bid to minimise financial fluctuations for the ...
Jun 28, 2024
Dollar barges past 161 yen and eyes quarterly rise
By Tom Westbrook SINGAPORE (Reuters) - The dollar was headed for a second straight quarterly gain and jumped to a near four-decade high on the battered yen in Asia trade on Friday, ahead of a crucial U.S. inflation reading. Neither an overnight dro...
Jun 28, 2024
Asia shares eye five-month winning streak; yen buckles under dollar strength
By Rae Wee SINGAPORE (Reuters) - Asian stocks were headed for a fifth straight month of gains on Friday, bolstered by the growing view that cooling inflation in the United States would allow the Federal Reserve to ease rates later this year. Friday...
Jun 28, 2024
Oil prices edge higher as supply risks mount
By Shariq Khan NEW YORK (Reuters) - Oil prices rose in early Asian trading hours on Friday, setting up a third straight weekly jump, as concerns about supply problems from escalating geopolitical tensions and weather-related disruptions offset sign...
Jun 28, 2024
South Korea May factory output -1.2% m/m, misses forecast
SEOUL (Reuters) - South Korea's factory output fell in May, missing market expectations, on weaker production of machinery and automobiles, official data showed on Friday. The industrial output index fell 1.2% over the month on a seasonally adjuste...
Jun 28, 2024
Core inflation in Japan's capital accelerates in June
By Leika Kihara TOKYO (Reuters) - Core consumer prices in Japan's capital rose 2.1% in June from a year earlier, data showed on Friday, accelerating from the previous month as rising fuel bills and the boost to import costs from a weak yen weighed ...
Jun 28, 2024
Japan May jobless rate unchanged at 2.6%, job availability down
TOKYO (Reuters) - Japan's jobless rate in May was unchanged at 2.6% from the previous month, government data showed on Friday. The seasonally adjusted unemployment rate compared with economists' median forecast for 2.6%. The jobs-to-applicants rati...
Jun 28, 2024
Tokyo June core CPI rises 2.1% yr/yr
TOKYO, June 28 (Reuters) - Core consumer prices in Tokyo rose 2.1% in June from a year earlier, government data showed on Friday. The core consumer price index for Japan's capital, which includes oil products but excludes fresh food prices, compared wi...
Jun 27, 2024
Fujifilm once struggled to sell cameras. Now, it can't keep up with demand
By Rocky Swift TOKYO (Reuters) - For years, Japan's Fujifilm pivoted away from its legacy camera business to focus on healthcare. But thanks in large part to the TikTok crowd, its retro-themed X100 digital cameras are a now a roaring success, boost...
Jun 27, 2024
Boeing woes will not erode workers' readiness to strike, union says
By Allison Lampert SEATTLE (Reuters) - Boeing's recent financial and production challenges following a January mid-air panel blow out will not change their workers' readiness to strike to make gains in bargaining, their union local president told R...
Jun 27, 2024
Morning Bid: Tokyo inflation, scores on the first half doors
By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets. A mood of caution hangs over Asian markets on Friday, the last trading day of the quarter and half-way point in the year, with investors likely to keep risk exposure to a minim...
Jun 27, 2024
Saudi developer Dar Global eyes $300 million investment in US expansion
By Koh Gui Qing NEW YORK (Reuters) - Saudi property developer Dar Global plans to invest $300 million in New York, Miami and Los Angeles in the coming months as it seeks partners to develop luxury homes the United States. London-listed Dar Global h...
Jun 27, 2024
Microsoft tells clients Russian hackers viewed emails, Bloomberg News reports
(Reuters) - Microsoft Corp is informing some of its customers that their emails were accessed by a Russian state-sponsored hacking group that breached the technology giant's internal systems, Bloomberg News reported, citing a company spokesperson. ...
Jun 27, 2024
S&P Global announces Martina Cheung as CEO
(Reuters) - Financial information company S&P Global announced on Thursday that it has appointed insider Martina Cheung as CEO effective on Nov. 1. Cheung, who has held multiple leadership roles at S&P Global previously, will succeed Douglas Peters...
Jun 27, 2024
Illumina to take $1.47 billion goodwill impairment charge related to Grail in Q2
(Reuters) - Illumina said on Thursday it will take a goodwill impairment charge of $1.47 billion in the second quarter related to the recently spun-off Grail Inc. As an independent company, Grail is betting on commercial partnerships with health sy...
Jun 27, 2024
Cloaked Audis, covert CEO meeting: how VW's $5 billion Rivian bet transpired
By Abhirup Roy and Victoria Waldersee SAN FRANCISCO/BERLIN (Reuters) - A few camouflaged Audis arrived secretly from Germany early this year at a facility of electric vehicle (EV) maker Rivian in California, where some 30 engineers stripped the ele...
Jun 27, 2024
Nokia considering potential acquisition of Infinera, Bloomberg News reports
(Reuters) -Nokia is exploring a potential acquisition of Infinera Corp, a maker of optical telecommunications equipment, Bloomberg News reported on Thursday, citing people familiar with the matter. Shares of Infinera jumped nearly 25% in after-hours tr...
Jun 27, 2024
Brazil's Lula says there is always room to cut spending
SAO PAULO (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Thursday there is always room to cut government spending, after his remarks this week pushing against spending cuts had weighed down the real. In an interview with a local ...
Jun 27, 2024
Walmart Canada adds Nikola's hydrogen fuel cell-powered electric semi-truck to fleet
(Reuters) - Nikola said it has delivered a hydrogen fuel cell powered electric semi-truck to Walmart Canada, making it the first major retailer in the country to add it to its fleet. Reuters reported in April Tesla Semi trucks were in short supply ...
Jun 27, 2024
Aramco close to agreeing 10% stake in Renault, Geely thermal engines JV, sources say
PARIS (Reuters) -Saudi Aramco is set to take a 10% stake in a thermal engine joint venture between Renault and China's Geely called Horse Powertrain, said two sources familiar with the matter, beefing up a business supplying legacy automakers as electr...
Jun 27, 2024
Nike misses quarterly revenue expectations on choppy demand for its sneakers
(Reuters) - Nike missed market expectations for fourth-quarter revenue on Thursday, as the sportswear giant lost ground to newer brands. Shares of the company were down 4.7% in extended trade. Even though Nike has outlined a plan to streamline its ...
Jun 27, 2024
Chile's president defends power rate hike after five-year freeze
SANTIAGO (Reuters) - Chilean President Gabriel Boric pitched a decision to raise electricity rates over the next few months as a necessary if unpopular measure that will promote healthier public finances. Power rates had been frozen since 2019, whi...
Jun 27, 2024
Brazil creates fewer formal jobs than expected in May
BRASILIA (Reuters) - Brazil's economy created a net 131,811 formal jobs in May, Labor Ministry data released on Thursday showed, falling short of the 200,000 forecast in a Reuters poll of economists. The figure accounts for 2,116,326 admissions and...
Jun 27, 2024
IMF says US needs to tackle debt despite robust growth
WASHINGTON (Reuters) - The International Monetary Fund on Thursday called on the U.S. to raise taxes to curb rising debt levels while applauding "robust, dynamic" growth in the world's largest economy and progress towards bringing inflation under c...
Jun 27, 2024
Meta must face lawsuit claiming it prefers foreign workers over US citizens
By Daniel Wiessner (Reuters) -A U.S. appeals court on Thursday revived a software engineer's proposed class action claiming Meta Platforms refused to hire him because it preferred to give jobs to foreign workers who are paid lower wages. The San Franci...
Jun 27, 2024