Siemens misses profit forecast as industrial business struggles
ZURICH (Reuters) - Siemens reported a drop in second quarter earnings at its industrial business, the German engineering group said on Thursday, after suffering a slowdown at its flagship factory automation division. The trains to industrial softwa...
2h ago
Singapore Airlines CEO says travel out of China not yet recovered
By Lisa Barrington SEOUL (Reuters) - Air travel demand from China is not back to pre-pandemic levels for Singapore Airlines, but a visa-free scheme for Chinese citizens to the Asian hub has helped fill seats and the airline will add more China capa...
2h ago
Morning Bid: Post-CPI party goes global
A look at the day ahead in European and global markets from Kevin Buckland Hopes that the U.S. inflation genie is back in the bottle has given investors globally the confidence to snap up stocks and riskier currencies, at the notable expense of the dol...
3h ago
How easyJet's bet on holidays paid off
By Joanna Plucinska LONDON (Reuters) - EasyJet's big bets on package holidays and better-located airports are helping it win customers, its CEO and investors say, even as concerns linger about the high cost of the strategy for an airline known for ...
3h ago
Microsoft asks hundreds of China-based staff to relocate amid U.S.-China tensions, WSJ reports
(Reuters) - Microsoft is asking about 700 to 800 people in its China-based cloud-computing and artificial-intelligence operations to consider transferring outside the country, the Wall Street Journal reported on Thursday. (Reporting by Kanjyik Gho...
4h ago
Pfizer offers up to $250 million to settle thousands of Zantac cancer lawsuits, FT reports
(Reuters) - Pfizer has agreed offer payment of up to $250 million to settle more than 10,000 lawsuits in the United States over cancer risks associated with its now-discontinued heartburn drug Zantac, the Financial Times reported on Thursday. (Rep...
4h ago
Rupee to open higher after data boosts odds of Fed rate cuts
By Nimesh Vora MUMBAI (Reuters) - The Indian rupee will open higher on Thursday after weak U.S. retail sales and cooling U.S. inflation made it more likely that the Federal Reserve will cut rates later this year. Non-deliverable forwards indicate ...
5h ago
South Korea's state-run think tank raises GDP, inflation forecasts
SEOUL (Reuters) - South Korea's state-run think tank on Thursday raised its economic growth forecast for this year and said inflation is expected to ease at a slightly slower pace, as it noted the need for gradual easing of monetary policy. In its ...
5h ago
China property shares in HK jump on report of government plans to buy unsold homes
HONG KONG (Reuters) - Shares of Chinese property developers in Hong Kong jumped on Thursday, after a report that China is considering a plan for local governments nationwide to buy millions of unsold homes from distressed companies to ease a protra...
5h ago
Australian jobless rate rises in April, erasing risk of rate hike
By Wayne Cole SYDNEY (Reuters) - Australian employment rose by more than expected in April, data showed on Thursday, but the jobless rate still climbed to a three-month top as the growth in workforce outpaced job creation. The jump in unemployment ...
5h ago
China's Nio aims to launch one new car model per year under Onvo brand
SHANGHAI (Reuters) - Chinese electric vehicle maker Nio said on Thursday it will launch one new car model per year under the Onvo brand and will have a second model targeting larger families coming up next. Nio executives were speaking a day after ...
6h ago
Asia rides Wall St rally, dollar sags on US inflation relief
By Kevin Buckland TOKYO (Reuters) - Asian stock markets rallied on Thursday, buoyed by Wall Street's surge to all-time peaks overnight after a milder U.S. inflation report raised expectations the Federal Reserve will deliver at least two rate cuts ...
6h ago
Exclusive-Anglo American freezes hiring globally after strategy revamp, document shows
By Scott Murdoch and Melanie Burton SYDNEY (Reuters) -Anglo American has frozen hiring globally after its pledge this week to simplify the miner that is the target of a $43 billion bid by Australia's BHP, according to an internal memo issued by Anglo a...
6h ago
Dollar sags as slower US inflation boosts rate cut expectations
By Tom Westbrook SINGAPORE (Reuters) - The dollar skidded to multi-month lows on Thursday after U.S. core inflation hit its slowest in three years and retail sales turned flat, which pulled forward expectations for rate cuts in the world's biggest ...
7h ago
Thai Q1 economic growth likely muted as exports, demand falter - Reuters poll
By Anant Chandak BENGALURU (Reuters) - Growth in Thailand's economy was likely subdued in the quarter through March despite solid tourist arrivals, hampered by weak exports and domestic demand, a Reuters poll of economists found. High household deb...
7h ago
Argentina's economy chief: talks to begin with IMF over new debt deal -local media
BUENOS AIRES (Reuters) - Argentine Economy Minister Luis Caputo said on Wednesday that talks with the International Monetary Fund (IMF) over a new debt program will begin shortly in comments to local broadcaster La Nacion+. "We're just going to sta...
7h ago
Oil prices rise on moderate US inflation data, strong demand
By Katya Golubkova TOKYO (Reuters) - Oil prices extended gains from the previous session on Thursday on signs of stronger demand in the U.S. where data showed slower inflation than markets expected, strengthening the argument for an interest rate c...
7h ago
Chile gives Albemarle option to boost lithium quota by 240,000 metric tons
SANTIAGO (Reuters) - Chile's economic development agency CORFO on Wednesday said it reached an agreement with Albemarle to establish an option for the U.S. company to increase its production quota by 240,000 metric tons of lithium metal equivalent ...
8h ago
Japan's GDP contracts, complicating BOJ's rate hike plans
By Satoshi Sugiyama and Tetsushi Kajimoto TOKYO (Reuters) - Japan's economy contracted in the first quarter, squeezed by weaker private consumption and external demand and throwing a fresh challenge to policymakers as the central bank looks to lift...
8h ago
Hedge fund Coatue scraps its Apple stake in Q1, while Viking built its position
By Carolina Mandl NEW YORK (Reuters) - Hedge fund Coatue Management dissolved its stake in Apple Inc in the first quarter while Viking Global Investors built a sizeable new position, securities filings showed on Wednesday. Coatue, founded by Phi...
9h ago
Norway sovereign wealth fund excludes three companies over ethical concerns
(Reuters) -Norway's central bank said on Wednesday that its executive board has decided to exclude three companies from its government pension fund over ethical concerns. Norges Bank, which manages the sovereign wealth fund, said in a statement it has ...
9h ago
IBM to add 800 AI-related jobs in Ireland
DUBLIN (Reuters) - IBM plans to hire up to 800 more people in Ireland to help build advanced software underpinned by AI technology, the biggest job announcement in the country's multinational sector this year, state investment agency IDA Ireland sa...
9h ago
Trump Media says it will delay quarterly filing due to auditor change
(Reuters) - Trump Media & Technology filed a notice to the U.S. Securities and Exchange Commission on Wednesday that it would delay its quarterly filing as it recently replaced its auditor after the regulator had charged the auditor with "fraud". F...
9h ago
Soros Fund Management dissolves stake in NYCB, buys Goldman Sachs shares
(Reuters) - Soros Fund Management has dissolved its share stake in embattled lender New York Community Bancorp in the first quarter of 2024, a regulatory filing showed on Wednesday. The family office of billionaire George Soros previously held abou...
9h ago
Bitcoin ETFs drew bets from Millenium Global, Wisconsin Retirement System in Q1
By Suzanne McGee and Hannah Lang (Reuters) -A handful of hedge funds, including Millennium Management LLC, and other asset managers are among the institutions that acquired stakes in the recently launched U.S. exchange-traded funds (ETFs) tied to the p...
9h ago