By Helena Soderpalm STOCKHOLM (Reuters) -Electrolux said on Friday global supply chain issues would persist after posting a drop in quarterly profit, while expecting demand in 2022 above pre-pandemic levels. Households have been spending more on their homes, including on appliances, during the pandemic. But global logistics constraints and shortages of electronic components have hit…
By Valentina Za MILAN (Reuters) -Italian bank UniCredit posted better than expected 2021 results on Friday as the push by new Chief Executive Andrea Orcel to lift revenue began to bear fruit while costs remained in check despite rising pay and one-off charges. UniCredit, the only bank Italian supervisors deem of global systemic importance, also…
By Saikat Chatterjee LONDON (Reuters) – The dollar consolidated gains on Friday and was on track for its biggest weekly rise in seven months as expectations of higher interest rates fuelled the U.S. unit’s gains versus rivals. With money markets pricing 30 bps of rate hikes in March and more than 120 bps in cumulative…
PARIS (Reuters) – Shares in LVMH rose on Friday after the world’s largest luxury goods conglomerate reported an acceleration in its fourth quarter sales growth. LVMH shares were up 3.9 percent in early session trading, and the rally in LVMH also lifted up the shares of its luxury goods rivals such as Kering and Hermes….
TOKYO (AP) — Marcelo Claure, who joined SoftBank Group after turning around one of its key investments, office-sharing business WeWork, is leaving, the Japanese technology company said Friday. Claure has long been seen as a close aide to SoftBank Chief Executive Masayoshi Son, forging a partnership spanning nine years and overseeing a sprawling investment portfolio….
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -South Korean steelmaker POSCO’s operating profit more than tripled to a record 9.2 trillion won ($7.62 billion), boosted by strong demand and higher prices of the construction raw material. Global crude steel production rose 3.7% last year to 1.95 billion tonnes, World Steel Association data showed this…
AMSTERDAM (Reuters) – Signify NV, the world’s largest lighting maker, reported a 6% increase in fourth-quarter core earnings on Friday, as higher sales offset a rapid increase in the prices of raw materials and components. Adjusted earnings before interest, taxes and amortisation (EBITA) came in at 265 million euros ($295.6 million) in the last three…
MILAN (Reuters) -Italy’s UniCredit on Friday reported better-than-expected full-year revenues and underlying profit, despite one-off hits under a new strategy by CEO Andrea Orcel driving a fourth-quarter loss. UniCredit said 2021 revenues came in at 18 billion euros ($20 billion), ahead of its guidance for more than 16 billion euros, and underlying profit at 3.9…
By Julie Zhu (Reuters) -Asian stocks rebounded of Friday after steep losses in the previous session as strong U.S. economic growth and Apple Inc’s impressive earnings offset some bearishness generated by the Federal Reserve’s hawkish comments. U.S. stock futures rose in Asia trade with Nasdaq futures up 0.77% and S&P 500 e-minis up 0.48% after…
By Anshuman Daga and Indranil Sarkar SINGAPORE (Reuters) -DBS Group has agreed to pay S$956 million ($706.6 million) for Citigroup’s consumer business in Taiwan, making the Singapore lender the largest foreign bank in Taiwan by assets as it shores up regional acquisitions to power growth. The deal is part of DBS Chief Executive Piyush Gupta’s…
