STOCKHOLM (Reuters) – Airline SAS reported on Tuesday a wider loss for its November through January quarter and said it would launch a new transformation programme across its business and look to raise new capital. The airline, which is part-owned by the governments of Sweden and Denmark, reported a fiscal first-quarter loss before tax of…
HONG KONG (AP) — HSBC PLC on Tuesday reported 2021 profit more than tripled to $12.6 billion as the bank sold its retail business in France and expanded wealth management in Asia. Profit rose despite a 2% decline in revenue to $49.6 billion amid the COVID-19 pandemic’s pressure on commercial customers, the bank reported. HSBC…
By Lucy Raitano (Reuters) – March was expected to be a busy window for Europe’s stock market listings, but a potential conflict between Russia and Ukraine and market uncertainty are prompting companies to put their plans to go public on ice. Proceeds raised so far this year by companies going public in Europe, the Middle…
BEIJING (AP) — Asian stock markets rebounded Wednesday after Wall Street slid on anxiety over President Vladimir Putin’s authorization to send Russian soldiers into eastern Ukraine. Shanghai, Hong Kong, South Korea and Australia advanced. Oil prices edged higher on concern about possible disruption to Russian supplies. Japanese markets were closed for a holiday. Global stock…
LONDON/SINGAPORE (Reuters) – HSBC said Hong Kong’s strict curbs on travel and social interaction are hurting the economy and may impact the ability to hire and keep staff in the Asian financial hub, in one of the strongest comments yet by a global lender on the city’s tough measures to combat the COVID-19 pandemic. “The…
By Tom Westbrook SINGAPORE (Reuters) – The safe-haven yen hit a near three-week high and the euro touched a one-week low in Asia trade on Tuesday as Russia ordered troops into breakaway parts of eastern Ukraine and the West vowed sanctions in response. The yen edged about 0.2% higher to 114.50 to the dollar in…
TOKYO (Reuters) – Japan’s Toshiba Corp said on Tuesday that a major shareholder, 3D Investment Partners, had withdrawn part of its shareholder proposal. Last week, Toshiba said it planned an extraordinary general meeting of shareholders for March 24 to seek initial approval to hive off its devices business. The firm 3D Investment Partners is based…
BEIJING (Reuters) -China will unveil bigger tax and fee cuts this year and step up payments to local governments to offset their hit to revenues, Finance Minister Liu Kun said on Tuesday, amid efforts to support a slowing economy. Tax fee cuts will be larger in 2022 than last year’s 1.1 trillion yuan ($173.56 billion)…
SINGAPORE (Reuters) -HSBC Holdings on Tuesday reported annual pre-tax profit more than doubled as the Asia-focused bank reversed hefty credit charges booked previously, saying it now expects to meet a key profitability goal a year ahead of schedule. The lender reported pretax profit came in at $18.9 billion last year, up from the previous year’s…
TOKYO (Reuters) – Japan will coordinate with the Group of Seven (G7) advanced economies in dealing with the Ukraine situation, while carefully watching how it could affect its economy, Finance Minister Shunichi Suzuki said on Tuesday. Suzuki also told reporters after a cabinet meeting that he would closely watch any impact from rising interest rates…
