The pandemic accelerated the corporate world’s digital transformation. Enterprise cloud computing solution provider Salesforce.com (CRM) benefitted from the adoption. However, shares of CRM have fallen 30% from early November peaks. Valuation was a concern as investors headed for the hills in a rising rate environment. CRM saw additional headwinds around fears that orders were being…
LONDON (Reuters) – The euro extended its falls across the board on Friday and was poised for its biggest weekly drop in seven years against the Swiss franc as investors dumped the single currency as the war in Ukraine intensified. Europe’s economy is the most vulnerable to the Russian invasion of Ukraine and investors have…
By Carolyn Cohn and Lawrence White LONDON (Reuters) – Russia’s global financial isolation intensified on Friday as the London Stock Exchange (LSE) suspended trading in its last Russian securities and some insurers withdrew cover from exporters over Moscow’s invasion of Ukraine. Banks, investors and insurers have in recent days ratcheted up that pressure by exiting…
MOSCOW (Reuters) – Russian lender TCS Group Holding on Friday reported its 2021 net profit surged 43% in rouble terms to hit a new annual record, but said it was now focused on making sure its systems work as usual. Last year’s net profit of 63.4 billion roubles ($561 million) came at around $860 million…
MOSCOW (Reuters) – Russia’s largest bourse, Moscow Exchange, said on Friday Russian companies with direct access to trading will need to pay a 12% commission if they want to buy foreign currency, while freeing importing companies from paying the levy. In a move to try to stabilise wildly fluctuating markets hit by Western sanctions, Russia…
WASHINGTON (Reuters) – U.S. President Joe Biden on Friday will announce requirements for the government to buy more made-in-America goods at a White House event where Germany’s Siemens AG will commit to new investments in U.S. manufacturing. Biden has vowed to direct more of the $600 billion in federal spending each year toward domestically manufactured…
By Huw Jones LONDON (Reuters) – Stocks extended their losses for the week on Friday as investors piled into government bonds and gold for cover while scrutinising the latest twists in Russia’s escalating invasion of Ukraine, which included seizing a huge nuclear plant. Industrial metals, grains and oil gained while Asian shares mined 16-month lows…
TOKYO (AP) — Two big names in Japanese electronics and autos are joining forces to produce an electric vehicle together. Sony Group Corp. and Honda Motor Co. agreed to set up a joint venture this year to start selling an electric vehicle by 2025, both sides said Friday. The plan is to bring together Honda’s…
(Reuters) -France’s Dassault Aviation said on Friday it expected to post lower sales this year than in 2021, as it reported a steep rise in annual earnings fuelled by higher deliveries of its warplanes. The maker of Rafale fighter jets saw its operating income more than double to 527 million euros ($580.33 million) from 261…
AMSTERDAM (Reuters) – Dutch bank ING provided an update on Friday on its exposure in Russia and Ukraine, saying that about 700 million euros ($771 million) in outstanding loans were “affected” by “new sanctions on (Russian) specific entities and individuals” by Europe and the United States. In a statement composed of bullet points and pictures,…
