By Leika Kihara TOKYO (Reuters) -The Bank of Japan on Thursday maintained its massive stimulus programme and a pledge to keep interest rates ultra-low, reinforcing its resolve to support a fragile economy even as sharp rises in raw material costs push up inflation. The central bank also said it will offer to buy unlimited amounts…
By Tom Westbrook SINGAPORE (Reuters) – Share markets steadied on Thursday, taking comfort in technology earnings, though an energy crisis in Europe and China’s lengthy lockdowns kept the mood cautious and have propelled the dollar close to 20-year highs as investors seek out safety and yield. Nasdaq 100 futures were up 1% in the Asia…
By Anshuman Daga SINGAPORE (Reuters) -Singapore’s Sembcorp Marine (Sembmarine) has agreed to a S$8.7 billion ($6.29 billion) merger with Keppel Corp’s larger offshore and marine unit, a year after the Temasek-backed firms began deal talks amid an industry downturn. The lossmaking oil rig builders have been whiplashed by years of oversupply, oil price volatility and…
HONG KONG/BEIJING (Reuters) -NetEase’s Cloud Music unit has sued Tencent Music Entertainment (TME), accusing it of unfair competition and plagiarising its app design, the company said on Wednesday. The move is the latest development in a long-running rivalry between the two Chinese tech giants who are vying to add users and sign popular musicians. Features…
SHENZHEN, China (Reuters) – Smartphone sales in China fell 14% year-on-year in the first quarter to 74.2 million units, with volumes falling to levels last seen during Q1 2020, Counterpoint Research said. Smartphone maker Vivo captured the biggest market share in the first quarter, with 19.7% of sales, followed by Oppo with 18%, and Apple…
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics Co Ltd reported a 51% rise in quarterly profit on Thursday, buoyed by robust data centre demand for high-margin memory chips, but cautioned that component shortages will likely continue in the second half. Samsung said demand for server chips is expected to be solid in…
By Hari Kishan and Jonathan Cable BENGALURU (Reuters) – The global economy will expand more slowly than predicted three months ago, according to Reuters polls of over 500 economists, who said higher commodity prices and an escalation in the Russia-Ukraine war could prompt another downgrade. Already under pressure from monetary tightening as central banks try…
(Reuters) – Fortescue Metals Group raised its full-year iron ore shipments forecast on Thursday, as the company ramps up output at its Eliwana operations in Western Australia. The higher guidance comes against the backdrop of soaring prices for the steel-making ingredient during the March quarter due to concerns about supply disruptions after Russia’s invasion of…
By Jody Godoy (Reuters) -Archegos Capital Management founder Bill Hwang on Wednesday was released on bail after pleading not guilty to U.S. criminal charges over the meltdown of his New York private investment firm, which left global banks with $10 billion in losses. Archegos, which had $36 billion in assets, collapsed last year when it…
By Andrea Shalal WASHINGTON (Reuters) -U.S. data due out Thursday is expected to show slower economic growth in the first quarter, mainly due to a less robust jump in business inventories, but the overall economy remains strong, a senior Biden administration official told Reuters on Wednesday. The Commerce Department’s advance reading of first-quarter gross domestic…
