SINGAPORE (AP) — Chinese telecoms equipment and smartphone maker Huawei’s sales fell 14% in January-March from a year earlier as it pumped money into research and development while grappling with U.S. sanctions, according to figures released by the company Thursday. Huawei Technologies said its revenue was 131 billion yuan ($19.8 billion) in the first quarter…
By Dominique Vidalon PARIS (Reuters) -French spirits group Pernod Ricard posted a forecast-beating 20% jump in third quarter sales on Thursday but said COVID-19 measures in China, war in Ukraine, and a normalisation of its U.S. business could mean a softer fourth quarter. Despite the challenges, the maker of Martell cognac and Absolut vodka, forecast…
BEIJING (Reuters) – China will cut import tariffs for all types of coal to zero from May 1, 2022, until March 31, 2023, the finance ministry said on Thursday, as Beijing strives to ensure energy security amid soaring global prices and supply disruption concerns. Top Chinese officials, including President Xi Jinping, have repeatedly addressed the…
By Tom Wilson and Tom Westbrook LONDON/SINGAPORE (Reuters) – The dollar was on the cusp on Thursday of its highest in two decades on Thursday while stocks gained on corporate earnings, with the yen tumbling to its lowest since 2002 after the Bank of Japan doubled down on its ultra loose monetary policy. The yen…
Stocks were mostly higher in Asia on Friday after a rally on Wall Street led by technology companies. U.S. futures and oil prices were mixed as investors await signals on Chinese economic policy from a meeting of the ruling Communist Party’s powerful Politburo. Analysts said the meeting, expected Friday, would likely focus on ways to…
(Reuters) – TotalEnergies will expand plans to buy back its own shares, the French energy group said on Thursday after first-quarter earnings rose sharply on soaring oil and gas prices. The oil and gas major, which is bolstering its renewables and electricity portfolios, is now planning $3 billion of share buybacks during the first half…
HONG KONG (Reuters) – UBS Group’s China country head David Chin has stepped down from the role but will remain the bank’s head of investment banking for Asia Pacific, according to a source with direct knowledge of the matter. The bank will appoint Eugene Qian, who heads UBS Securities, the Swiss bank’s majority owned mainland…
By Anshuman Daga and Lawrence White SINGAPORE (Reuters) – Standard Chartered posted a forecast-beating 6% rise in first-quarter profit, as the emerging-markets focused lender benefited from rising interest rates as central banks worldwide begin to grapple with inflation. The lender, which is focussed on Asia, Africa and the Middle East, now expects income growth this…
By Anshuman Daga and Lawrence White SINGAPORE (Reuters) – Standard Chartered’s first-quarter pre-tax profit rose 6%, beating market expectations, as the emerging markets-focused lender benefited from rising interest rates and flagged a robust outlook. Statutory pretax profit for StanChart, which earns most of its revenue in Asia, increased to $1.49 billion in January-March, from $1.4…
NEW YORK (AP) — If Elon Musk and Twitter get their way, the company will soon be privately held and under his control. The most obvious immediate change would likely be Twitter’s stock being taken off the New York Stock Exchange. But the company would also likely get freed from having to give regular updates…
