NEW YORK (AP) — Payment processing giant Visa’s profits rose 21% in the first three months of the year fueled by a large jump in spending on the company’s namesake credit and debit card network. The San Francisco-based company reported Tuesday that it earned $3.65 billion, or $1.70 a share, in its fiscal second quarter…
Asian shares logged moderate gains on Thursday after Wall Street stabilized following a sell-off in tech stocks the day before. Tokyo’s Nikkei 225 rose 1% to 26,642.88 after the Bank of Japan wrapped up a policy meeting with no major changes, maintaining its near-zero interest rate stance despite a sharp weakening of the yen against…
PARIS (AP) — Soon after his victory was announced, French President Emmanuel Macron took the stage to the sound of the European Union’s anthem, the “Ode to Joy.” The symbolism was strong: The 44-year-old centrist’s election to a second term bolsters his standing as a senior player in Europe. Macron is now expected to push…
WARSAW, Poland (AP) — Polish and Bulgarian officials said Tuesday that Moscow is cutting off natural gas deliveries to their countries due to their refusal to pay in Russian rubles, a demand made by President Vladimir Putin after sanctions were levied against his nation over the invasion of Ukraine. Russian state-owned energy giant Gazprom informed…
By Tom Sims and Frank Siebelt FRANKFURT (Reuters) -Deutsche Bank posted a better-than-expected 17% climb in first-quarter profit as investment banking revenues rose, but it warned that the Russia-Ukraine conflict could hurt full-year results. Funds it sets aside for credit losses are expected to increase “significantly” this year due to the war and slower growth,…
By Kanupriya Kapoor (Reuters) – Most Asian stock indices fell on Wednesday, as growing fears over the global economy drove investors to dump riskier assets in favour of safe havens such as the U.S. dollar and government bonds. Financial markets are grappling with multiple risks, including the prospects for aggressive U.S. interest rate hikes, a…
SINGAPORE (Reuters) – Two of Australia’s big four banks expect the benchmark cash rate will rise next week and a third sees increased risk of a hike after a surprisingly strong inflation reading on Wednesday. National Australia Bank and ANZ Bank pulled forward their lift-off forecasts from June to May and expect a 15 basis…
By Florence Tan (Reuters) -Oil prices extended gains in early Asian trade on Wednesday amid simmering geopolitical tensions as Russia cut gas supplies to Poland, while hopes of Chinese economic stimulus buoyed the demand outlook. Brent crude futures rose 44 cents, or 0.4%, to $105.43 a barrel by 0418 GMT. U.S. West Texas Intermediate crude…
By Heekyong Yang and Byungwook Kim SEOUL (Reuters) -LG Energy Solution Ltd (LGES) booked a 24% quarterly profit drop on Wednesday, far milder than market estimates, as strong sales of batteries to Tesla Inc offset troubles at automotive clients where chip shortages have hit production. Rising raw materials prices and supply-chain disruption set LGES up…
By Joyce Lee SEOUL (Reuters) -South Korean chipmaker SK Hynix Inc said it expects solid demand for server chips to offset weaker growth from personal computers and mobile phones, after its first-quarter profit more than doubled from a year ago. The world’s second-biggest memory chipmaker on Wednesday posted a 116% jump in Q1 earnings, supported…
