By Ludwig Burger (Reuters) -Swiss drugmaker Roche’s first quarter sales rose a better-than-expected 10% on strong U.S. demand for rapid COVID-19 antigen tests and drugs including Ocrevus against multiple sclerosis as well as Hemlibra against haemophilia. Quarterly sales rose to 16.44 billion Swiss francs ($17.17 billion), up from 14.93 billion Swiss francs in the year-earlier…
By Heekyong Yang and Joyce Lee SEOUL (Reuters) -Hyundai Motor Co on Monday posted a 19% rise in first-quarter profit as favourable exchange rates offset a jump in raw material costs and a drop in sales caused by the prolonged global chip shortage. Net profit climbed to 1.6 trillion won ($1.28 billion) for the January-March…
By Yuka Obayashi TOKYO (Reuters) -Oil prices slumped to near two-week lows on Monday, extending losses from last week, as concerns grew that prolonged COVID-19 lockdowns in Shanghai and potential U.S. rate hikes would hurt global economic growth and fuel demand. Brent crude futures were down $3.15, or 3.0%, at $103.50 a barrel by 0326…
Asian shares were mostly higher Tuesday after U.S. stocks stormed back from sharp losses to log strong gains. Tokyo, Hong Kong, Seoul and Shanghai advanced while Sydney declined. Oil prices rose and U.S. futures also were higher. South Korea reported that its economy grew at a 3.1% annual pace in the first quarter of the…
By Saikat Chatterjee LONDON (Reuters) -Following is market reaction to French President Emmanuel Macron’s victory over rival Marine Le Pen in Sunday’s election. With 97% of votes counted, Macron was on course for 57.4% of the vote, interior ministry figures showed Market reaction: The euro opened higher on Monday at $1.0852 compared with Friday’s close…
By Alun John HONG KONG (Reuters) – The euro gained a fraction in early trade on Monday following French President Emmanuel Macron’s comfortable Sunday defeat of far-right rival Marine Le Pen, the outcome largely expected by markets and political analysts. The euro opened higher at $1.0840, was last trading at $1.0807, up 0.12% from Friday’s…
BEIJING (AP) — China is promoting coal-fired power as the ruling Communist Party tries to revive a sluggish economy, prompting warnings Beijing is setting back efforts to cut climate-changing carbon emissions from the biggest global source. Official plans call for boosting coal production capacity by 300 million tons this year, according to news reports. That…
TAIPEI (Reuters) -Operations at a unit of Taiwan-based Apple Inc supplier Foxconn in China’s Kunshan city remain suspended because of COVID-19 controls but there is limited impact as it has shifted production elsewhere, it said on Monday. The operations in Kunshan of Foxconn Interconnect Technology, which makes data transmission equipment and connectors, will remain closed…
ABUJA, Nigeria (AP) — At least 100 people may have died in an explosion at an illegal oil refinery in southeast Nigeria, a local oil official said Sunday as the search intensified for bodies at the site and for two people suspected of being involved in the blast. Nigerian President Muhammadu Buhari, in a statement,…
By Yuka Obayashi TOKYO (Reuters) – Oil prices extended losses on Monday amid persistent worries that prolonged COVID-19 lockdowns in Shanghai and potential U.S. rate hikes would dent global economic growth and fuel demand. Brent crude futures slid $1.90, or 1.8%, to $104.75 a barrel at 0015 GMT, while U.S. West Texas Intermediate (WTI) crude…
