Shares were mostly lower in Asia on Wednesday, with markets in China, Japan and some other markets still closed for holidays. Hong Kong and Seoul fell more than 1% and oil prices were higher. On Tuesday, stocks closed modestly higher on Wall Street as investors waited for Wednesday’s decision by the Federal Reserve on interest…
By Sonali Paul MELBOURNE (Reuters) – Oil prices rose on Tuesday, extending gains from the previous session, as the European Union firmed up plans to tighten sanctions on Russia this week, with Germany saying it was prepared to back an immediate embargo on Russian oil. Brent crude futures rose 25 cents, or 0.2%, or $107.83…
By Anshuman Daga SINGAPORE (Reuters) -Shares in HSBC Holdings rose in Hong Kong trade on Tuesday after its largest shareholder, Chinese insurance giant Ping An, called for a break-up of the London-headquartered bank. Sources familiar with the situation said on Friday Ping An had urged HSBC to look at options including spinning off the Asian…
By Jihoon Lee and Choonsik Yoo SEOUL (Reuters) -South Korea’s consumer inflation quickened far more than forecast and hit a more than 13-year high in April, boosting expectations in the bond market for more central bank interest rate rises this year. The Statistics Korea data showed the consumer price index (CPI) rose 4.8% in April…
(Reuters) -Logitech International reported a 20% drop in sales for its fourth quarter on Tuesday, as the computer mice, webcam and keyboard maker lapped high comparables from a year earlier. Sales fell to $1.23 billion for the three months to the end of March from $1.54 billion a year earlier, when sales were massively boosted…
(Reuters) – Logitech International reported a 20% drop in sales for its fourth quarter on Tuesday, as the computer mice, webcam and keyboard maker lapped high comparables from a year earlier. Sales fell to $1.23 billion for the three months to the end of March from $1.54 billion a year earlier, when sales were massively…
By Sinead Cruise LONDON (Reuters) -The sudden fall in European shares driven by a brief crash in Nordic markets was caused by a single sell order trade by Citigroup Inc, people familiar with the matter told Reuters, and confirmed by Citi. The flash-crash, which caused European shares to suddenly fall on a day of holiday-thinned…
(Reuters) – Australia’s Woolworths Group said on Tuesday its domestic supermarkets and discount department stores were experiencing strong trading momentum in the current quarter, but flagged stocking issues due to supply chain disruptions. The company posted a near 10% jump in its third-quarter sales at A$15.12 billion ($10.66 billion) on a continuing operations basis, as…
More than 1,000 workers at two CNH Industrial plants went on strike Monday in search of a better deal with the company that makes agriculture and construction equipment. The United Auto Workers union said the workers in Racine, Wisconsin, and Burlington, Iowa, went on strike at noon after contract talks faltered. The action follows a…
By Tina Bellon (Reuters) -Electric carmaker Rivian Automotive Inc will receive $1.5 billion in state and local incentives and tax credits for the electric vehicle assembly plant it plans to build in Georgia, the state and company said on Monday. The $5 billion plant is expected to employ some 7,500 workers once up and running….
