TOKYO (Reuters) -Nissan Motor Co on Thursday said it was “cautiously optimistic” after posting a 14% drop in quarterly operating profit as the semiconductor shortage gradually eases and COVID-19 lockdowns in Shanghai are lifted. The Japanese company’s announcement offers a glimmer of hope for an auto industry battered by supply chain disruption that has thrown…
(Reuters) – Singapore Airlines (SIA) swung to a first-quarter net profit of S$370 million ($268 million), it said on Thursday, after a fourteenfold increase in passenger traffic year on year thanks to an easing of COVID-19 travel restrictions. The figure was a major improvement from the S$409 million loss in the first quarter a year…
TOKYO (AP) — Japanese automaker Nissan’s profit plunged in the last quarter to less than half of what it was a year earlier as the COVID-19 lockdown in China and a global semiconductor shortage slammed production. Nissan Motor Co. reported Thursday that its April-June net profit totaled 47.1 billion yen ($349 million), down from 114.5…
By Kate Holton LONDON (Reuters) -British commercial broadcaster ITV expects its soon-to-launch free streaming platform ITVX to resonate with viewers at a time when deteriorating economic conditions have forced many to cancel subscriptions with the likes of Netflix. ITV alarmed investors in March when it announced the arrival of ITVX, a major expansion of its…
SEOUL, South Korea (AP) — Samsung Electronics Co. has reported its operating profit rose 12% in the April-June quarter thanks to strong demand for server chips. The world’s top producer of smartphones and memory chips said in a statement Thursday that its operating profit for the last quarter rose to 14.1 trillion won ($10.8 billion)…
By Charlotte Van Campenhout AMSTERDAM (Reuters) -ArcelorMittal, the world’s second-largest steelmaker, reported higher than expected second-quarter earnings on Thursday helped by sharply increased prices, but saw threats from spiralling inflation, the war in Ukraine and China’s COVID-19 restrictions. The Luxembourg-based company did not give a specific forecast, but highlighted downside risks. Inflationary pressure presented a…
TOKYO (AP) — Asian shares were mostly higher on Friday following a broad rally on Wall Street, but Hong Kong’s benchmark sank more than 2%. Investors appear to have grown more convinced that the Federal Reserve may temper its aggressive interest rate hikes aimed at taming inflation after the Commerce Department reported the U.S. economy…
LONDON (Reuters) -BAE Systems, Britain’s biggest defence company, named Cressida Hogg as its next chair on Thursday, as it reported stronger-than-expected half-year results and announced a new share buyback plan. The builder of combat ships, submarines and fighter jets said Hogg, currently chair at commercial landlord group LandSec, would become chair designate from November, and…
CANBERRA, Australia (AP) — Australia’s runaway inflation is forecast to remain too high for the next two years and economic growth will slow without falling into recession, the government’s treasurer said on Thursday. Treasurer Jim Chalmers outlined to Parliament how the country’s economic outlook has deteriorated since the government of Prime Minister Anthony Albanese was…
(Reuters) – French healthcare group Sanofi lifted its full-year earnings outlook on continued strong sales growth for its bestselling drug Dupixent. In a statement on Thursday, Sanofi said it now expects 2022 adjusted earnings per share to grow by about 15%, excluding the effect of currency swings. It had previously predicted low double-digit percentage growth….
