By Satoshi Sugiyama TOKYO (Reuters) -Toyota Motor Corp’s profit slumped a worse-than-expected 42% in its first quarter as the Japanese automaker was squeezed between supply constraints and rising costs. Operating profit for the three months ended June 30 sank to 578.66 billion yen ($4.3 billion) from 997.4 billion yen in the same period a year…
LONDON (AP) — The Bank of England announced its biggest interest rate increase in 27 years on Thursday as it forecast that the war in Ukraine would fuel further inflation and tip the U.K. economy into a prolonged recession. Soaring natural gas prices are likely to drive consumer price inflation to 13.3% in October, from…
TOKYO (Reuters) – Japan’s Fast Retailing, the owner of global clothing chain Uniqlo, said on Thursday it would open its first discount brand GU store in the United States this autumn. The store will open in the SoHo neighborhood of New York City in what will be the brand’s debut outside of the Asian market,…
BEIJING (AP) — Asian stock markets rose Friday ahead of an update on the health of the U.S. jobs market while the Federal Reserve weighs whether more rate hikes are needed to cool surging inflation. U.S. futures and oil prices edged higher. Investors were looking ahead to monthly U.S. employment numbers for signs of weakness…
(Reuters) -Australia’s “Big Four” banks raised their home loan variable interest rates on Thursday, after the country’s central bank hiked rates earlier this week. Commonwealth Bank of Australia, Australia and New Zealand Banking Group, National Australia Bank and Westpac Banking Corp increased their mortgage rates to match the hike announced by the central bank https://www.reuters.com/markets/rates-bonds/australias-central-bank-raises-rates-50bp-185-2022-08-02….
TOKYO (AP) — Toyota’s profit fell nearly 18% in the April-June quarter from the year before, as a semiconductor shortage that has slammed the auto industry dented production at Japan’s top automaker. Toyota Motor Corp. reported Thursday a quarterly profit of 736.8 billion yen ($5.5 billion), down from 897.8 billion yen the previous year. Quarterly…
FRANKFURT (Reuters) – Agriculture and pharmaceuticals company Bayer on Thursday lifted its 2022 earnings guidance on strong demand from farmers for its seeds and crop chemicals and higher sales of consumer health products. Bayer is now targeting earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, of about 13 billion euros ($13.21…
TOKYO (Reuters) – Japan’s Toyota Motor Corp on Thursday posted a worse-than-expected 42% drop in first-quarter operating profit, as auto production was curbed by COVID-19 restrictions on factories in China and a global semiconductor shortage. Operating profit for the three months ended June 30 slid to 578.66 billion yen ($4.3 billion), falling far short of…
