BERLIN (AP) — Germany’s finance minister said Wednesday that the government plans to make tax cuts worth more than 10 billion euros ($10.2 billion) to benefit broad sections of the population squeezed by high energy costs and inflation. Finance Minister Christian Lindner said about 48 million people in Germany would profit from changes to the…
By Rowena Edwards LONDON (Reuters) -Oil prices edged lower on Wednesday on expectations that Druzhba pipeline flows will resume shortly and demand concerns ahead of publication of key demand indicators. Brent crude futures fell 73 cents, or 0.76%, to $95.58 a barrel by 0928 GMT. U.S. West Texas Intermediate crude futures were down 64 cents,…
TOKYO (AP) — Honda’s fiscal first quarter profit fell 33% from last year as a global computer chip shortage, a pandemic-related lockdown in China and the rising costs of raw materials hurt the Japanese automaker. Tokyo-based Honda Motor Co. reported Wednesday that its profit totaled 149.2 billion yen ($1.1 billion) in the April-June quarter, down…
TOKYO (AP) — Toshiba reported a 44% improvement in profit in the last quarter as the Japanese technology giant worked to revamp its brand image and reassure investors about its management. Tokyo-based Toshiba Corp. said Wednesday that it recorded a 25.9 billion yen ($192 million) profit in the April-June period, up from 18 billion yen…
By Yimou Lee and Sarah Wu TAIPEI (Reuters) -Apple Inc supplier Foxconn gave a cautious outlook for the current quarter after posting results that exceeded expectations, citing slowing smartphone demand after a pandemic-fuelled boom. The comments from the Taiwanese company, the world’s largest contract electronics maker, echo those from other Asian tech firms that have…
By Sam Byford and Lawrence White TOKYO/LONDON (Reuters) – Stocks trembled on Wednesday while major currencies held steady as investors were reluctant to place bets ahead of the release of U.S. inflation data that could point to the Federal Reserve’s appetite for more aggressive rate increases. The Consumer Price Index (CPI) report will be released…
HONG KONG (AP) — Hong Kong airline Cathay Pacific Airways said Wednesday that losses in the first half of the year narrowed as a relaxation in quarantine rules boosted passenger numbers. But it cautioned that quarantine restrictions on its crew were limiting the airline’s ability to increase flight capacity. The company reported losses of about…
AMSTERDAM (Reuters) -Dutch bank ABN Amro beat analyst expectations on Wednesday with a jump of 21% in second-quarter net profit to 475 million euros ($485 million), as the release of previous impairments offset rising costs. Analysts in a company-compiled poll had predicted net profit of 312 million euros for April-June, down from 393 million euros…
BANGKOK (AP) — Shares advanced Thursday in Asia after benchmarks closed at three-month highs on Wall Street as investors cheered a report showing inflation cooled more than expected in July. Hong Kong, Shanghai and Seoul saw gains of more than 1%. Tokyo was closed for a holiday. U.S. futures edged higher, while oil prices slipped….
By Selena Li HONG KONG (Reuters) -Prudential Plc posted on Wednesday a rise of 8% in its first-half operating profit, but the Asia-focused insurer warned of challenging conditions for the rest of the year as COVID curbs persist in some markets. Adjusted operating profit from continuing operations of the London and Hong Kong dual-listed company…
