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…
By Hyunjoo Jin and Akriti Sharma (Reuters) -Tesla Inc Chief Executive Officer Elon Musk sold $6.9 billion worth of shares in the electric vehicle maker, saying the funds could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform. “In the (hopefully unlikely) event that Twitter…
By A. Ananthalakshmi KUALA LUMPUR (Reuters) -Migrant workers at Malaysian glove maker Brightway Holdings filed a lawsuit in the United States against Kimberly-Clark Corp and Ansell Ltd, accusing them of “knowingly profiting” from the alleged use of forced labour at the supplier, according to the complaint seen by Reuters. In the suit, filed late on…
By Josh Ye HONG KONG (Reuters) – Lenovo Group, the world’s biggest maker of personal computers, reported flat revenue for the April-June quarter when many Chinese cities were hit by COVID-19 lockdowns, marking its most subdued result in eight quarters. Total revenue came in at $16.96 billion, in line with an average Refinitiv estimate of…
BEIJING (Reuters) – China’s factory-gate inflation eased to its lowest since February 2021, as raw material prices fell due to already slower construction activity, while consumer prices rose gently, bucking the sharp increases seen elsewhere. The producer price index (PPI) rose 4.2% year-on-year, the National Bureau of Statistics (NBS) said on Wednesday, after a 6.1%…
