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%…
BEIJING (AP) — Liu Qian, job-hunting with a new master’s degree, said two employers interviewed her and then said the positions had been eliminated. Others asked her to take lower pay. She is one of 11 million new graduates desperate for work in a bleak job market as anti-virus controls force factories, restaurants and other…
By Stephanie Kelly (Reuters) – Oil prices edged lower on Wednesday, after industry data showed U.S. crude inventories unexpectedly rose last week, signaling a potential hiccup in demand. U.S. crude stocks rose by about 2.2 million barrels for the week ended Aug. 5, according to market sources citing American Petroleum Institute figures. Analysts had forecast…
(Reuters) -Australia’s Graincorp on Wednesday raised its annual profit forecast for the second time, as the agribusiness firm continues to capitalise on a supply crunch from the war in Ukraine, aided by expectations of above-average East Coast Australian (ECA) crop. Soaring prices and demand for grains amid ongoing geopolitical tensions had driven a five-fold jump…
By Mehnaz Yasmin (Reuters) -Coinbase Global Inc reported a larger-than-expected quarterly loss as investors worried by this year’s rout in risky assets shied away from trading in cryptocurrencies, sending its shares down 6% after the bell on Tuesday. Trading volumes at the cryptocurrency exchange more than halved to $217 billion in the second quarter, with…
(Reuters) -Commonwealth Bank of Australia posted its highest annual cash earnings in four years on Wednesday, as it rode a first-half surge in home lending amid record low interest rates and booked a loan impairment benefit as COVID-19 risks eased. The results wrapped up a solid fiscal year in which CBA beat out rivals to…
