By Markus Wacket BERLIN (Reuters) – The German government will have to amend its energy security law again in September as its gas levy cannot yet be imposed on all consumers, including those with fixed prices contracts, government and parliamentary sources told Reuters on Wednesday. A gas levy, which had been set to come into…
By Danilo Masoni and Kevin Buckland MILAN/TOKYO (Reuters) – World stocks eased slightly on Wednesday as markets weighed risks from U.S. House Speaker Nancy Pelosi’s visit to Taiwan and comments from Federal Reserve officials talking up the chance of aggressive interest rate hikes. MSCI’s benchmark for global stocks < .MIWD00000PUS> dipped by 0.1% by 0823…
COLOMBO, Sri Lanka (AP) — Sri Lanka’s new president said Wednesday that his government is preparing a national policy roadmap for the next 25 years that aims to cut public debt and turn the country into a competitive export economy as it seeks a way out of its worst economic disaster. President Ranil Wickremesinghe in…
By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Germany’s Commerzbank swung on Wednesday to a bigger-than-expected second-quarter net profit, helped by higher interest rates and commission income, and confirmed it was on track to meet its profit target despite “clouds” on the horizon. The return to profit at Germany’s No. 2 bank is a…
BEIJING (AP) — China blocked imports of citrus, fish and other foods from Taiwan in retaliation for a visit by a top American lawmaker, Nancy Pelosi, but has avoided disrupting one of the world’s most important technology and manufacturing relationships. The two sides, which split in 1949 after a civil war, have no official relations…
By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Germany’s Commerzbank swung on Wednesday to a bigger-than-expected second-quarter net profit, helped by higher interest rates and increased commission income, and confirmed it was on track to meet its profit target this year. The return to profit at Germany’s No. 2 bank is a victory for…
BERLIN (Reuters) – BMW saw a drop in its automotive margin on earnings before interest and taxes to 8.2% from 15.8% last year as the consolidation of its Chinese joint venture BMW Brilliance dampened earnings, it said on Wednesday. The carmaker reported a group net profit of 3.05 billion euros ($3.10 billion) from 4.8 billion…
TOKYO (AP) — Asian shares mostly rose Thursday as investors welcomed encouraging economic data and quarterly earnings reports from big companies. Benchmarks rose across the region, including Japan, China, Australia and South Korea. The gains followed a strong rally on Wall Street. Jitters eased over the visit of U.S. House Speaker Nancy Pelosi to Taiwan…
By Satoshi Sugiyama TOKYO (Reuters) – Toyota Motor Corp is expected to report a double-digit drop in first-quarter profit this week, as a chip shortage and supply-chain woes forced the world’s top automaker by sales to repeatedly slash production targets. The Japanese car maker cut its monthly production targets three times during the April-June first…
By Cynthia Kim SEOUL (Reuters) – South Korea’s residential property prices are likely to drop by up to 2.8% in two years with a full percentage point hike in policy interest rate, according to a research paper by the central bank on Wednesday. While other variables including the size of new apartment supplies and mortgage…
