STOCKHOLM (Reuters) – Ericsson on Wednesday laid out plans to restructure its operating units to focus on mobile infrastructure and business customers, and announced that two senior executives will leave the company. A new business unit was created by merging digital services and managed services to increase its cloud expertise and build products for automation…
BRUSSELS (AP) — NATO envoys failed to reach a consensus Wednesday on whether to start membership talks with Finland and Sweden, diplomats said, as Turkey renewed its objections to the two Nordic countries joining. The envoys met at NATO headquarters in Brussels after Finland and Sweden’s ambassadors submitted written applications to join the military organization,…
LONDON (AP) — Britain’s inflation rate rose to the highest level in 40 years last month as Russia’s war in Ukraine fueled further increases in food and fuel prices. Consumer price inflation accelerated to 9% in the 12 months through April, up from 7% the previous month, the Office for National Statistics said Wednesday. That…
LONDON (Reuters) -British consumer price inflation hit an annual rate of 9.0% in April, the highest since official estimates began in the late 1980s, data showed on Wednesday. A Reuters poll of economists had pointed to a reading of 9.1%. The Office for National Statistics said consumer price inflation was probably last higher sometime around…
By Heekyong Yang SEOUL (Reuters) -Hyundai Motor Group said on Wednesday it plans to invest a total of 21 trillion won ($16.54 billion) through 2030 for the expansion of its electric vehicle (EV) business in South Korea. The South Korean auto group, which houses Hyundai Motor Co and Kia Corp, plans to annually build 1.44…
TOKYO (AP) — Shares dropped sharply in Asia on Thursday after a broad retreat on Wall Street triggered by dismal results from major retailer Target that renewed worries over the impact of high inflation. Hong Kong’s Hang Seng led the declines, dropping 3.1%, while Tokyo’s Nikkei 225 index was 2.7% lower. The Dow Jones Industrial…
By Sam Nussey TOKYO (Reuters) – Japanese conglomerate Sony Group Corp said it is well-positioned to play a leading role in the metaverse, or immersive virtual worlds, which commentators speculate will massively disrupt industries and establish new powerhouses. The metaverse is a vague term encapsulating the idea that consumers will spend more time in online…
TOKYO (AP) — Japan’s economy shrank at a worse than expected annual rate of 1% in the first quarter, as rising prices and COVID-19 restrictions sapped spending and investment, according to data released Wednesday. Japan’s real gross domestic product, or GDP, the sum of the value of a nation’s products and services, contracted 0.2% in…
TOKYO (Reuters) – Toyota Motor Corp is using well water at its factories to avoid the impact of an industrial water supply disruption in central Japan, a spokesperson said on Wednesday. A leakage at a water facility in the Aichi prefecture has disrupted industrial water supply, affecting more than 130 business establishments, local government officials…
SHANGHAI (Reuters) – Shanghai authorities issued a new ‘white’ list containing 864 financial institutions, allowing them to resume work, three sources with direct knowledge of the matter said on Wednesday. The move is part of the financial hub’s plan to reopen broadly and allow normal life to resume after a nearly two-month-long lockdown that halted…
