TOKYO (AP) — Japanese automaker Nissan returned to profitability in the last fiscal year for the first time in three years, despite challenges such as supply shortages caused by the pandemic and soaring costs. Nissan Motor Co. reported Thursday a net profit of 215.5 billion yen ($1.7 billion) for the fiscal year through March, a…
By Sam Nussey TOKYO (Reuters) -Japan’s SoftBank Group Corp reported a record $26.2 billion loss at its Vision Fund investment arm on Thursday, as rising interest rates and political instability have whiplashed high-growth tech stocks. The loss was in stark contrast to a year earlier when SoftBank delivered a record annual profit, and it put…
WARSAW, Poland (AP) — A man in a Russian military uniform stood at the entrance of a large home improvement store in Poland’s capital, saluting shoppers and thanking them for funding Russian President Vladimir Putin’s war in Ukraine. His chest bedecked with medals, Polish activist Arkadiusz Szczurek was protesting at a French-owned retailer Leroy Merlin…
HELSINKI (AP) — Finland’s president and prime minister said Thursday they’re in favor of rapidly applying for NATO membership “without delay,” paving the way for the alliance to expand amid Russia’s war in Ukraine. The dramatic move by Finland was announced by President Sauli Niinisto and Prime Minister Sanna Marin. It means that Finland is…
By David Milliken and William Schomberg LONDON (Reuters) – Britain’s economy unexpectedly shrank 0.1% in March after a slump in car sales due to supply-chain problems, marking a weak end to the first quarter of a year when the risk of recession is looming. Gross domestic product grew by 0.8% in the first three months…
MUMBAI (Reuters) -India’s financial crime fighting agency asked a court on Thursday to re-instate a freeze on $725 million in the Indian bank accounts of Xiaomi Corp as it investigates fund transfers by the Chinese smartphone giant. The enforcement directorate had seized the money saying Xiaomi had illegally transferred funds abroad to three entities, including…
BERLIN (Reuters) – Thyssenkrupp and Japan’s NSK are considering forming an automotive joint venture, the German conglomerate said on Thursday, as it continues to explore new ownership models for its key business areas to become leaner. The two companies signed a memorandum of understanding (MoU) to explore a tie-up between Thyssenkrupp’s Automotive Technology division and…
Asian shares bounced back Friday from losses earlier in the week, shrugging off data showing U.S. wholesale prices soared 11% in April from a year earlier. The regional rally followed a mixed and muted close on Wall Street. Oil prices and U.S. futures also were higher. Investors are puzzling over what’s next with inflation and…
By Sam Nussey TOKYO (Reuters) – SoftBank Group Corp reported on Thursday a net loss of 1.7 trillion yen ($13.12 billion) for the year ended in March as the tech investor faces a sliding tech portfolio. The result compared with a record 4.99 trillion yen profit a year earlier, when the boost from the listing…
By Neil Jerome Morales and Enrico Dela Cruz MANILA (Reuters) -Newly-elected Philippine President Ferdinand Marcos Jr. will inherit an economy that has strongly bounced back from the COVID-19 pandemic when he takes office in June, but soaring food and fuel costs will need to be addressed quickly. Southeast Asia’s fifth-largest economy grew a better-than-expected 8.3%…
