By Jihoon Lee and Choonsik Yoo SEOUL (Reuters) -South Korea’s consumer inflation quickened far more than forecast and hit a more than 13-year high in April, boosting expectations in the bond market for more central bank interest rate rises this year. The Statistics Korea data showed the consumer price index (CPI) rose 4.8% in April…
(Reuters) -Logitech International reported a 20% drop in sales for its fourth quarter on Tuesday, as the computer mice, webcam and keyboard maker lapped high comparables from a year earlier. Sales fell to $1.23 billion for the three months to the end of March from $1.54 billion a year earlier, when sales were massively boosted…
(Reuters) – Logitech International reported a 20% drop in sales for its fourth quarter on Tuesday, as the computer mice, webcam and keyboard maker lapped high comparables from a year earlier. Sales fell to $1.23 billion for the three months to the end of March from $1.54 billion a year earlier, when sales were massively…
By Sinead Cruise LONDON (Reuters) -The sudden fall in European shares driven by a brief crash in Nordic markets was caused by a single sell order trade by Citigroup Inc, people familiar with the matter told Reuters, and confirmed by Citi. The flash-crash, which caused European shares to suddenly fall on a day of holiday-thinned…
(Reuters) – Australia’s Woolworths Group said on Tuesday its domestic supermarkets and discount department stores were experiencing strong trading momentum in the current quarter, but flagged stocking issues due to supply chain disruptions. The company posted a near 10% jump in its third-quarter sales at A$15.12 billion ($10.66 billion) on a continuing operations basis, as…
More than 1,000 workers at two CNH Industrial plants went on strike Monday in search of a better deal with the company that makes agriculture and construction equipment. The United Auto Workers union said the workers in Racine, Wisconsin, and Burlington, Iowa, went on strike at noon after contract talks faltered. The action follows a…
By Tina Bellon (Reuters) -Electric carmaker Rivian Automotive Inc will receive $1.5 billion in state and local incentives and tax credits for the electric vehicle assembly plant it plans to build in Georgia, the state and company said on Monday. The $5 billion plant is expected to employ some 7,500 workers once up and running….
By Karen Brettell NEW YORK (Reuters) – The dollar held just below a 20-year high against a basket of currencies on Monday before an expected Federal Reserve rate hike this week, with traders focused on the potential for the U.S. central bank to adopt an even more hawkish tone than many expect. The Fed has…
By Nick Carey (Reuters) – Data shows there is enough nickel and lithium to produce up to 14 million electric vehicles (EVs) globally in 2023, so Europe should secure more raw materials to shift away from oil faster, campaign group Transport and Environment (T&E) said on Tuesday. In a study based on BloombergNEF data on…
By Liz Hampton and Arunima Kumar (Reuters) -U.S. shale producers Devon Energy, Diamondback Energy and Coterra Energy on Monday reported sharp increases in profit that beat Wall Street estimates, but held production plans steady as they stressed a focus on shareholder returns. U.S. oil and gas producers are facing a windfall from higher energy prices,…
