By Tom Westbrook SINGAPORE (Reuters) – The dollar held firm at a 20-year high on Friday and was poised to score its best monthly gain in a decade, buoyed by bets on rising U.S. interest rates and doubts about growth in Europe and China. The latest uptick was thanks to the Bank of Japan, which…
By Florence Tan SINGAPORE (Reuters) – Oil edged lower on Friday as China’s COVID-19 lockdowns weighed on the outlook for crude demand, although supply disruption fears as Western sanctions curb crude and products exports from Russia underpinned prices. Brent crude futures dipped 4 cents to $107.55 a barrel by 0040 GMT after rising 2.1% in…
By Paresh Dave and Nivedita Balu OAKLAND, Calif. (Reuters) -Apple Inc on Thursday forecast bigger problems as COVID-19 lockdowns snarl production and demand in China, the war in Ukraine dents sales and growth slows in services, which the iPhone maker sees as its engine for expansion. Shares were down 2.2% in late trade after executives…
By Anshuman Daga SINGAPORE (Reuters) -Singapore lenders DBS Group and OCBC both reported 10% declines in their quarterly profits from record performances a year ago, with their wealth management businesses hit by weaker markets. “Geopolitical developments in recent weeks have created macroeconomic headwinds and financial market volatility,” DBS Chief Executive Piyush Gupta, said in a…
OMAHA, Neb. (Reuters) – One of Berkshire Hathaway’s longest-serving directors on Thursday gave a full-throated endorsement to Greg Abel as designated successor to Warren Buffett when the billionaire steps down. “He has the total confidence not only of Warren, but the board,” Ronald Olson, a close confidante of Buffett and a Berkshire director since 1997,…
SINGAPORE (Reuters) – DBS Group Holdings reported a 10% decline in quarterly profit after net income at Southeast Asia’s largest lender fell 3%, with weaker markets weighing on its wealth management business and treasury market activities. The Singapore-based lender’s net profit fell to S$1.8 billion ($1.30 billion) in January-March from a record S$2 billion a…
ALBUQUERQUE, N.M. (AP) — The federal government has finished another environmental review of a proposed transmission line that will carry wind-generated electricity from rural New Mexico to big cities in the West and similar reviews are planned for two more projects that would span parts of Utah and Nevada, the U.S. Interior Department announced Thursday….
By Jeffrey Dastin and Tiyashi Datta (Reuters) -Amazon.com Inc delivered a disappointing quarter and outlook on Thursday as the e-commerce giant was swamped by higher costs to run its warehouses and deliver packages to customers. Shares fell 12% in after-hours trade. After a long-running surge in sales during the COVID-19 pandemic, Amazon is facing a…
NEW YORK (AP) — Amazon reported its first quarterly loss since 2015 on Thursday, its money-making juggernaut stalled by a slowdown in pandemic-induced online shopping and a huge write-down of its investment in an electric-vehicle startup. The Seattle-based e-commerce giant’s stock fell 9% in after-hours trading. Amazon reported a loss of $3.84 billion, or $7.56…
SACRAMENTO, Calif. (AP) — California’s attorney general on Thursday subpoenaed ExxonMobil as part of what he called a first-of-its-kind broader investigation into the petroleum industry for its alleged role in causing a global plastic pollution crisis, allegations that the company called meritless. Attorney General Rob Bonta said the industry for decades has encouraged the development…
