TOKYO (Reuters) – Rising prices for raw materials, including nickel and copper, accelerated by Russia’s invasion of Ukraine were having a “big” impact on Panasonic Corp, with the Japanese industrial giant only able to pass on some of those increases to its customers, the CEO said. “We are able to pass on costs to some…
The head of the European Central Bank reiterated Thursday that the bank would raise interest rates “some time after” ending its pandemic stimulus efforts later this year, sticking to a gradual path even as the United States, United Kingdom and other countries take a harder line to combat soaring consumer prices. People in the 19…
MILAN (Reuters) – Shares in Atlantia rose more than 5% on Thursday after Italy’s Benetton family and U.S. investment fund Blackstone tabled their offer to buy out investors in the airport and motorway operator and take it private. The offer’s price of 23 euros a share represents a premium of 36.3% over the Atlantia’s share…
By Supantha Mukherjee STOCKHOLM (Reuters) -Swedish telecom provider Ericsson said on Thursday it would likely be fined by U.S. regulators for its handling of a bribery investigation in Iraq and reported a slide in quarterly earnings due to its suspension of business in Russia. The company disclosed in February that an internal investigation had found…
By Mohi Narayan NEW DELHI -Oil prices slipped on Thursday amid thin trading volumes ahead of a public holiday, as traders weighed a larger-than-expected build in U.S. oil stocks against tightening global supply. Brent futures were down $1.14, or 1.1%, at $107.64 a barrel, while U.S. West Texas Intermediate futures were off $1.32, or 1.3%,…
TOKYO (Reuters) – Clothing brand Uniqlo’s Japanese owner said on Thursday first-half operating profit climbed 18%, even as COVID-19 lockdowns in China hampered sales in its biggest overseas market. Fast Retailing Co said operating profit was 189 billion yen ($1.51 billion) in the six months through February, against 168 billion yen a year earlier. The…
TOKYO (AP) — Asian shares fell in muted trading as markets were closed for Good Friday and other holidays. Benchmarks declined in Tokyo, Seoul and Shanghai. Sydney, Sydney, Manila, Bangkok and Hong Kong were among markets observing holidays on Friday. U.S. and European markets also were closed. Shutdowns in major Chinese cities due to coronavirus…
MILAN (Reuters) -The holding company of Italy’s Benetton family and U.S. investment fund Blackstone will spend up to 12.7 billion euros ($14 billion) to buy out other investors in Atlantia and take the airport and motorway operator private. In a statement, the two partners said they would offer 23 euros a share, which represents a…
STOCKHOLM (Reuters) – Sweden’s Ericsson, under fire over its handling of a bribery investigation in Iraq, on Thursday reported a fall in first-quarter core earnings, hurt by a delay in recording a large software contract and a provision related to suspension of business in Russia. The company’s quarterly adjusted operating earnings fell to 4.7 billion…
By Sinead Cruise and Carolina Mandl WASHINGTON/NEW YORK (Reuters) – Russian companies and global banks including BNY Mellon, Deutsche Bank, Citigroup and JPMorgan could profit if Moscow moves to de-list Russian companies’ depositary receipts from foreign exchanges, according to two people familiar with the matter. The potential windfall is due to the fees that bank…
