PARIS (Reuters) – U.S. tech giant Microsoft is facing an antitrust complaint filed by three European rivals in the booming cloud computing business, one the plaintiffs said on Thursday. The complaint, filed with the European Union’s competition watchdog months ago, alleges that Microsoft’s contractual and business practices make it costly and difficult for users of…
(Reuters) – IT consulting firm Accenture Plc on Thursday forecast third-quarter revenue above Wall Street’s estimates, thanks to growing demand for its cloud and security-related services as more businesses shift to a hybrid work model. The company expects current-quarter revenue between $15.70 billion and $16.15 billion, compared with analysts’ average estimate of $15.11 billion, according…
PARIS (Reuters) – The Ukraine crisis could knock more than a percentage point off global growth this year and add two and a half percentage points to inflation, the OECD estimated on Thursday, calling for targeted government spending hikes in response. Well-targeted increases in government spending by OECD countries of the order of 0.5% of…
By Ahmad Ghaddar LONDON -Oil prices climbed 4% on Thursday after the International Energy Agency (IEA) said three million barrels a day (bpd) of Russian oil and products could be shut in from next month and despite the U.S. Federal Reserve’s decision to raise interest rates. The supply loss would be far greater than an…
TOKYO (Reuters) -Toyota Motor Corp said on Thursday it is cutting its global vehicle production target in April by 150,000 units to 750,000 as a continued semiconductor shortage and the COVID-19 pandemic bite into the automaker’s production plans. Average monthly global production for the period from April to June would be about 800,000 units, it…
By Makiko Yamazaki (Reuters) -A Toshiba Corp independent director broke ranks with the company board’s public stance on Thursday, saying he would back a resolution at next week’s extraordinary shareholder meeting that could pave the way for a potential buyout deal. The comments from American Raymond Zage, a former Goldman Sachs banker and hedge fund…
-Oil prices climbed about 3% on Thursday after the International Energy Agency (IEA) said markets could lose three million barrels a day (bpd) of Russian crude and refined products from April. The supply loss would be far greater than an expected drop in demand of one million bpd triggered by higher fuel prices, the IEA…
By Leika Kihara and Yoshifumi Takemoto TOKYO (Reuters) – Tightening monetary policy or intervening in the currency market will do little to reverse unwelcome yen declines that inflate already rising fuel and raw material prices, Japan’s former top currency diplomat Hiroshi Watanabe said on Thursday. Japanese policymakers have historically battled sharp yen rises that threaten…
(Reuters) – The Russian central bank will hold a policy meeting on Friday as sanctions over Russia’s invasion of Ukraine leave the country increasingly isolated and devastate its economy. Below are five facts about Russia’s central bank governor Elvira Nabiullina: -An economics graduate of Moscow State University, Nabiullina became the first woman to run a…
BRUSSELS (Reuters) – The European Union will increase tariffs on stainless steel products from India and Indonesia after determining they benefited from unfair subsidies, including some from China under its Belt and Road investment programme. The European Commission, which conducted the investigation, has set the anti-subsidy duties on stainless steel cold-rolled flat products at rates…
