By Sudarshan Varadhan (Reuters) -Oil prices edged ahead for a second session on Friday, buoyed by stronger-than-expected U.S. economic growth and hopes of a rapid recovery in Chinese demand as COVID-19 cases and deaths plunged from last month’s peak levels. Brent futures gained 18 cents, or 0.2%, to $87.65 a barrel by 0724 GMT, while…
(Corrects the eighth paragraph to say overstated, not understated) By Satoshi Sugiyama and Tim Kelly TOKYO (Reuters) -Toyota Motor Corp chief Akio Toyoda is set to remain a dominant force inside the world’s largest automaker for years to come, and will continue to influence the agenda after stepping down in April, experts and people familiar…
By Aditi Shah NEW DELHI (Reuters) -Air India will on Friday seal half of an order for some 495 jets with Boeing and engine suppliers General Electric and CFM International, industry sources said, as its new owner seeks to revive the airline and compete with larger rivals. After months of closely guarded, tough negotiations, Air…
By Ankur Banerjee SINGAPORE (Reuters) – Asian stocks rose on Friday and were poised for their fifth straight week of gains after data highlighted a resilient U.S. economy, boosting investor sentiment ahead of next week’s slate of central bank policy meetings. MSCI’s broadest index of Asia-Pacific shares outside Japan rose as much as 0.55% to…
(Reuters) – Billionaire U.S. investor Bill Ackman said on Thursday that he found short-seller Hindenburg Research’s report on India’s Adani Group “highly credible and extremely well researched.” Shares in seven listed group companies of Adani lost $10.73 billion in market capitalization in India on Wednesday after the U.S. short-seller released the report, which accused the…
TOKYO (Reuters) – Japan and the Netherlands will join the United States in implementing export controls on semiconductor manufacturing equipment to China soon, Bloomberg News reported on Friday. The trilateral talks are set to conclude as early as Friday U.S. time, the report said, citing people familiar with the matter. The Netherlands would expand restrictions…
By Mohi Narayan NEW DELHI (Reuters) – The rapid take-up of electric vehicles in India’s fledgling market has prompted a major rethink about the country’s long-term fuel needs as refiners in Asia’s third-largest economy hasten their shift away from oil production. India, one of the world’s fastest growing oil markets, has lagged major economic peers…
(Reuters) – Wells Fargo & Co Chief Executive Officer Charles Scharf’s total compensation for 2022 was unchanged at $24.5 million, the Wall Street bank said in a regulatory filing on Thursday. Scharf’s compensation consisted of $2.5 million in base salary, $5.4 million in cash incentive, $10.8 million long-term performance share award and $5.8 million in…
By Jane Lanhee Lee and Chavi Mehta (Reuters) – Intel Corp said on Thursday it expects to lose money in the current quarter, surprising investors with a bleaker-than-expected outlook for both the PC market and slowing growth in its key data center division. The company’s shares fell 9.5% in trading after the bell. “We stumbled,…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Spurred by a solid rally on Wall Street after upbeat U.S. economic growth data on Thursday, Asian stocks on Friday are set to continue their remarkable run and chalk up a fifth weekly rise in a row. Investors…
