By Joyce Lee and Heekyong Yang SEOUL (Reuters) – Samsung Electronics Co Ltd flagged on Friday its quarterly profit tumbled by two-thirds to an eight-year low as a weakening global economy hammered memory chip prices and curbed demand for electronic devices. The dismal profit estimate by the world’s largest memory chip, smartphone and TV maker…
By Kaori Kaneko and Tetsushi Kajimoto TOKYO (Reuters) – Japan reported on Friday its worst real-wage decline in more than eight years, with November data highlighting the elusiveness of the central bank’s objective of reinforcing inflation and the economy with sustained rises in workers’ pay. The 3.8% annual fall in inflation-adjusted wages heightens the urgency…
By Kantaro Komiya TOKYO (Reuters) – Consumer prices in Japan’s capital likely rose in December at the fastest pace in nearly 41 years, a Reuters poll of economists showed on Friday, as the market looks to inflation data for clues on a possible shift in monetary policy. The core consumer price index (CPI) in Tokyo,…
SHANGHAI (Reuters) -Tesla cut car prices in China for the second time in less than three months on Friday, deepening its discounts in the world’s largest auto market as competition picks up and the demand outlook darkens. The latest cut, along with a reduction in October as well as various incentives that amount to as…
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics Co Ltd flagged on Friday its quarterly profit tumbled to an eight-year low as a weakening global economy hammered memory chip prices and curbed demand for electronic devices. Profits at the world’s largest memory chip, smartphone and TV maker are expected to shrink again in…
By Clare Jim, Xie Yu and Rae Wee HONG KONG (Reuters) – China’s deeply troubled property sector is set to see home sales fall for the second straight year in 2023, but the pace of declines will ease thanks to state support measures and the lifting of the government’s strict anti-COVID policies. Property sales are…
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics Co Ltd reported on Friday a likely 69% plunge in December-quarter operating profit to an eight-year low, as a global economic downturn saps demand for electronic devices and clouds the memory-chip industry outlook. The world’s largest memory chip, smartphone and TV maker estimated its profit…
(Reuters) – From a failed merchandising strategy to activist investor pressure over overpayed executives, Bed Bath & Beyond Inc has been on a largely downhill ride over the last few years. The company said on Thursday it was exploring options including a bankruptcy, which sources told Reuters could come within weeks. Here’s a look at…
(Reuters) – U.S. authorities are investigating the chief engineer of bankrupt crypto exchange FTX, Nishad Singh, ratcheting up pressure on founder Sam Bankman-Fried’s inner circle, Bloomberg News reported on Thursday, citing people familiar with the matter. Singh could be charged as soon as this month if federal prosecutors in Manhattan find he played a role…
NEW YORK (Reuters) -Deutsche Bank AG appointed Michael Heaney, a retired Morgan Stanley executive, as chairman of its U.S. arm, the German bank said on Thursday. Heaney had a three-decade career at Morgan Stanley, ultimately rising to become its global co-head of fixed income sales and trading while serving on its management committee. The executive…