(Reuters) – Drugstore chain Walgreens Boots Alliance Inc reported a net quarterly loss on Thursday as it took a $6.5 billion opioid litigation charge, sending its shares down nearly 2% in premarket trade. Walgreens and rivals CVS Health Corp and Walmart Inc in November last year agreed to pay about $13.8 billion to resolve thousands…
By Joseph White LAS VEGAS (Reuters) – Chinese automakers can build an electric vehicle (EV) for 10,000 euros ($10,618) less than European automakers, an overwhelming cost advantage that will put pressure on European manufacturers in their home market, the head of auto supplier Forvia said. As European consumers seek cheap EVs, Forvia Chief Executive Patrick…
By Sarah Wu and Yimou Lee TAIPEI (Reuters) -Taiwan’s Foxconn, the world’s largest contract electronics maker, said on Thursday output at its iPhone plant in China had “basically returned to normal” and December revenue, down 12.3% year-on-year, marked the start of a recovery. Production of Apple iPhones faced disruption ahead of Christmas and January’s Lunar…
SHANGHAI (Reuters) – Tesla Inc delivered 55,796 China-made electric vehicles in December, according to the data from China Passenger Car Association on Thursday. The number marks a 44% drop from November and is 21% fewer than a year earlier as the U.S. automaker reduced output and cut prices to deal with pressures of rising inventory…
KYIV (Reuters) -Ukraine’s gross domestic product fell by 30.4% in 2022 – the largest annual fall in over 30 years – because of the war with Russia, Economy Minister Yulia Svyrydenko said on Thursday. Svyrydenko, who is also first deputy prime minister, said in a statement that Ukraine’s economy had suffered its largest losses since…
SHANGHAI (Reuters) – Standard Chartered Plc’s China unit said it had become the first foreign bank to trade treasury bond futures in the country which is deregulating capital markets. The move comes as China steps up efforts to draw global investors amid months of foreign money outflows from its $20-trillion bond market. In a statement…
A look at the day ahead in European and global markets from Ankur Banerjee The eagerly-anticipated Fed minutes arrived and failed to surprise, with markets broadly shrugging off the hawkish tone and still pining for a rate cut sometime this year. Asian shares continue their bright start to the year with investors pinning their hopes…
By Jeslyn Lerh and Stephanie Kelly SINGAPORE (Reuters) -Oil prices rebounded on Thursday amid dollar weakness and as investors emerged to buy dips after two sessions of steep losses, though economic concerns capped recovery. Brent crude futures had climbed 75 cents, or 1.0%, to $78.59 a barrel by 0400 GMT, while U.S. West Texas Intermediate…
(Reuters) – Dell Technologies Inc plans to stop using China-made chips by 2024 and has told suppliers to reduce the amount of other made-in-China components in its products amid concerns over U.S.-Beijing tensions, Nikkei reported on Thursday. The computer maker told suppliers late last year that it aims to meaningfully lower the amount of China-made…
By Tom Westbrook SINGAPORE (Reuters) – Asian shares rose on Thursday on investor hopes for China’s emergence from the COVID-19 pandemic, while the dollar stayed under pressure even as the U.S. Federal Reserve had a warning against market bets on interest rate cuts this year. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1%…
