By Makiko Yamazaki and Mayu Sakoda TOKYO (Reuters) -Japan’s Toshiba Corp cut its annual earnings estimate after third-quarter profit slumped and its chief operating officer resigned over the inappropriate use of entertainment expenses. The weak performance and the departure of Goro Yanase come at a time when the scandal-ridden industrial conglomerate is assessing a binding…
By Sudipto Ganguly MUMBAI (Reuters) -Indian Prime Minister Narendra Modi’s party has “nothing to hide or be afraid of” on the controversy over Adani group, the home minister said on Tuesday, responding to opposition allegations of favouring the conglomerate attacked by a U.S. short seller. Led by billionaire Gautam Adani, the business house’s seven listed…
BERLIN (Reuters) -Ford plans to cut 3,800 product development and administration jobs in Europe in the next three years, the company said on Tuesday, citing rising costs and the need for a leaner structure as it pivots production to electric vehicles. Around 2,300 jobs will go at the carmaker’s Cologne and Aachen sites in Germany,…
By Huw Jones LONDON (Reuters) -Britain on Tuesday will set out draft legislation to regulate “buy now pay later” credit, saying the sector posed potential harm to consumers without thorough affordability checks. BNPL companies are largely unregulated and typically offer on-the-spot interest-free short-term loans that spread payments for retail goods like clothing. The sector nearly…
By Tom Sims and John O’Donnell FRANKFURT (Reuters) – For years, Allianz, one of the world’s biggest investors, piled billions into property, wind farms and even London’s sewage system, but now it is moving to shun such “alternative” investments for plain vanilla bonds, people with knowledge of the matter said. The German company’s new approach…
TOKYO (Reuters) – Japan’s Toshiba Corp on Tuesday reported an 87.5% drop in third-quarter operating profit and cut its full-year earnings estimate for a second time. It also said Chief Operating Officer Goro Yanase had resigned over the inappropriate use of entertainment expenses in 2019 when he was an executive at Toshiba Energy Systems and…
By Ankur Banerjee SINGAPORE (Reuters) – The dollar was broadly lower on Tuesday ahead of a keenly anticipated inflation report, while the yen strengthened as surprise pick Kazuo Ueda was nominated to be the next governor of Bank of Japan. Markets are looking to the U.S. consumer price index (CPI) data for further clues on…
