SINGAPORE/LONDON (Reuters) -HSBC Holdings on Tuesday reported quarterly profit nearly doubled, beating estimates, as rising interest rates swelled net interest income, prompting Europe’s largest bank to offer long-suffering investors a dividend and buyback bonanza. The London-headquartered bank said it intended to pay a special dividend of $0.21 per share, as a priority use of the…
By Ankur Banerjee SINGAPORE (Reuters) – Asian stocks edged lower on Tuesday as the prospect of the U.S. central bank having to stay on its hawkish path weighed on sentiment, with investors looking to the minutes of the latest Federal Reserve meeting for further monetary policy clues. MSCI’s broadest index of Asia-Pacific shares outside Japan…
By Sameer Manekar and Melanie Burton (Reuters) -Global miner BHP Group reported a steeper-than-expected 32% fall in first-half profit owing to a drop in iron ore prices, sending its shares down, although it flagged a brightening outlook in China, its biggest customer. China’s strict zero-COVID-19 policy curtailed economic activity and dented demand over the past…
By Anant Chandak BENGALURU (Reuters) – The Bank of Korea will hold its base interest rate at 3.50% on Thursday and for the rest of this year, suggesting its longest tightening cycle on record is over despite still high inflation, a Reuters poll of economists found. After raising rates by 300 basis points since August…
(Reuters) – Australian grocer Coles Group Ltd on Tuesday posted a jump in first-half profit helped by benefits from its cost reduction program with normalized trading conditions also bringing down pandemic-related costs. Australia has been reeling under red-hot inflation which shot to a 33-year high last quarter, helping supermarkets churn in strong earnings on the…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Flash purchasing manager index reports from Japan and Australia on Tuesday will give an insight into how two of Asia’s biggest economies are performing, as trading volumes return to normal after U.S. markets were closed for Presidents Day….
By Sam Tobin LONDON (Reuters) -Facebook on Monday temporarily fought off a collective lawsuit valued at up to 3 billion pounds ($3.7 billion) over allegations the social media giant abused its dominant position to monetise users’ personal data. However, a London tribunal gave the proposed claimants’ lawyers up to six months to “have another go”…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose over 1% on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers and Russia’s plans to rein in supply. Brent crude was up $1.07, or 1.3%, to $84.07 a barrel by 1:02 p.m. EST (1802 GMT). U.S. West Texas Intermediate crude (WTI)…
LONDON (Reuters) – British supermarket group Asda said on Monday retail director Ken Towle is leaving the business less than ten months after starting the job. Asda, owned since 2021 by brothers Mohsin and Zuber Issa and private equity company TDR Capital, said the departure of Towle, who was responsible for the group’s over 600…
New York (Reuters) – A team of Reuters reporters on Monday won a George Polk Award for reports that revealed the widespread use of child labor among suppliers to Hyundai Motor Co in the U.S. state of Alabama. The series of stories, “Undocumented and Underage,” has prompted at least 10 probes by U.S. and Alabama…
