By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics Co Ltd said on Friday it would make a “meaningful” cut to chip production, following the lead of smaller rivals, as it grapples with a sharp global downturn in semiconductor demand that has sent prices plummeting. The unusual output cut by the world’s biggest memory…
By Leika Kihara TOKYO (Reuters) – Haruhiko Kuroda delivers his last press conference as Japan’s central bank chief on Friday, ending a decade of unconventional policy that included “bazooka” stimulus and a push to change public perceptions with a wall of money and Peter Pan metaphors. Hand-picked by then premier Shinzo Abe to break Japan…
By Tetsushi Kajimoto and Yoshifumi Takemoto TOKYO (Reuters) – The Bank of Japan (BOJ) should be cautious about changing its unconventional monetary policy for now, given financial market uncertainty due to problems in Western banks, former top financial diplomat Takehiko Nakao told Reuters in an interview. Nakao made the comments amid speculation the BOJ may…
SEOUL (Reuters) – Samsung Electronics Co Ltd reported a likely 96% plunge in first-quarter operating profit on Friday, worse than analysts had forecast, as a chip glut worsened and buyers slowed purchases amid a global economic slowdown. The world’s largest memory chip and TV maker estimated its operating profit fell to 600 billion won ($455.50…
By David Lawder WASHINGTON (Reuters) -The U.S. Internal Revenue Service plans to hire nearly 30,000 new employees and deploy new technology over the next two years as it ramps up an $80 billion investment plan to improve tax enforcement and customer service, it said on Thursday . The tax agency, in its long-awaited Strategic Operating…
By Steve Stecklow, Waylon Cunningham and Hyunjoo Jin LONDON/SAN FRANCISCO (Reuters) – Tesla Inc assures its millions of electric car owners that their privacy “is and will always be enormously important to us.” The cameras it builds into vehicles to assist driving, it notes on its website, are “designed from the ground up to protect…
By Davide Barbuscia NEW YORK (Reuters) -The Federal Reserve’s preferred bond market signal of an upcoming recession has plunged to fresh lows, bolstering the case for those who believe the central bank will soon need to cut rates in order to revive economic activity. Research from the Fed has argued that the “near-term forward spread”…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks reversed an earlier sell-off to close higher on Thursday, and Treasury yields steadied, as investors digested weak labor market data ahead of a U.S. jobs report, seeking signs the Federal Reserve could pause on rate hikes. All three major U.S. stock indexes bounced back, turning green…
By Mike Stone WASHINGTON (Reuters) -The U.S. Government Accountability Office on Thursday denied Lockheed Martin Corp’s protest of the Army contract for the Future Long Range-Assault Aircraft worth as much as a $7.1 billion, awarded to Textron Inc’s Bell helicopter unit over Lockheed’s Sikorsky unit. The U.S. Army “reasonably evaluated Sikorsky’s proposal as technically unacceptable…
By Kanishka Singh WASHINGTON (Reuters) -The United States and Microsoft Corp reached a settlement on Thursday over the tech firm’s apparent violations of sanctions and export controls, which it disclosed voluntarily, the government and the company said. Microsoft has agreed to remit about $3 million to settle its potential civil liability for more than 1,300…
