TOKYO (Reuters) – Japanese electric motor maker Nidec Corp on Monday posted its first quarterly operating loss in a decade, hit by hefty restructuring costs and difficulty in procuring semiconductors and other components. The loss of 24.3 billion yen ($181.01 million) for the January-March quarter compared to an average estimate for a 11.75 billion yen…
By Neil Jerome Morales MANILA (Reuters) – The Philippines on Monday maintained its economic growth targets over the next five years, citing momentum from increased domestic demand and better labour conditions that would allow its economy to withstand external challenges. Gross domestic product (GDP) is targeted to grow by 6.0% to 7.0% this year, slower…
ZURICH (Reuters) -Switzerland’s UBS said on Monday it will retain Christian Bluhm as chief risk officer for the “foreseeable future” as it bolsters controls during the takeover of Credit Suisse. Chief Executive Sergio Ermotti is reshaping the ranks of UBS as it works on integrating Credit Suisse, the 167-year-old Swiss banking rival which it rescued…
ZURICH (Reuters) -Switzerland’s UBS said on Monday it will retain Christian Bluhm as chief risk officer for the “foreseeable future” as it bolsters controls during the takeover of Credit Suisse. Chief Executive Sergio Ermotti is reshaping the ranks of UBS as it works on integrating Credit Suisse, the 167-year-old Swiss banking rival which it rescued…
By Jamie McGeever ORLANDO, Florida (Reuters) -Even though it may surprise some that it’s positive at all, the risk premium on equity over bonds has hit historic lows – a key driver of the recent dash for fixed income. Wall Street has successfully fended off the continued rise in U.S. interest rates and drum beat…
SEOUL (Reuters) -The head of South Korea’s central bank said on Monday some short-term interest rates had fallen more than he had expected, adding it was probably due to a shift in funds en masse in search of quick profit. Bank of Korea Governor Rhee Chang-yong also told reporters the central bank’s monetary policy tightening…
By Ju-min Park (Reuters) – South Korea’s President Yoon Suk Yeol will be seeking U.S. assurances on deterring North Korea when he meets President Joe Biden this week, while the Americans will likely be looking for Yoon’s support for U.S. interests related to China and Russia. The conservative Yoon has made bolstering South Korea’s alliance…
LONDON (Reuters) -HSBC’s most vocal individual activist shareholder Ken Lui on Monday said he had spoken for the first time with the bank’s largest investor, Ping An, about their controversial proposals to spin off the lender’s Asia business. Top management executives of Ping An Asset Management, an investment unit of the Chinese insurer, exchanged views…
By Florence Tan and Mohi Narayan (Reuters) -Oil prices fell more than 1% on Monday as concerns about rising interest rates, the global economy and the outlook for fuel demand outweighed support from the prospect of tighter supplies on OPEC+ supply cuts. Brent crude slipped 91 cents, or 1.11%, to $80.75 a barrel by 0627…
By Chen Lin SINGAPORE (Reuters) – Singapore’s key consumer price gauge rose 5% in March, slightly lower than forecast, official data showed on Monday. The core inflation rate – which excludes private road transport and accommodation costs – rose 5% year-on-year in March, lower than the 5.5% rise seen in February. A Reuters poll of…
