COPENHAGEN (Reuters) – Sweden’s Assa Abloy, the world’s biggest lockmaker, on Wednesday reported a smaller drop than expected in first-quarter operating profit following a “very strong” start to the year. Operating profit fell to 3.96 billion crowns from a year-earlier 4.00 billion. Analysts polled by Refinitiv had on average expected a profit of 3.69 billion…
ZURICH (Reuters) – Swiss financial regulator FINMA has labelled the recovery and resolution plans of two of Switzerland’s five systematically important banks as insufficient, it said on Wednesday. FINMA questioned the ability of Zuercher Kantonalbank (ZKB) and PostFinance to continue functioning in case they experienced a crisis. It said “ZKB has not yet built up…
BERLIN (Reuters) – German consumer sentiment is set to pick up in May as moderating energy prices and expected wage increases help to dissipate households’ initial fears about a loss in purchasing power, a GfK institute survey showed on Wednesday. The institute’s consumer sentiment index improved to -25.7 heading into May from a slightly upwardly…
(Reuters) – Canadian miner Teck Resources Ltd, the target of an unsolicited takeover bid by Swiss commodities giant Glencore, narrowly missed estimates for first-quarter profit on Wednesday. Teck reported an adjusted profit of C$1.81 per share for the three months ended March 31, compared with the average analyst estimate of C$1.82, according to Refinitiv IBES…
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -South Korean display panel maker LG Display on Wednesday pinned hopes for a second-half turnaround on the tech sector replenishing depleted inventories after racking up a fourth straight quarterly loss that trailed estimates. Amid depressed global demand for devices like computers and monitors, LG Display slumped to…
By Anant Chandak BENGALURU (Reuters) – Gulf Cooperation Council (GCC) economies will grow at a much slower pace in 2023 than last year as expectations for muted gains in crude prices and oil production cuts take a toll on revenues, a Reuters poll found. Oil prices have spiked nearly 20% since they hit this year’s…
By Luc Cohen, Jack Queen and Jonathan Stempel NEW YORK (Reuters) – E. Jean Carroll’s accusation that Donald Trump raped her was not a “he said, she said” dispute, a lawyer representing the writer told jurors on Tuesday as a civil trial over the former U.S. president’s conduct nearly three decades ago got under way….
(Reuters) -Two U.S. senators will introduce a bipartisan bill on Wednesday requiring the Supreme Court to create a code of conduct for its justices following recent media questions concerning the full disclosure of some financial activities, the Wall Street Journal reported. The bill being introduced by Angus King and Lisa Murkowski, called the Supreme Court…
(Reuters) -Montana Governor Greg Gianforte is seeking to broaden a bill that will ban not just TikTok, but other social media applications that provide certain data to foreign adversaries, the Wall Street Journal reported on Tuesday. Earlier this month, Montana lawmakers passed a bill, known as SB 419, to ban TikTok, which is owned by…
By Zeba Siddiqui SAN FRANCISCO (Reuters) – Ukraine is working with the U.S. Federal Bureau of Investigation and American companies to collect evidence of war crimes by Russians, such as geolocation and cellphone information, senior officials said on Tuesday. Ukrainian authorities are collecting digital information from battlefields and Ukrainian towns ravaged by the war since…
