By Gaurav Dogra (Reuters) – Foreigners turned net buyers of Asian stocks in April, bolstered by rising expectations the U.S. Federal Reserve will pause its aggressive tightening cycle, and by other factors such as a weaker dollar and strong first-quarter company earnings. Data from stock exchanges in India, Indonesia, the Philippines, South Korea, Taiwan, Thailand,…
By Ron Bousso, Shadia Nasralla and Nerijus Adomaitis LONDON/OSLO (Reuters) – Energy giants Shell and Equinor reported higher-than-expected first-quarter profits on Thursday, using the heft of their trading desks to offset lower oil and gas prices. The stronger-than-expected profits from the two companies follow forecast beating results from rivals Exxon Mobil, Chevron and BP over…
NAIROBI (Reuters) – Kenya’s private sector activity fell in April as both the manufacturing and services sectors slowed, with inflation and political unrest leading to a drop in consumer demand and dampening the outlook, a survey showed on Thursday. The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) fell to 47.2 from 49.2 in March. Readings…
(Refiles to fix story formatting) By Matteo Allievi and Victor Goury-Laffont (Reuters) – French IT consulting group Capgemini on Thursday reported weaker revenue growth in the first quarter of 2023, compared with the year-ago period, citing a tense economic environment with clients adopting a “wait-and-watch stance”. Still, the company’s quarterly revenue reached 5.73 billion euros…
LONDON (Reuters) – Goldman Sachs said on Thursday it was “cautious” on Turkish banks heading into the May 14 election, with lenders more vulnerable than the country’s other stocks to a potential post-vote rate hike following years of unorthodox monetary policy. Polls show President Tayyip Erdogan risks losing the landmark election largely due to a…
By Lisa Richwine and Rollo Ross LOS ANGELES (Reuters) -Striking film and television writers met with union leadership on Wednesday, the second day of a work stoppage that has thrown Hollywood into disarray as the industry deals with changes brought on by the streaming TV boom. Members of the Writers Guild of America (WGA) turned…
(Reuters) – Growth in domestic client demand spurred increased activity in Russia’s services sector in April as new export business contracted, a business survey showed on Thursday, with firms’ confidence level rising to its highest since July. The S&P Global Purchasing Managers’ Index (PMI) for Russian services dropped to 55.9 from a 2-1/2-year high of…
By Brendan Pierson NEW YORK (Reuters) -A jury will now decide whether British singer-songwriter Ed Sheeran ripped off Marvin Gaye’s “Let’s Get It On” after hearing closing arguments on Wednesday in a week-long copyright trial. Sheeran’s lawyer, Ilene Farkas, told the jurors in Manhattan federal court that similarities in the chord progressions and rhythms of…
By Marine Strauss BRUSSELS (Reuters) -ArcelorMittal, the world’s second largest steelmaker, said it had a “good growth” in the beginning of the year as it reported higher than expected first-quarter earnings. ArcelorMittal said on Thursday global steel demand, excluding China, should grow in 2023 between 2% and 3%, and maintained its expectation that its own…
By Marine Strauss BRUSSELS (Reuters) -ArcelorMittal, the world’s second largest steelmaker, said it had a “good growth” in the beginning of the year as it reported higher than expected first-quarter earnings. ArcelorMittal said on Thursday global steel demand, excluding China, should grow in 2023 between 2% and 3%, and maintained its expectation that its own…
