PRAGUE (Reuters) – Czech carmaker Skoda Auto, part of the Volkswagen group, lifted operating profit by 60.8% year-on-year to 542 million euros ($598 million) in the first quarter, while revenue rose by a third to 6.8 billion euros, the company said on Monday. Global deliveries increased in the period by 12.6%, which Skoda had previously…
By Khalid Abdelaziz and El Tayeb Siddig PORT SUDAN, Sudan (Reuters) – Hanadi Al-Sir was among thousands who rushed to Port Sudan, hoping to get on a boat or a plane to escape fierce fighting between the army and rival paramilitary forces. Ten days later she is still camped out in the sweltering heat at…
By Tom Westbrook and Alun John SINGAPORE/LONDON (Reuters) – Sterling hit an over-one-year high against the dollar on Monday as the greenback began the week under pressure, with traders betting it might have peaked along with U.S. interest rates while keeping a wary eye on looming inflation and loans data. The pound poked its head…
By Selena Li HONG KONG (Reuters) -HSBC has agreed to buy out its China fund management joint venture partner, two people familiar with the matter said, as the Asia-focused bank pushes ahead with expansion in the world’s second-largest economy. HSBC, which currently owns a 49% stake in HSBC Jintrust Fund Management, has signed an agreement…
By Chibuike Oguh NEW YORK (Reuters) – KKR & Co Inc said on Monday its after-tax distributable earnings fell 26% year-on-year in the first quarter due to a sharp drop in asset sales from its private equity portfolio and lower transaction fees. KKR and other private equity firms cashed out on fewer investments during the…
By Luc Cohen and Hannah Lang (Reuters) – Former U.S. President Donald Trump will not testify at a civil trial to challenge claims made by writer E. Jean Carroll that he raped her in the 1990s and later defamed her, after letting a Sunday deadline pass without asking the court to appear. Trump’s attorney Joseph…
BEIRUT/DAMASCUS (Reuters) – Syrian factions have given mixed reactions to an Arab League decision to lift the suspension on Syria’s membership after more than a decade of isolation, underscoring the deep rifts cut into the country by years of bloodshed. The decision on Sunday by foreign ministers of Arab League countries consolidates a regional push…
(Reuters) – Shares of U.S. regional banks gained sharply in premarket trading on Monday, as investors tiptoe back into the sector after the failure of First Republic Bank last week triggered another round of widespread sell-off. The collapse of three U.S. lenders in two months has sent shockwaves through the sector, with investors dumping shares…
By Yousef Saba DUBAI (Reuters) – Standard Chartered Chief Executive Bill Winters said on Monday he sees a big recession in the United States as unlikely, although a period of negative growth was possible. “I think it’s less the question of a massive decline in the U.S. – I think that’s very, very unlikely,” Winters…
By Roger Tung and Faith Hung TAIPEI (Reuters) – Taiwan’s exports exceeded analyst forecasts but still contracted for the eighth straight month in April, as demand for its tech products remained soft, especially from its biggest market China. Exports last month were down 13.3% by value from a year earlier at $35.96 billion, the Ministry…
