By Tom Sims and Frank Siebelt FRANKFURT (Reuters) -Germany’s Commerzbank said on Wednesday that its net profit nearly doubled in the first quarter in a better-than-expected result helped by higher interest rates. The bank said it sees “upside potential” in net interest income this year, and raised its forecast to 7 billion euros ($7.7 billion)…
(Reuters) -An investor consortium including U.S. buyout firm Blackstone and Thomson Reuters sold 33 million shares in the London Stock Exchange Group worth about 2.7 billion pounds ($3.41 billion), a bookrunner said on Wednesday. The placing of shares, which was upsized from 28 million, was at a price of 8,050 pence per share, a discount…
By Katya Golubkova, Yuka Obayashi and Kate Abnett TOKYO (Reuters) – Japan’s energy companies were quick to embrace the G7’s support for natural gas investment in their statement last month but analysts caution that relying on the fossil fuel may open the companies up to long-term problems. Resource poor Japan, the world’s biggest buyer of…
SHANGHAI/BEIJING (Reuters) – BYD Co Ltd may be China’s biggest electric vehicle maker by a country mile but it knows it lags rivals in autonomous driving, and has set up a new division and embarked on a huge hiring spree to rectify that shortcoming. Between 4,000 and 5,000 software engineers have been hired recently, BYD…
SHANGHAI/BEIJING (Reuters) – BYD Co Ltd may be China’s biggest electric vehicle maker by a country mile but it knows it lags rivals in autonomous driving, and has set up a new division and embarked on a huge hiring spree to rectify that shortcoming. Between 4,000 and 5,000 software engineers have been hired recently, BYD…
By Dan Peleschuk KYIV (Reuters) – Investigative journalist Oleksandr Tsakhniv spent much of his professional life trying to uncover corruption in Ukraine’s eastern hinterlands where he lived and worked. He was killed in March, aged 37, fighting Russian forces near Bakhmut. Now, his employer says his death could have an impact on the local fight…
(Reuters) – Ukraine said on Tuesday that it downed six Russian hypersonic Kinzhal missiles in a single night, in what would be a major setback for Moscow’s efforts to develop an unstoppable next-generation weapon. It was not clear which air defense system Kyiv used to shoot down the missiles, but last week the U.S. military…
By Tom Westbrook SINGAPORE (Reuters) – The dollar held firm on Wednesday, as traders trimmed bets on imminent U.S. rate cuts following solid consumer spending data, while the greenback also benefitted from its status as a safe-haven so long as risk of a U.S. debt default remained. President Joe Biden and top congressional Republican Kevin…
By Kane Wu HONG KONG (Reuters) – UBS Group AG was rushed into buying cross-town rival Credit Suisse Group AG in a deal it did not want, as a global bank crisis worsened the latter’s finances and prompted authorities to take swift action, a regulatory filing showed. UBS, in a Tuesday filing to the U.S….
BEIJING (Reuters) – China’s new home prices rose for the fourth straight month in April but at a slower pace, heightening fears that pent-up demand after the country’s economic reopening is fading. Economists say more policy stimulus may be needed to ensure the recovery stays on track after a batch of recent data showed imports…
