(Reuters) -CIBC reported a decline in second-quarter profit on Thursday, as the Canadian lender set aside higher provisions to prepare for soured loans due to a challenging economy. The results follow those of peers Bank of Montreal and Bank of Nova Scotia on Wednesday that missed expectations, weighed down by higher provisions, slower top-line growth…
By Michael Kahn, Robert Muller and Anna Koper PRAGUE/WARSAW (Reuters) – Central European companies are scouting out locations, signing contracts and launching projects deep in war-torn Ukraine, seeking a foothold for future reconstruction work that could be worth hundreds of billions of dollars. While most current projects are focused on essential infrastructure damaged or destroyed…
By Svea Herbst-Bayliss and Greg Roumeliotis NEW YORK (Reuters) -Activist investor Carl Icahn is set to win enough Illumina Inc shareholder support to install at least one of his three nominees to the gene sequencing machine maker’s board, two people familiar with the matter said on Wednesday. A preliminary vote tally shows that Icahn nominee…
By Svea Herbst-Bayliss and Greg Roumeliotis NEW YORK (Reuters) -Activist investor Carl Icahn is set to win enough Illumina Inc shareholder support to install at least one of his three nominees to the gene sequencing machine maker’s board, two people familiar with the matter said on Wednesday. A preliminary vote tally shows that Icahn nominee…
By Ron Bousso and Sabrina Valle LONDON (Reuters) – Chevron has launched a sale process for its oil and gas assets in Congo as the U.S. energy giant continues to focus operations on newer and more profitable production, industry sources said. The Congo assets could fetch up to $1.5 billion, according to two sources close…
By Naomi Rovnick and Libby George LONDON (Reuters) – Rivalry with China, fallout from Russia’s war in Ukraine and wrangling once again in Washington over the U.S. debt ceiling have put the dollar’s status as the world’s dominant currency under fresh scrutiny. Russia’s sanctions-imposed exile from global financial systems last year also fuelled speculation that…
BANGKOK (Reuters) – The United States has declined to sell its F-35 stealth fighter jets to Thailand over issues with training and technical requirements, the Southeast Asian country’s air force said on Thursday. Thailand, which was designated a Major Non-NATO Ally by the United States in 2003, had last year set aside a 13.8 billion…
BERLIN (Reuters) -German Economy Minister Robert Habeck’s constituency office said on Thursday it had received an envelope containing a white substance, prompting a large-scale police operation. After a preliminary examination police believe the substance was merely finely-ground sand, a spokesperson said, pending a full investigation of the incident. Employees of Habeck’s office in Flensburg, near…
TOKYO (Reuters) – Japan’s government raised its overall view of the economy for the first time in ten months in May, after recent data showed the country emerged from recession in the first quarter amid a post-COVID consumption rebound. The Cabinet Office also upgraded its assessment of consumer spending, exports and factory output, suggesting economic…
By Phuong Nguyen HANOI (Reuters) -Vietnamese electric vehicle (EV) maker VinFast said it is recalling all of the first batch of vehicles it shipped to the United States last year following a safety warning issued by U.S. authorities. The move came after the U.S. National Highway Traffic Safety Administration (NHTSA) said 999 of VinFast’s VF…
