HONG KONG (Reuters) – Chinese electric vehicle giant BYD Co LTD forecast strong growth in its six-month net profit on Friday, buoyed by robust car sales and increased market share. Net profit for the first six months of the year would rise as much as 225.4% to 11.7 billion yuan ($1.64 billion) from 3.6 billion…
ISTANBUL (Reuters) – Turkish President Tayyip Erdogan said on Friday that he is in agreement with Russian President Vladimir Putin that a deal allowing the Black Sea export of Ukraine grain should be extended. Speaking to reporters, Erdogan said that the deal will hopefully be extended from its current July 17 deadline as results of…
July 14 (Reuters) – Canadian factory sales grew by 1.2% in May from April on higher sales of chemical products, as well as motor vehicles, Statistics Canada said on Friday. Excluding vehicles and parts, manufacturing sales were up 0.7%. Month/month change (%) May Apr(rev) Apr(prev) Sales +1.2 -0.1 +0.3 Sales ex-autos +0.7 -0.4 -0.7 Inventories…
By Patturaja Murugaboopathy and Gaurav Dogra (Reuters) – Emerging market equity funds are outpacing developed market rivals in attracting inflows for the first time in three years, underscoring a relatively more favourable growth outlook and expectations of faster rate cuts in many less developed markets. Refinitiv Lipper data shows money inflows into emerging market (EM)…
By Patrick Werr CAIRO (Reuters) – Egypt risks fuelling its record inflation and putting more pressure on the Egyptian pound if it does not slow an expansion of the money supply which bankers and analysts say has been used to plug widening budget deficits. Central bank figures show “M1” money supply, which includes domestic currency…
By Ana Mano SAO PAULO (Reuters) – A Brazilian labor union has accused JBS SA of submitting dozens of workers to “degrading conditions,” according to a class action suit filed against the world’s biggest meatpacker and its suppliers this week. The union filed the claim on behalf of at least 76 people, including members of…
TOKYO (Reuters) -Japan’s Mazda Motor needs to overhaul its strategy in China, the world’s biggest auto market, where it faces increasingly tough competition from domestic players, the automaker’s chief executive said on Friday. CEO Masahiro Moro said business conditions for Mazda in China, where it has a joint venture with Chongqing Changan Automobile and China…
By Marie Mannes STOCKHOLM (Reuters) -Swedish property group SBB on Friday ruled out state support as it sought to repair its battered finances, marred by a heavy loss and dwindling cash. The $13 billion group, which owns swathes of property across Sweden including hospitals and schools, racked up a pre-tax loss of 11.1 billion Swedish…
SHANGHAI (Reuters) – Several workers at Tesla’s Shanghai plant, its biggest manufacturing hub globally by output, said they had been awarded a large increase in their latest quarterly performance bonuses. The workers said they welcomed the award after the U.S. electric automaker had cut bonuses for many staff in the previous quarter. Discontent at the…
By Lewis Jackson SYDNEY (Reuters) -An Australian real estate investment trust (REIT) has limited how much investors can withdraw from one of its largest office funds citing challenging property conditions, in the latest sign of trouble for the embattled commercial property sector. Investors in the unlisted A$2.5 billion ($1.72 billion) Charter Hall Direct PFA Fund…
