By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics Co Ltd reported a likely 96% plunge in second-quarter operating profit on Friday, largely in line with forecasts, as an ongoing chip glut drives large losses in the tech giant’s key business despite a supply cut. The world’s largest memory chip and smartphone maker estimated…
(Reuters) – China said on July 3 it would restrict exports of two metals used in semiconductors and electric vehicles, escalating a technology war with the United States and potentially causing more disruption to global supply chains. Following are responses from some companies to the announcement of curbs from Aug. 1 on Chinese gallium and…
PARIS (Reuters) – Record demand from India sharply increased Airbus orders in June to leave the European planemaker with 1,044 net orders in the first half of the year, data showed on Friday. In a bulletin, Airbus officially booked orders for 500 jets from budget carrier IndiGo and 250 from Air India that were announced…
(Reuters) -Bottler Coca-Cola HBC AG raised its 2023 profit expectation on Friday, aided by robust sales and price increases in the first half of the year. The company said it now expects organic operating profit growth of 9%-12% for the year end to December, up from its previous forecast of the top end of a…
By Leika Kihara TOKYO (Reuters) – The Bank of Japan may revise up this year’s inflation forecast but will likely hold off on tweaking its yield curve control (YCC) policy in July to await more evidence that wages will keep rising, its former top economist Seisaku Kameda told Reuters. The BOJ will release new quarterly…
By Devayani Sathyan BENGALURU (Reuters) – New Zealand’s central bank will likely keep interest rates unchanged at 5.50% on Wednesday and for the rest of the year, marking an end to its 20-month long hiking cycle which has already pushed the economy into recession, a Reuters poll found. One of the first movers in the…
By Kantaro Komiya and Lucy Craymer TOKYO (Reuters) -Ukraine has submitted a formal request to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to New Zealand, Japanese and New Zealand authorities said on Friday. New Zealand, which performs the legal depositary functions for the partnership, had received a formal accession request from Ukraine…
NEW DELHI (Reuters) – The U.S. ambassador to New Delhi expressed sorrow over the ethnic violence in India’s northeastern state of Manipur on Thursday, and while noting it was an Indian matter he said Washington stood ready to assist if requested. Nearly 120 people have been killed in clashes between members of the Kuki tribes…
By Joe Cash BEIJING (Reuters) – U.S. Treasury Secretary Janet Yellen met with China’s central bank governor Yi Gang and former economy tsar Liu He for informal talks on the global, U.S., and Chinese economies on Friday, according to a U.S. Treasury official Yellen comes to Beijing seeking to ease tensions between the world’s two…
By Michael Martina and Simon Lewis WASHINGTON (Reuters) – The U.S. wants other countries to engage China on limiting the flow of synthetic drugs, the State Department’s top official on narcotics said on Thursday, as Washington complains of a lack of co-operation by Beijing in combating their illegal trade. On the eve of a U.S.-led…
