VIENNA/MUNICH (Reuters) – Siemens is cooperating with authorities in Austria on an investigation into allegations of possible corruption related to hospital building contracts. Several people are being investigated for serious fraud, the prosecutor’s office in Feldkirch said on Tuesday, adding that the sums involved are believed to be less than 10 million euros ($10.99 million)….
By Li Gu and Summer Zhen SHANGHAI/HONG KONG (Reuters) – Investors betting on recovery in China’s battered property sector are favouring the stocks and bonds of state-backed firms that are more likely to benefit from government support, market participants said. The hugely leveraged sector has been gutted by three years of measures aimed at curbing…
By Yadarisa Shabong (Reuters) -Holiday Inn owner IHG expects room revenue growth to remain positive across its regions in the second half of 2023 “irrespective of any” macroeconomic pressures, with leisure travel showing no sign of cooling. IHG’s global revenue per available room, a key performance indicator for the hotel industry, rose 17% in the…
By Lewis Jackson and Praveen Menon SYDNEY (Reuters) – Australia’s third largest pension fund will stay active in Japanese markets in the coming months and is neutral about China despite growing investor aversion to the country’s markets, a senior executive said on Tuesday. The A$160 billion ($104 billion) Aware Super made “good money” recently due…
By Ludwig Burger FRANKFURT (Reuters) -Bayer said on Tuesday that last month’s cut to its full-year earnings target was mainly driven by a bleaker outlook at its Crop Science division and by expectations for flat pharmaceuticals sales. The German drugs and pesticides maker said in unscheduled statement last month that it was projecting 2023 group…
By Akshita Toshniwal (Reuters) – Global video-games market would return to growth in 2023 on the back of strong sales of consoles such as Sony’s Playstation 5, according to gaming market research firm Newzoo. Newzoo said it expects industry revenue to rise 2.6% to $187.7 billion in 2023, driven by a 7.4% rise in console…
By Lananh Nguyen and Juby Babu (Reuters) – Moody’s cut credit ratings of several small to mid-sized U.S. banks on Monday and said it may downgrade some of the nation’s biggest lenders, warning that the sector’s credit strength will likely be tested by funding risks and weaker profitability. Moody’s cut the ratings of 10 banks…
BERLIN (Reuters) – German inflation eased in July, the federal statistics office said on Tuesday, confirming preliminary data. German consumer prices, harmonised to compare with other European Union countries, increased by 6.5% on the year in July. This follows a 6.8% increase in June. (This story has been corrected to say inflation eased, not rose,…
By Nell Mackenzie LONDON (Reuters) – Bullish gasoline positions have hit their highest since the day Russia invaded Ukraine and will almost certainly rise further if record Atlantic Ocean heat draws a hurricane into the Gulf of Mexico and disrupts refineries, investors and analysts said. Many traders have been unnerved as crude markets were whipsawed…
By Aby Jose Koilparambil (Reuters) -Office rental firm IWG retained a “cautiously optimistic” outlook after posting a 48% surge in half-year profit on Tuesday, helped partly by high demand for its spaces and improved pricing. Office landlords are slowly recovering from pandemic lows as employers opt for permanent hybrid working models, where employees need to…
