FRANKFURT (Reuters) -European Central Bank supervisors will zero in on bad loans this year after finding that some euro zone banks had set too little money aside for them or were slow in recognising the problem, the ECB said on Wednesday. Presenting its annual review of the sector, the ECB said euro zone banks generally…
JOHANNESBURG (Reuters) – Supermarket group Pick n Pay said on Wednesday its four-month sales grew by 6.4%, but its like-for-like sales growth in South Africa was softer, impacted by store revamps and unprecedented power cuts in the last quarter of 2022. At market open, shares of Pick n Pay, South Africa’s second biggest supermarket chain,…
(Reuters) – Turkey’s Borsa Istanbul issued a market-wide circuit breaker after the benchmark index dropped 5% within minutes of opening on Wednesday, continuing losses after a devastating earthquake in the south of the country on Monday. The benchmark BIST-100 index opened down 0.52% and slid rapidly to be 5% lower, issuing the market-wide circuit breaker…
By Nerijus Adomaitis OSLO (Reuters) -Equinor on Wednesday posted a record $74.9 billion adjusted operating profit for 2022, more than double its previous record thanks to soaring gas prices and with fourth-quarter results beating analysts’ expectations. The oil and gas producer’s adjusted earnings before tax and interest for October-December rose to $15.1 billion from $15…
By Mathieu Rosemain and Matthieu Protard PARIS (Reuters) -Societe Generale, France’s third biggest bank, posted a higher-than-expected profit in the fourth quarter, driven by a strong performance of its corporate and investment banking division as it set aside more money for failing loans. The reported group net income for the three months ending in December…
By Sonali Paul and Jeslyn Lerh SINGAPORE (Reuters) -Oil prices were little changed on Wednesday amid subdued movements in the dollar, and as investors waited for more inventory data for more clues on demand trends. Brent crude futures rose by one cent to $83.70 a barrel at 0405 GMT, after gaining 3.3% in the previous…
By Leika Kihara TOKYO (Reuters) – Japanese Prime Minister Fumio Kishida said on Wednesday the ability to closely coordinate with global central banks and “high-quality” communication skills are among qualifications for the next Bank of Japan (BOJ) governor. Speaking in parliament, Kishida said he was still in the process of selecting the successor to incumbent…
TOKYO (Reuters) -Shares of Japan’s Nintendo Co Ltd and SoftBank Group Corp and Sharp Corp fell steeply on Wednesday, after the companies jolted investors with disappointing results, emphasising the dim demand outlook for global tech firms. Shares of Nintendo dropped 6% after the maker of the Switch video game console reported lower sales and profit…
TOKYO (Reuters) – Shares of Japan’s Nintendo Co Ltd and SoftBank Group Corp fell sharply on Wednesday, a day after both unveiled earnings that fell short of expectations, as tech firms around the globe send a cautionary signal to investors. Shares of Nintendo were down 8.3% in early Tokyo trade, while SoftBank shares were down…
(Reuters) – Digital Currency Group (DCG) is selling shares in several of its cryptocurrency funds at a high discount, and has started offloading its holdings in investment vehicles run by subsidiary Grayscale, the Financial Times reported on Tuesday. Woes have piled up for SoftBank-backed DCG with its lending unit Genesis filing for bankruptcy protection, owing…
