STOCKHOLM (Reuters) -Sweden-based Volvo Car AB said on Friday its sales increased by 2% year-on-year in January to 48,520 cars, but tumbled in China due to public holidays. Volvo Cars, which is majority-owned by China’s Geely Holding, said the increase at group level was led by markets such as Britain, Italy and Belgium while in…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Billionaire investor Ryan Cohen is building a large stake in Nordstrom Inc and plans to push the upscale retailer to shake up its board as its performance has lagged behind rivals, people familiar with the matter said on Thursday. Cohen, who built his fortune by co-founding online pet…
By Chavi Mehta and Jane Lanhee Lee BANGALORE/OAKLAND Calif (Reuters) – Qualcomm Inc forecast second-quarter revenue and profit below Wall Street estimates on Thursday as the chipmaker grapples with the combined toll of weak demand for smartphones and a supply glut, a situation that is expected to persist into the first-half of this year. The…
SEOUL (Reuters) – South Korea’s finance minister said on Friday the country’s exports and investment would be weak at least through the first half of the year and that the government would provide maximum support to ease the situation. “The government will provide maximum support to boost exports and investment by companies so that the…
By Unknown f70e0fa1-f662-4c5f-a841-bbe5694475cb and Nivedita Balu (Reuters) -Alphabet Inc on Thursday fell short of Wall Street expectations for fourth-quarter profit and revenue and Chief Executive Sundar Pichai said Google’s digital ad clients pulled back spending more in the period than in the preceding quarter. Shares of Alphabet were down nearly 5% in after-hours trading, after…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. The Fed, ECB, and BoE have spoken, and the market’s message is: We hear you, but we don’t believe you. All three raised interest rates as expected this week, said they will act again at upcoming meetings, and…
(Reuters) -Adani Group Chairman Gautam Adani is in talks with lenders to prepay and release pledged shares as he seeks to restore confidence in the financial health of his conglomerate, Bloomberg News reported on Thursday. The move would see lenders release some of the stock in Adani Group companies that was pledged as collateral, Bloomberg…
By Lewis Krauskopf, Shreyashi Sanyal and Johann M Cherian (Reuters) – The Nasdaq and S&P 500 jumped and touched roughly five-month highs on Thursday as a more dovish-than-expected message from Federal Reserve Chair Jerome Powell boosted equities and Meta Platforms shares soared on rigorous cost controls. The Dow slipped, weighed down by declines in some…
By Naomi Rovnick and Dhara Ranasinghe LONDON (Reuters) – Central bank policy announcements, once viewed as the rule book for how markets should move, are not resonating with traders any more. Take Wednesday’s Federal Reserve rate move. The central bank lifted its main funds rate by 25 bps to its highest since 2007 as it…
By Aftab Ahmed, Chris Thomas and Aditya Kalra NEW DELHI/MUMBAI (Reuters) -Adani’s market losses swelled above $100 billion on Thursday, sparking worries about a potential systemic impact a day after the Indian group’s flagship firm abandoned its $2.5 billion stock offering. The shock withdrawal of Adani Enterprises’ share sale marks a dramatic setback for founder…
