TOKYO (Reuters) – Japan’s SoftBank Corp, the domestic telecoms arm of SoftBank Group, posted a 2.1% increase in first quarter operating profit on Friday. Operating profit was 246.3 billion yen ($1.73 billion) in the April to June period, marginally higher than the 241.2 billion yen in the same period a year earlier. SoftBank maintained its…
By Stephen Nellis (Reuters) – Apple on Thursday forecast that a sales slump would continue into the current quarter, sending shares down despite beating Wall Street sales and profit targets in the fiscal third quarter. Apple shares dropped about 2% after the company predicted what could be the fourth quarter in a row of declining…
By Yantoultra Ngui SINGAPORE (Reuters) -Singapore’s second-biggest lender Oversea-Chinese Banking Corp (OCBC) on Friday posted a 34% rise in second-quarter net profit, in line with estimates, while flagging it expected interest rates to trend lower from 2024. “We are assuming interest rates to start to fall next year but not substantially to pre-cycle,” OCBC Group…
(Reuters) – U.S.-based private equity fund Blackstone will submit a bid next week to acquire a 33.47% stake in Indian drugmaker Cipla, the Economic Times reported on Friday, citing people in the know. The stake sale will formally start the exit of the Hamied family who had founded Cipla in 1935, the report added. Cipla…
A look at the day ahead in European and global markets from Ankur Banerjee: Investors have kept their risk-off hat as the market looks to cap off a volatile week that followed the Bank of Japan’s policy tweak and ended with worries about where U.S. yields are headed. Futures indicate European stocks are set for…
(Reuters) -The U.S. health regulator rejected Mesoblast’s cell therapy for children under 12 years of age for treating a type of complication that occurs after a stem cell or bone marrow transplant, sending its Australia-listed shares crashing about 58% on Friday. The U.S. Food and Drug Administration (FDA) required more data to support marketing approval…
By Priyamvada C and Doyinsola Oladipo (Reuters) -Airbnb forecast third-quarter revenue above market estimates on Thursday, but industry fears of softening U.S. domestic demand sent the vacation rental firm’s shares down 1.2% in after-hours trading. The San Francisco-based company forecast quarterly revenue between $3.3 billion and $3.4 billion, ahead of analysts’ average estimate of $3.22…
BEIJING (Reuters) – China’s Zhengzhou city has launched measures to support its property market, including easing home resale restrictions, in what analysts said were the first such moves by a big city heeding signals from policymakers. The measures by the capital of China’s central Henan province included reductions on mortgage rates and down payment ratios,…
By Neil Jerome Morales and Enrico Dela Cruz MANILA (Reuters) -The Philippine central bank said it was ready to tighten monetary policy as necessary to keep a lid on price pressures, after data on Friday showed inflation remains above target. The consumer price index in July slowed to 4.7%, statistics agency data showed, the lowest…
By Akash Sriram (Reuters) – U.S. electric vehicle startups are expected to show the impact of Tesla’s price war when they report quarterly results over the next few days, with investors awaiting details on how the companies are managing cash amid a funding drought. Even market leader Tesla has warned of “turbulent times” and traditional…
