(Reuters) – Nvidia Corp’s market capitalisation jumped the most in May among the top 20 global companies by market value, adding $248 billion, with a majority of the gains coming in the last four sessions, according to Refinitiv data. The chipmaker briefly joined the $1 trillion valuation club, as investors bet on its potential to…
By Valerie Insinna CHARLESTON, South Carolina (Reuters) – Boeing Co CEO Dave Calhoun downplayed speculation that China’s maiden commercial flight of its domestically produced C919 narrowbody jet could foreshadow the end of the duopoly currently held by the U.S. planemaker and its European rival Airbus SE. On Sunday, China Eastern Airlines flew a C919 filled…
TOKYO (Reuters) – Japan’s Hitachi Astemo said on Thursday an auto industry veteran will take over as top executive from Brice Koch, who handled the automotive supplier’s response to misconduct over testing and other procedures for components going back as far as the 1980s. Hitachi Astemo, which makes a wide range of car, motorcycle and…
By Dominique Vidalon PARIS (Reuters) – French spirits group Remy Cointreau beat forecasts with record annual operating profits on Thursday, and reiterated its pledge to overcome a tough start to its new financial year, particularly in the United States. Chief Executive Eric Vallat told analysts he was confident about a second-half rebound as the company…
SHANGHAI (Reuters) -Tesla Inc Chief Executive Elon Musk departed Shanghai on Thursday, wrapping up a two-day trip to China in which he met senior Chinese government officials including the highest-ranking vice premier. Photos and a video of Musk’s visit late Wednesday to Tesla’s Shanghai factory – the automaker’s biggest production hub – showed him holding…
A look at the day ahead in U.S. and global markets from Mike Dolan If the Federal Reserve does skip raising interest rates this month it’s probably because it is as confused as everyone else about the health of the U.S. economy as June kicks off. Like a patient with a virus, incoming data appears…
(Corrects paragraph 7 to say Ma became chief investment officer of Sea Capital not Sea) By Kane Wu and Fanny Potkin HONG KONG/SINGAPORE (Reuters) -Southeast Asian e-commerce and gaming giant Sea Ltd is winding down its investment arm, two people with knowledge of the matter said, amid a cooling investment environment globally as macroeconomic and…
By Ira Dugal MUMBAI (Reuters) – A surge in investments that offset sluggish consumption to boost India’s growth in 2022-23 is expected to power the economy in the current financial year as the government pushes ahead with massive capital expenditure plans, economists said. This, in turn, could reflect across sectors like construction, which have a…
By Ben Blanchard TAIPEI (Reuters) – Nvidia Corp, a major supplier of chips and computing systems for artificial intelligence (AI), feels “perfectly safe” about relying so much on chip powerhouse Taiwan for manufacturing, its chief executive Jensen Huang said on Thursday. Some companies have expressed concerns about potential risks to business given heightened military threats…
By Jason Xue and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – Shares in some Chinese temple operators and lottery sellers surged for a second day on Thursday amid a weak post-COVID recovery, as despondent young people rush to pray or gamble amid greater economic uncertainty. Data showed Chinese temple visits more than quadrupled this year compared with…
