By Rocky Swift TOKYO (Reuters) – The Japanese operator of apparel retailer Uniqlo is expected by analysts to post a 25% jump in profit to a third-quarter record on Thursday, when the focus will be on whether its sales recovery in China is on track. Fast Retailing’s operating profit in the three months through May…
By Manoj Kumar and Jatindra Dash and Sumit Khanna BHUBANESWAR, India (Reuters) – The world’s major accounting firms are stepping up investments in new Indian facilities away from bigger cities as global demand for cheaper back office operations grows and smaller towns move up the economic value chain. For decades, large multinational corporations have rushed…
By Renju Jose SYDNEY (Reuters) – Australia Treasurer Jim Chalmers said on Wednesday the cabinet would meet soon to decide the next governor of the country’s central bank, after local media reported that a government decision could be reached as early as this week. Markets are still in the dark whether Chalmers will extend Reserve…
By Leika Kihara TOKYO (Reuters) – Japan’s wholesale inflation slowed for a sixth straight month in June due to sliding fuel and commodity prices, data showed on Wednesday, a sign the cost-push pressure that drove up consumer prices is steadily easing. The data underscores the central bank’s view that consumer inflation will slow in coming…
By Nupur Anand (Reuters) – JPMorgan Chase plans to lay off 63 employees in Jersey City, New Jersey, according to a Worker Adjustment and Retraining Notification (WARN) issued on Tuesday. The job cuts will take place in September, according to the notice. The total workforce of JPMorgan, the largest U.S. lender, stood at 296,877 at…
By Jeffrey Dastin AUSTIN (Reuters) – A key way that Amazon’s cloud division aims to set itself apart from rivals perceived to have a leg up on artificial intelligence is by competing on price, an executive said on Tuesday. The AI models behind a viral chatbot like ChatGPT require immense computing power to train and…
(Reuters) – Money market funds are set for a reprieve on “swing pricing” when Wall Street’s top regulator votes on Wednesday to help control systemic risk in the money market and large liquidity fund sectors, Bloomberg News reported on Tuesday. Swing pricing involves adjusting a fund’s value in line with trading activity so that redeeming…
By David Shepardson WASHINGTON (Reuters) – United Airlines Chief Executive Scott Kirby met on Tuesday with the acting head of the Federal Aviation Administration (FAA), officials told Reuters, after he blasted its air traffic control performance last month. Kirby in a June 26 in a memo to employees expressed frustration “the FAA frankly failed us…
MEXICO CITY (Reuters) -Mexican telecommunications giant America Movil on Tuesday said its net profit surged 89.1% in the second quarter on the back of foreign exchange gains. The company, controlled by the family of Mexican tycoon Carlos Slim, posted a net profit of 25.87 billion pesos ($1.5 billion), beating the Refinitiv estimate of 22.61 billion…
By Stephen Nellis SAN FRANCISCO (Reuters) – International Business Machines (IBM) is considering the use of artificial intelligence chips that it designed in-house to lower the costs of operating a cloud computing service it made widely available this week, an executive said Tuesday. In an interview with Reuters at a semiconductor conference in San Francisco,…
