By Stella Qiu SYDNEY (Reuters) -Australian business and consumer surveys showed on Tuesday that storm clouds were gathering for the economy, with a slowdown in business activity accelerating and spending confidence staying near recession levels, amid warnings of more rate hikes to come. A survey from National Australia Bank (NAB) that is closely watched by…
(Reuters) – Intel is in talks with SoftBank Group Corp’s Arm to be an anchor investor in the chip designer’s initial public offering (IPO), a source familiar with the matter told Reuters on Monday. Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8 billion and $10 billion, Reuters…
BERLIN (Reuters) – German demand for photovoltaic power systems is expected to grow at a double-digit rate this year with solar storage system installations by mid-year topping 2022’s total, the BSW solar power association said on Tuesday. Solar power systems are booming in Europe’s biggest economy as consumers seek alternatives to expensive fossil fuels following…
By Navya Mittal (Reuters) – Australia’s Domino’s Pizza Enterprises said on Tuesday it would shut 27 stores in Denmark, and its construction and supply arm in Australia, sending its shares as much as 11.9% lower in early trade to the bottom of the ASX 200 index. The Australian franchise said the streamlining of operations would…
By Krystal Hu SAN FRANCISCO (Reuters) – SoftBank Group Corp is planning a fresh round of layoffs at its Vision Fund investment arm, two people familiar with the matter said, the latest cost-cutting move at the Japanese conglomerate. The layoffs, which could be announced in the next two weeks, may impact up to 30% of…
By Trevor Hunnicutt WASHINGTON (Reuters) -The United States has made its concerns known to the Cuban government about Cuba hosting Chinese spy operations on its territory, White House spokesperson John Kirby said on Monday. Kirby said the bilateral relationship with China was tense at the moment, but President Joe Biden was committed to keeping the…
(Reuters) – Mining giant Rio Tinto said on Tuesday it will partner with Western Australia-based Gemco Rail to bring local iron ore rail car manufacturing and bearing maintenance to the Pilbara region. Rio intends to invest about A$150 million ($101.2 million) to acquire 100 domestically built ore rail cars over six years, it said. Adequate…
SYDNEY (Reuters) – Australia’s business conditions eased sharply in May, dented by slower gains in sales and employment, suggesting demand growth is moderating in the wake of the central bank’s most aggressive tightening campaign in its modern history. The survey from National Australia Bank Ltd (NAB) released on Tuesday showed its index of business conditions…
By Lucy Craymer WELLINGTON (Reuters) – The New Zealand central bank’s aggressive hiking of the cash rate likely pushed the country into a technical recession in the first quarter, a Reuters poll found, giving traction to the idea the cash rate may have peaked. Gross domestic product (GDP) is expected to be down 0.1% in…
BEIJING (Reuters) -China is willing to begin talks on a free trade agreement with Honduras “as soon as possible”, Chinese President Xi Jinping said on Monday, during the first visit by the Central American country’s president since forming diplomatic ties in March. Honduras’ President Xiomara Castro is on a six-day official visit to China. She…
