(Reuters) -Qualcomm Inc’s shares sank 7% on Thursday after the chip designer signalled it would take longer for its crucial smartphone market to rebound from a post-pandemic slump. The company, which supplies to top handset makers Apple Inc and Samsung Electronics, was set to lose about $10 billion in market valuation, if the losses hold….
By Alexander Marrow (Reuters) -The Russian rouble climbed sharply to a more-than-one-month high on Thursday, gaining for a fifth straight session, as oil prices steadied after a recent slide, somewhat countering the impact of reduced foreign currency supply. By 1326 GMT, the rouble had firmed 1.6% against the dollar to 77.94, its strongest mark since…
By Bernardo Caram and Nicolás Misculin BRASILIA/BUENOS AIRES (Reuters) – Argentina is seeking new easing of targets in its $44 billion deal with the International Monetary Fund and faster payouts, and is pushing to get key IMF members the United States and Brazil to support it, government officials said. The country is expected to return…
By Ron Bousso and Shadia Nasralla LONDON (Reuters) – Shell on Thursday posted first-quarter net profit of $9.65 billion as strong earnings from trading and higher liquefied natural gas (LNG) sales offset cooling energy prices, while extending its large share repurchase programme. The stronger-than-expected profits followed a string of forecast-beating results from rivals including BP…
WASHINGTON (Reuters) – The U.S. trade deficit narrowed sharply in March as exports increased, which could position trade to continue contributing to economic growth in the second quarter. The trade deficit contracted 9.1% to $64.2 billion, the Commerce Department said on Thursday. Data for February was revised to show the trade gap widening to $70.6…
WASHINGTON (Reuters) – U.S. worker productivity fell more than expected in the first quarter after growing in the second half of 2022, boosting labor costs, which could see the Federal Reserve keeping interest rates higher for a while. Nonfarm productivity, which measures hourly output per worker, dropped at a 2.7% annualized rate last quarter, the…
By Toby Sterling, Christoph Steitz and Markus Wacket AMSTERDAM/BERLIN (Reuters) – Talks on a planned sale of Dutch state-owned electricity grid operator TenneT’s German unit to Berlin have hit a hitch over price, the company’s outstanding bonds and offshore infrastructure, people familiar with the matter said. The sale would be one of Europe’s biggest deals…
LONDON (Reuters) – The European Central Bank eased the pace of its interest rate hikes on Thursday and kept its options open on future moves as it continues its fight sticky inflation. The 25-basis-point increase to the ECB’s three policy rates was the smallest since it started lifting them last summer and the central bank…
By Andrey Sychev (Reuters) -Adecco Group beat first-quarter sales expectations on Thursday as companies turned to temporary workers after laying off staff to cope with economic uncertainty. The group reported an 8% rise in quarterly sales to 5.89 billion euros ($6.53 billion), beating analysts’ consensus forecast of 5.83 billion euros. Sales in its biggest unit…
LONDON (Reuters) – Euro zone government bond yields fell along with the euro on Thursday after the European Central Bank raised interest rates by 25 basis points (bps), as expected. The two-year German yield, which is sensitive to interest rate expectations, was last down 10 bps to 2.58%, its lowest level in a month, compared…
