PRAGUE (Reuters) – Czech carmaker Skoda Auto, part of the Volkswagen group, lifted operating profit by 60.8% year-on-year to 542 million euros ($598 million) in the first quarter, while revenue rose by a third to 6.8 billion euros, the company said on Monday. Global deliveries increased in the period by 12.6%, which Skoda had previously…
By Selena Li HONG KONG (Reuters) -HSBC has agreed to buy out its China fund management joint venture partner, two people familiar with the matter said, as the Asia-focused bank pushes ahead with expansion in the world’s second-largest economy. HSBC, which currently owns a 49% stake in HSBC Jintrust Fund Management, has signed an agreement…
By Yousef Saba DUBAI (Reuters) – Standard Chartered Chief Executive Bill Winters said on Monday he sees a big recession in the United States as unlikely, although a period of negative growth was possible. “I think it’s less the question of a massive decline in the U.S. – I think that’s very, very unlikely,” Winters…
By Roger Tung and Faith Hung TAIPEI (Reuters) – Taiwan’s exports exceeded analyst forecasts but still contracted for the eighth straight month in April, as demand for its tech products remained soft, especially from its biggest market China. Exports last month were down 13.3% by value from a year earlier at $35.96 billion, the Ministry…
By Natalie Grover LONDON (Reuters) – Diabetes drugs that also promote weight loss such as Novo Nordisk’s Ozempic, becoming a darling of celebrities and investors, are being studied to tackle some of the most difficult-to-treat brain disorders, including Alzheimer’s disease. Diabetes regimens, from Ozempic to old mainstays like insulin and metformin, appear to address several…
By Lucila Sigal BUENOS AIRES (Reuters) – Argentina, known better for its Malbec than its mining, has its sights set on becoming a top ten copper producer by 2030, with an investor friendly stance luring global players like Glencore and Lundin Mining to its mountainous north. The South American country has a pipeline of copper…
(Reuters) – A look at the day ahead in U.S. and global markets from Amanda Cooper. U.S. Treasury Secretary Janet Yellen didn’t pull any punches on Sunday when she said failure to resolve the impasse over the debt ceiling in time could trigger a “constitutional crisis”. And not just that. The last time there was…
By Birsen Altayli and Ezgi Erkoyun ISTANBUL (Reuters) – Turkish university student Yunus Efe has known only one leader of his country – Tayyip Erdogan. As he prepares to vote for the first time in elections this month, the 22-year-old says it is time for change. Efe is one of more than 6 million first-time…
BERLIN (Reuters) – Investor morale in the euro zone took a surprising dip in May, with stubborn inflation and energy concerns upending expectations of a spring recovery, a survey showed on Monday. Sentix’s index for the euro zone fell to -13.1 points for May from -8.7 in April. Analysts polled by Reuters had expected it…
By Giuseppe Fonte and Valentina Za ROME (Reuters) -Italy’s Treasury is open to reducing its 64% stake in Monte dei Paschi di Siena (MPS) through one or more share sales on the market, three people briefed on the matter told Reuters. Such an option, however, would only be considered if financially advantageous and as long…
