(Reuters) -Hong Kong’s Cathay Pacific Airways on Friday forecast its first half-year profit in three years, buoyed by a strong rebound in travel demand and one-off gain from a stake sale in Air China. The city’s flagship carrier had posted record losses for the last three years as it parked much of its fleet during…
TOKYO – Japan’s manufacturing activity fell back into contraction in June and service sector growth slowed for the first time in seven months, surveys showed on Friday, as business confidence and demand weakened. The au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) dropped to a seasonally adjusted 49.8 in June from a final…
By Rae Wee SINGAPORE (Reuters) – The dollar drew support from a bout of risk aversion on Friday as hawkish comments from global central banks, including the Federal Reserve, stoked fears that their aggressive monetary tightening could push economies into a deeper downturn. Sterling struggled to hold gains from a larger-than-expected 50-basis-point rate rise from…
(Reuters) -TikTok Chief Operating Officer V. Pappas is stepping down after five years with the short-video company owned by China’s ByteDance, according to an email seen by Reuters on Thursday. In an email to staff, Pappas said they would be taking on an advisory role for the company during the transition. “Given all the successes…
By Takahiko Wada and Leika Kihara TOKYO (Reuters) – Japan’s core consumer prices in May rose 3.2% from a year earlier, data showed on Friday, slowing from the previous month but staying above the central bank’s 2% target for the 14th straight month. The reading casts doubt on the Bank of Japan’s view that the…
(Reuters) -The number of victims of the MOVEit hack grew by several million on Thursday after the biggest U.S. pension fund, Calpers, and insurer Genworth Financial said personal information of their members and customers had been compromised. Both said a third-party vendor, PBI Research Services, was affected in a data theft hack, providing a path…
By Jarrett Renshaw (Reuters) -Indian Prime Minister Narendra Modi and U.S. President Joe Biden met in Washington on Thursday and several agreements were to be announced to strengthen economic and diplomatic ties between the two countries and highlight new private sector investments. The following is a roundup of the major announcements: VISAS The Biden administration…
(Reuters) – The states of California, Minnesota and Wisconsin on Thursday joined a Federal Trade Commission lawsuit to stop Amgen’s $27.8 billion deal to buy Horizon Therapeutics, according to a court filing. The FTC said last month it filing suit opposing the deal because it would give Amgen “monopoly positions” for medicines used to treat…
By Tom Polansek CHICAGO (Reuters) – More than 200 workers who clean meat plants have unionized after their employer paid U.S. fines for hiring children to do dangerous jobs sanitizing slaughterhouses, the United Food and Commercial Workers (UFCW) International Union said on Thursday. The union said it now represents Packer Sanitation Services Inc (PSSI) employees…
By Elvira Pollina and Giuseppe Fonte MILAN (Reuters) -Telecom Italia (TIM) has granted U.S. fund KKR a period of exclusive negotiations for the sale of its landline grid, the Italian phone group said on Thursday. TIM’s board unanimously mandated CEO Pietro Labriola to start talks with KKR aimed at obtaining a binding offer no later…
