By Paul Sandle and John McCrank LONDON/NEW YORK (Reuters) -SoftBank’s decision to list British chip designer Arm is good news for New York, bad news for London and the best option left for the Japanese group after the collapse of its blockbuster sale to Nvidia. Arm, whose technology underpins the global smartphone industry, is most…
TOKYO (Reuters) – Honda Motor Co raised its full-year operating forecast on Wednesday, aided by cost cutting and a weak yen despite a persistent global chip shortage. It upgraded its latest forecast for an operating profit of 800 billion yen ($6.93 billion) for the year to March 31. Honda, like other automakers, has been forced…
By Tom Sims, Lawrence White and John O’Donnell FRANKFURT (Reuters) – Amid fears of a Russian invasion of Ukraine, Italy’s UniCredit has backed out of a potential acquisition in Russia and Austria’s Raiffeisen Bank International has set aside risk provisions for possible sanctions on Russia. What the region’s banks now fear most is that Russia…
BEIJING (Reuters) – Chinese Developer Yango Group Co Ltd has reached agreement with investors to delay a 40 million yuan ($6.29 million) onshore coupon payment by six months, a source with knowledge of the matter said on Wednesday. The agreement, first reported by online financial news service Cailianshe, came after bondholders last month rejected Yango’s…
By Takahiko Wada and Leika Kihara TOKYO (Reuters) – A surge in deposits caused by the government’s huge cash payouts is straining some Japanese lenders, complicating the central bank’s efforts to mitigate the side-effects of its negative interest rate policy. Industry leader MUFG Bank was charged negative rates last month on deposits parked with the…
By Byron Kaye and Nikhil Nainan (Reuters) -Commonwealth Bank of Australia posted a forecast-beating surge in first-half profit and said it would buy back $1.4 billion of stock as a home loan boom offset thinner margins. Its shares soared 6%. The country’s biggest lender outpaced rivals in attracting home buyers, benefiting from its sheer volume…
By Isla Binnie and David French (Reuters) – Can oil bankers learn renewable tricks? They may need to in this climate, judging by the experience of Douglas MacKenzie, a Citigroup banker who has spent decades advising global energy giants on fossil fuel deals since joining Goldman Sachs as an associate in 1985. “I cover Big…
By Sam Nussey TOKYO (Reuters) – Alibaba’s recent registration of additional American Depository Shares is not tied to any specific future transaction by SoftBank Group Corp, a spokesperson for the Japanese conglomerate said on Wednesday. “The registration of the ADR conversion facility (F6 filing, which was filed by Alibaba), including its size, is not tied…
By Kevin Buckland TOKYO (Reuters) – The dollar touched a one-month high versus the yen on Wednesday, boosted by a climb in Treasury yields to multi-year peaks overnight as traders wait on U.S. inflation data this week for clues on the pace of Federal Reserve policy tightening. The euro continued to retreat from near a…
By Elizabeth Culliford (Reuters) – Facebook parent Meta Platforms said on Tuesday it had filed a joint lawsuit with digital banking company Chime against two Nigeria-based individuals who engaged in phishing attacks to deceive people and gain access to their online financial accounts. The lawsuit, which is the first joint complaint between Meta and a…
