By Sam Nussey TOKYO (Reuters) -SoftBank Group Corp reported on Tuesday a 97% tumble in quarterly profit and the collapse of a deal to sell chip designer Arm worth over $60 billion, mounting pressure on the Japanese conglomerate to support its sagging shares. SoftBank reported that it had squeezed out a net profit of 29…
By Nick Carey LONDON (Reuters) – Governments and utilities need ambitious plans to cut red tape to install vehicle chargers if Europe is to be ready for 130 million electric vehicles (EVs) by 2035, a new report from EY and Eurelectric said on Tuesday. According to “Power sector accelerating e-mobility,” by the professional services group…
KUALA LUMPUR (Reuters) – Malaysian glove maker Supermax Corp Bhd has rolled out a new foreign worker management policy that expands its recruitment fee remediation scope to include former workers directly hired and contracted, it said on Tuesday. The policy will cover workers who left the company before October 2019, Supermax said in a statement…
(Reuters) – Singer-songwriter Neil Young has asked employees of Spotify Technology SA to quit their jobs while urging people to withdraw their money from big American banks, in protests over coronavirus misinformation and climate change. Young, in a statement on his website, criticized the music streaming platform’s chief executive officer, Daniel Ek, saying he was…
By David Lawder (Reuters) – The United States and Japan on Monday announced a deal to remove Trump-era tariffs from about 1.25 million metric tons of Japanese steel imports annually after Washington granted similar access for European Union steelmakers last year. The new deal, which excludes aluminum, will take effect on April 1 and requires…
By Anshuman Daga SINGAPORE (Reuters) – Asian equities consolidated recent gains as investors’ sentiment improved amid strong results by U.S. companies, helping stocks recover from the worst start to the year since 2016, while a resurgent euro paused ahead of U.S inflation data. Markets are still alert for rate increases in both the euro zone…
By Emily Chow BEIJING (Reuters) – Oil prices eased on Tuesday morning ahead of the resumption of indirect talks between the United States and Iran which may revive a nuclear deal that could lead to the removal of sanctions on Iranian oil sales, increasing global supplies. Brent crude was last down 36 cents, or 0.4%,…
By Harish Sridharan and Byron Kaye (Reuters) -Australia’s Macquarie Group Ltd said it booked record quarterly net profit thanks to strong commodity markets and “exceptional” asset sales in infrastructure and other sectors, adding it should continue to benefit as interest rates rise. Profit contribution from commodities trading and investment banking rose “substantially” in the third…
By Jane Lanhee Lee (Reuters) – SoftBank Group Corp’s sale of Arm Ltd to U.S. chipmaker Nvidia Corp has collapsed, a source familiar with the matter told Reuters on Monday, adding that Arm will plan for an IPO. The deal has faced several regulatory hurdles, with the U.S. Federal Trade Commission suing to block it…
(Reuters) – SoftBank Group Corp’s $66 bln sale of Arm Ltd to U.S. chipmaker Nvidia Corp has collapsed on Monday, the Financial Times reported, citing three people with direct knowledge of the transaction. The Japanese investment giant would receive a break-up fee of up to $1.25 billion, the newspaper quoted one of the people as…
