By David Shepardson WASHINGTON (Reuters) – The U.S. Postal Service (USPS) said on Monday it expected to receive next-generation delivery vehicles in June 2024, nine months behind a prior schedule. In March 2022, the USPS placed an initial $2.98 billion order for 50,000 next-generation delivery vehicles from Oshkosh Corp and previously said it expected to…
(Reuters) – Logitech International posted a 22% drop in fourth-quarter sales on Tuesday, as growing worries of an economic downturn continue to hinder the computer peripherals maker from maintaining the growth experienced during the pandemic. The Swiss company said its sales for the three months to March-end fell to $960 million, compared with $1.23 billion…
By Leika Kihara and Jihoon Lee INCHEON, South Korea (Reuters) – Japan and South Korea held their first bilateral finance leaders’ meeting in seven years on Tuesday, a sign relations between the two are thawing amid shared challenges from geopolitical tensions and slowing economic growth. “Japan and South Korea are important neighbours that must cooperate…
By Laura Sanicola (Reuters) – Oil prices fell in thin early Asian trade on Tuesday as the market digests weak economic data from China and expectations of another U.S. interest rate hike. Brent crude fell by 2 cents to $79.29 a barrel by 0021 GMT, while U.S. West Texas Intermediate (WTI) crude fell 2 cents…
By Yantoultra Ngui SINGAPORE (Reuters) -Singapore’s biggest bank DBS Group reported record first-quarter profit on Tuesday, rising a stronger-than-expected 43% from a year earlier on a higher net interest margin, sustained business momentum and resilient asset quality. Southeast Asia’s largest lender by assets however said its net interest margin likely peaked in the first quarter…
SINGAPORE (Reuters) -Singapore’s biggest bank, DBS Group, reported a 43% jump in quarterly profit on Tuesday to a record high, citing higher net interest margin, sustained business momentum and resilient asset quality. DBS, which is also Southeast Asia’s largest lender by assets, said January-March net profit rose to S$2.57 billion ($1.92 billion) from S$1.8 billion…
(Reuters) -BlackBerry will conduct a review of strategic alternatives, which includes the possible separation of one or more of its businesses, the Canadian technology company said on Monday. The company’s US-listed shares rose near 11% in trading after the bell. BlackBerry, which was founded in 1984 and built pagers, said it has not set a…
(Reuters) – The U.S. federal government is ticking closer to its “x-date,” when it will no longer be able to pay its bills and risk a default that would shake the world economy. Republicans in the House of Representatives have passed legislation that would pair a $1.5 trillion increase in the debt ceiling with $4.8…
By David Lawder WASHINGTON (Reuters) – The U.S. Treasury Department said on Monday that authorities took “decisive actions” in response to the failures of First Republic Bank, Silicon Valley Bank and Signature Bank to strengthen public confidence in the banking system and would continue to do so. In a statement to the Treasury Borrowing Advisory…
By Dawn Chmielewski (Reuters) -A district board appointed by Florida Governor Ron DeSantis to oversee development in and around Walt Disney Co’s Florida theme parks on Monday said it would file a countersuit against Disney in state court, according to prepared remarks seen by Reuters. The decision, which escalates tensions between Disney and the state…
