By Joyce Lee and Heekyong Yang SEOUL (Reuters) – South Korea’s LG Display Co Ltd on Wednesday reported a 30% drop in quarterly operating profit as a one-off cost related to profit-sharing plan and lower TV panel prices offset solid shipments of smaller screens for computers, laptops and smartphones. The Apple Inc supplier posted an…
By Foo Yun Chee (Reuters) – Intel on Wednesday won its appeal against a 1.06-billion-euro ($1.2 billion) EU antitrust fine handed down to the U.S. chipmaker twelve years ago for stifling a rival, in a major setback for EU antitrust regulators. The European Commission penalised Intel in 2009 for trying to block rival Advanced Micro…
By Susan Mathew (Reuters) – U.S. stock futures rose on Wednesday, with a surge in Microsoft lifting Nasdaq 100 futures, while investors keenly awaited the Federal Reserve’s monetary policy decision later in the day. The move comes after two days of wild swings, driven by uncertainty about the Fed’s next move and rising worries about…
By Anna Ringstrom STOCKHOLM (Reuters) -Hygiene products group Essity reported a bigger-than-expected drop in fourth-quarter profit on Wednesday and said it planned to further hike prices in the face of record high costs for raw material, energy and distribution. Operating profit at the world’s second-biggest maker of consumer tissue fell 34% from a year earlier…
HONG KONG (Reuters) -China Evergrande Group and its financial advisers will hold a call with investors at 9 pm (1300 GMT) on Wednesday, sources said, the first such call since it defaulted on some dollar bond payments last month. Evergrande, once China’s top selling real estate developer, has more than $300 billion in liabilities, including…
By Kevin Buckland TOKYO (Reuters) – The euro hovered near 1-month lows versus the dollar and yen on Wednesday, hurt by concerns about the potential for military conflict in Ukraine and ahead of the Federal Reserve wrapping a meeting that could herald accelerated monetary tightening. Bank of Canada is also set to announce policy later…
By Yuka Obayashi TOKYO (Reuters) -Brent crude edged up on Wednesday as geopolitical tensions in Europe and the Middle East raised supply concerns while investors locked in profits ahead of updates from the U.S. Federal Reserve and U.S. oil inventory data. Oil prices hit seven-year highs last week on worries that supplies could tighten due…
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -South Korea’s LG Display Co Ltd posted on Wednesday a 30% drop in quarterly operating profit on the year, hit by a steep decline in TV panel prices that offset solid shipments of smaller screens used for computers, laptops and smartphones. The Apple Inc supplier posted an…
By Davide Barbuscia NEW YORK (Reuters) – Laser-focused on how aggressive the Federal Reserve will be in tightening policy, some U.S. investors and strategists are starting to worry about what may seem a distant threat: a sharp economic slowdown or even the next recession. Investors have been unnerved in recent days about the potential for…
By Stella Qiu and Alun John BEIJING (Reuters) – Asian share markets steadied on Wednesday after three sessions of losses as investors awaited any hints about faster tightening of monetary policy from the U.S. Federal Reserve later in the day. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.1% on Wednesday, after sharp losses…
