By Selena Li and Lawrence White HONG KONG/London (Reuters) -Standard Chartered PLC (StanChart) on Wednesday said first-quarter profit jumped 21%, beating expectations, as rising interest rates buoyed income from its cash management and retail banking businesses. Chief Executive Bill Winters said he now expects income for the emerging markets-focused lender to grow around 10% this…
COPENHAGEN (Reuters) – Sweden’s Assa Abloy, the world’s biggest lockmaker, on Wednesday reported a smaller drop than expected in first-quarter operating profit following a “very strong” start to the year. Operating profit fell to 3.96 billion crowns from a year-earlier 4.00 billion. Analysts polled by Refinitiv had on average expected a profit of 3.69 billion…
(Reuters) – Canadian miner Teck Resources Ltd, the target of an unsolicited takeover bid by Swiss commodities giant Glencore, narrowly missed estimates for first-quarter profit on Wednesday. Teck reported an adjusted profit of C$1.81 per share for the three months ended March 31, compared with the average analyst estimate of C$1.82, according to Refinitiv IBES…
TOKYO (Reuters) – Japan’s Honda Motor Co on Wednesday unveiled it struck a strategic collaboration agreement with Taiwan Semiconductor Manufacturing Co (TSMC) as part of steps the company was taking to secure a stable supply of semiconductors. Honda will build direct relationships with chip producers for the long-term stable supply of chips, chief executive Toshihiro…
By Aditya Soni and Nivedita Balu (Reuters) -Star host Tucker Carlson’s abrupt exit from Fox News is likely to hit short-term ratings but could nudge more mainstream advertisers to consider a network they have snubbed for being too partisan, investors and analysts said. News of his departure on Monday wiped nearly $1 billion from the…
By Rodrigo Campos NEW YORK (Reuters) -Argentina’s Economy Minister Sergio Massa pledged on Tuesday to unleash “all tools” to counter a slide in the peso currency that President Alberto Fernandez blamed on “Argentina’s right”, as the currency hit a fresh low in popular black markets. The peso hit 495 against the dollar in informal markets…
MEXICO CITY (Reuters) – The Bank of Mexico’s governing board may consider keeping its benchmark interest rate steady at its next monetary policy meeting, in what would be its first rate hold after 15 straight hikes, Central Bank Governor Victoria Rodriguez said on Tuesday. Banxico, as the Mexican central bank is known, hiked its key…
By Laura Sanicola (Reuters) – Oil prices rose in early Asian trade on Wednesday after a U.S. trade group reported a significant draw in crude oil stocks ahead of the government’s data release. Brent crude rose by 16 cents, or 0.2%, to $80.93 a barrel by 0006 GMT. U.S. West Texas Intermediate crude rose 25…
By Yuvraj Malik and Jane Lanhee Lee (Reuters) -Microsoft Corp beat Wall Street’s estimates for quarterly revenue and profit on Tuesday, driven by growth in its cloud computing and Office productivity software businesses, and the company said artificial intelligence products were stimulating sales. The company forecast revenue in its main segments for the current quarter…
By Ross Kerber (Reuters) -Top U.S. bank investors gave only slim support on Tuesday to shareholder resolutions calling for the lenders to wind down new fossil fuel financing, setbacks for climate activists who had hoped for new constraints on the oil and gas industries. The resolutions won only about 10% support of votes cast at…
