By Philip Blenkinsop BRUSSELS (Reuters) -Heineken maintained its forecast for 2023 profit growth with the risk of slower economic expansion in the Asia-Pacific region offset by greater resilience among beer drinkers in Europe. The world’s second-largest brewer expects its operating profit this year to increase by a mid- to high- single-digit percentage. “We see signals…
By Laila Kearney and Muyu Xu (Reuters) -Oil dropped on Wednesday as the market weighed potential interest rate hikes from the U.S. Federal Reserve that could slow growth and dampen oil consumption, offsetting falling U.S. inventories and strong Chinese economic data. Brent crude futures shed 35 cents, or 0.4%, to $84.42 a barrel as at…
By Kevin Yao BEIJING (Reuters) – China’s central bank has plenty of reasons to loosen policy as deflationary pressures in the economy deepen, but record credit growth is likely to limit the extent of any monetary support it’s able to provide. While the recovery from last year’s pandemic slump in the world’s second-largest economy gathered…
By Aditi Shah and Aditya Kalra NEW DELHI (Reuters) – Indian ride-hailing startup BluSmart is seeking to challenge Uber and Ola for market share in the country with bets on an all-electric taxi fleet and an aggressive bid to lure disgruntled passengers and drivers from the incumbents. A clean energy push by Prime Minister Narendra…
By Tom Westbrook SINGAPORE (Reuters) – Stocks eased on Wednesday, while the dollar was under a little pressure, as traders shifted focus from U.S. banking stress to expectations for an imminent peak in the Federal Reserve’s interest rate cycle. MSCI’s index of Asia shares outside Japan dropped 0.5% to retreat further from Monday’s two-month high,…
By M. Sriram MUMBAI (Reuters) – A funding squeeze at Indian startups that has already led to layoffs and delayed stock listings is set to worsen as investors reckon with stretched valuations and faltering consumption growth, likely laying the ground for industry consolidation. Startups in India raised just $2 billion in the first quarter of…
By Helen Coster and Jack Queen WILMINGTON, Delaware (Reuters) -Fox Corp and Fox News on Tuesday settled a defamation lawsuit by Dominion Voting Systems for $787.5 million, averting a trial putting one of the world’s top media companies in the crosshairs over its coverage of false vote-rigging claims in the 2020 U.S. election. The settlement,…
(Reuters) -Western Alliance Bancorp on Tuesday posted stronger-than-expected earnings and said its deposits had stabilized after the March banking crisis, news that boosted its shares and other U.S. regional banks in after-hours trading. The lender said total deposits fell 11.3% to $47.6 billion in the first quarter from the previous three months, but deposits steadied late…
By Svea Herbst-Bayliss (Reuters) – Staple Street Capital Group LLC, the small buyout firm that owns Dominion Voting Systems, has scored a $787.5 million windfall after Fox Corp settled a defamation lawsuit brought by the voting machine operator. The New York-based private equity firm stands to earn a return that dwarfs the $38.3 million it…
(Reuters) – WeWork Inc said on Tuesday that it had received a non-compliance notice from the New York Stock Exchange, as its stock traded below $1 over a 30 day period. The notice will not result in immediate de-listing and the company will have six months to regain compliance, the flexible workspace provider said. Debt-laden…
