By Satoshi Sugiyama TOKYO (Reuters) – Toyota Motor Corp is expected to report a small quarterly profit increase on Tuesday, with soaring costs of parts and materials nearly offsetting the benefits from the plunging Japanese yen and a rebound in production. The world’s biggest automaker by sales said last week its global production rebounded by…
By Yimou Lee TAIPEI (Reuters) – Apple supplier Foxconn’s COVID-19 woes at its vast iPhone manufacturing facility in China’s Zhengzhou city could slash the site’s November iPhone shipments by up to 30%, a source with direct knowledge of the matter said. The source, who declined to be identified as the information was private, said Foxconn…
BEIJING (Reuters) -China’s factory activity unexpectedly fell in October, an official survey showed on Monday, weighed by softening global demand and strict COVID-19 restrictions, which hit production. The official manufacturing purchasing managers’ index (PMI) stood at 49.2 from a 50.1 reading in September, the National Bureau of Statistics (NBS) said. Economists in a Reuters poll…
SINGAPORE (Reuters) – Chicago wheat futures rose more than 5% on Monday as Russia’s withdrawal from a Black Sea export agreement raised concerns over global supplies. The most-active wheat contract on the Chicago Board of Trade (CBOT) jumped 5.8% to $8.77-1/2 a bushel as of 0019 GMT, after earlier hitting a high of $8.93 a…
(Reuters) – Twitter will revise its user verification process, Elon Musk said in a tweet on Sunday, just days after he took over one of the world’s most influential social media platforms. “Whole verification process is being revamped right now”, Musk said in his tweet without giving more details on what may change. Twitter is…
By Gus Trompiz PARIS (Reuters) -Wheat futures are expected to leap on Monday as Russia’s withdrawal from a Black Sea corridor agreement puts Ukrainian exports at risk, analysts said. Moscow suspended its participation in the Black Sea deal on Saturday, in response to what it called a major Ukrainian drone attack on its fleet in…
(Reuters) – Self-driving driving truck startup TuSimple Holdings Inc is being investigated by the FBI, U.S. Securities and Exchange Commission (SEC) and Committee on Foreign Investment about its relationship with China-backed Hydron Inc, the Wall Street Journal reported on Sunday. The officials are looking at whether TuSimple and its executives, specially Chief Executive Xiaodi Hou,…
BERLIN (Reuters) – Kidney dialysis provider Fresenius Medical Care (FMC) on Sunday revised down its forecast for 2022, expecting net income to decline this year, dragged down by rising labour costs and a slower than expected recovery in North America business. The company now expects net income to decline in the high-teens to mid-20s percentage…
(Reuters) – National Bank of Canada and Canadian Imperial Bank of Commerce (CIBC) have dropped out as bidders for HSBC Holdings PLC’s business in Canada, while Bank of Montreal is still pursuing the deal, according to a report in The Globe and Mail newspaper. HSBC disclosed on Oct. 4 that it was considering selling HSBC…
By Julie Gordon and Rod Nickel OTTAWA/WINNIPEG, Manitoba (Reuters) – At a warehouse on an industrial stretch in Ottawa, giant metal crates of donated groceries are piled high as volunteers sort canned goods, pasta and other foods to be distributed to pantries around the Canadian city. Demand has surged 33% at the Ottawa Food Bank…
