By Cynthia Kim SEOUL (Reuters) – A missed bond payment by the developer of a South Korean theme park has rattled the country’s money markets and raised worries about the prospect of a credit crunch similar to the kind that threw China’s property market and economy into crisis. South Korea’s central bank and financial regulators…
(Reuters) – French drugmaker Sanofi on Friday projected faster earnings growth this year on strong demand for its bestselling drug Dupixent and for its flu vaccines. In a statement, Sanofi said it now expects 2022 adjusted earnings per share to grow by about 16%, not taking into account an expected positive currency impact of between…
PARIS (Reuters) -Europe’s Airbus raised its 2022 free cashflow forecast on the back of a strong dollar and reaffirmed delivery and production targets while delaying the projected introduction of its newest jet, the A321XLR, by a few months. Third-quarter revenues were also partially boosted by the U.S. currency while adjusted operating earnings rose 26% to…
By Leika Kihara TOKYO (Reuters) – The Bank of Japan kept ultra-low interest rates on Friday and maintained its dovish guidance, cementing its status as an outlier among global central banks tightening monetary policy, as recession fears dampen prospects for a solid recovery. In fresh quarterly projections, the BOJ revised up its core consumer inflation…
By Daina Beth Solomon PIEDRAS NEGRAS, Mexico (Reuters) – Until last year, Julieta Monica Morales was another factory worker making T-shirts in central Mexico, fuming over poor pay and a broken union system she thought served companies more than workers. Now, she is at the head of her own fledgling union and taking on the…
By Leika Kihara TOKYO (Reuters) – The International Monetary Fund cut Asia’s economic forecasts on Friday as global monetary tightening, rising inflation blamed on the war in Ukraine, and China’s sharp slowdown dampened the region’s recovery prospects. While inflation in Asia remains subdued compared with other regions, most central banks must continue raising interest rates…
(Reuters) -Australia’s Qantas Airways Ltd on Friday “expressed disappointment” at the country’s competition regulator delaying its decision on the carrier’s $394 million buy of Alliance Aviation Services. The Australian Competition & Consumer Commission (ACCC) has delayed the provisional date to announce its final verdict on the deal three times so far, with the decision now…
MEXICO CITY (Reuters) – Auto manufacturing companies Volkswagen and Continental both pledged major investments in Mexico on Thursday totaling nearly $1 billion, one of the biggest sums for the sector to be announced in a single day during the current government. Volkswagen said it will invest $763.5 million between 2022 and 2025 at its complex…
By Deena Beasley (Reuters) – Gilead Sciences Inc on Thursday posted a higher-than-expected third-quarter profit on the back of strong demand for its HIV and cancer drugs, which helped offset lower sales of its COVID-19 antiviral drug and acquisition expenses. The U.S. biotech company also increased its forecast for full-year revenue and earnings, sending its…
By Dawn Chmielewski and Nivedita Balu (Reuters) – Apple Inc on Thursday reported revenue and profit that topped Wall Street targets, one of the few bright spots in a tech sector battered by spending cutbacks due to inflation. The forecast for the holiday quarter was more grim. While not providing specific numbers, Apple said revenue…
