(Corrects to “Leong” from “Leng” in paragraph 3) (Reuters) -Singapore’s Temasek Holdings said on Wednesday President Tan Chong Lee will resign to take up the role as chief executive officer at its fund management firm 65 Equity Partners. In a slew of management changes announced by the investment giant, Leong Wai Leng will step down…
By Amruta Khandekar and Shreyashi Sanyal (Reuters) -Futures tied to the tech-heavy Nasdaq index fell nearly 2% on Wednesday as disappointing results and warnings from Microsoft and Alphabet sparked losses in megacap companies and raised fears of slowing economic growth. Microsoft Corp posted its lowest sales growth in five years and forecast second-quarter revenue below…
By Alexander Hübner and Joice Alves BERLIN/LONDON (Reuters) – Shares in Puma fell 1.75% on Wednesday after the company confirmed its full-year guidance but flagged uncertainty in the global market. The German sportswear maker reiterated its full-year operating result and sales outlook, after what it said was the best third quarter in its history. “We…
By Rachna Uppal, Maha El Dahan and Aziz El Yaakoubi RIYADH (Reuters) -Oil giant Saudi Aramco launched a $1.5 billion fund to support an inclusive global energy transition on Wednesday while Saudi officials said the switch from hydrocarbons could take decades, necessitating continued investment in conventional resources. Saudi Arabia, the world’s top oil exporter, and…
By Dhara Ranasinghe LONDON (Reuters) – World stocks scaled a five-week high on Wednesday, lifted by growing hopes that the pace of U.S. interest rate hikes could soon start to slow. Wall Street stocks futures fell, pointing to a weak open later on, after Google-owner Alphabet posted softer-than-expected ad sales after Tuesday’s close and Microsoft…
By Victoria Waldersee BERLIN (Reuters) -Mercedes-Benz raised its full-year profit forecast on Wednesday as strong demand for luxury cars and cost savings offset the supply chain bottlenecks that have hampered industry output this year. The German automaker said it now expected group earnings to rise at least 15% this year, compared with a previous forecast…
BERLIN (Reuters) -German sportswear maker Puma reiterated its full-year operating result and currency-adjusted sales outlook on Wednesday, despite uncertainty on the global market, after what it said was its best third quarter in the company’s history. The company said its earnings before interest and taxes (EBIT) rose by 12.6% on the year to 258 million…
By Praveen Menon and Byron Kaye SYDNEY (Reuters) – The cryptocurrency industry said on Wednesday it was disappointed with Australia’s decision to continue treating digital currencies as assets for tax purposes, and not as foreign currency. The government said in its budget announcement on Tuesday it would introduce legislation to enshrine the treatment of digital…
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -South Korea’s SK Hynix Inc warned on Wednesday of an “unprecedented deterioration” in memory chip demand, deepening fears of global recession, and said it would slash investment after quarterly profit tumbled 60%. The world’s second-largest memory chipmaker, whose clients include Apple Inc, said its investment in 2023…
(Reuters) – Australia’s corporate regulator said it had appealed the Federal Court’s decision to dismiss its petition against the Commonwealth Bank of Australia and its pension unit on allegations of improperly collecting commissions. Last month, the Australian Federal Court dismissed a petition by the Australian Securities and Investments Commission (ASIC) that accused the country’s top…
