SYDNEY (Reuters) – Australia’s central bank on Tuesday raised its main cash rate by a surprisingly large 25 basis points to 0.35%, its first hike in more than a decade, and flagged further tightening to come as it runs down the curtain on pandemic stimulus. Wrapping up its May policy meeting, the Reserve Bank of…
HONG KONG (Reuters) – Alibaba shares fell as much as 9% on Tuesday after a state media report that Chinese authorities had taken action against an individual surnamed Ma, but recouped losses after those reports were revised to make clear it was not the company’s founder. State broadcaster CCTV first reported that authorities in the…
By Sonali Paul MELBOURNE (Reuters) – Oil prices rose on Tuesday, extending gains from the previous session, as the European Union firmed up plans to tighten sanctions on Russia this week, with Germany saying it was prepared to back an immediate embargo on Russian oil. Brent crude futures rose 25 cents, or 0.2%, or $107.83…
By Anshuman Daga SINGAPORE (Reuters) -Shares in HSBC Holdings rose in Hong Kong trade on Tuesday after its largest shareholder, Chinese insurance giant Ping An, called for a break-up of the London-headquartered bank. Sources familiar with the situation said on Friday Ping An had urged HSBC to look at options including spinning off the Asian…
By Jihoon Lee and Choonsik Yoo SEOUL (Reuters) -South Korea’s consumer inflation quickened far more than forecast and hit a more than 13-year high in April, boosting expectations in the bond market for more central bank interest rate rises this year. The Statistics Korea data showed the consumer price index (CPI) rose 4.8% in April…
(Reuters) -Logitech International reported a 20% drop in sales for its fourth quarter on Tuesday, as the computer mice, webcam and keyboard maker lapped high comparables from a year earlier. Sales fell to $1.23 billion for the three months to the end of March from $1.54 billion a year earlier, when sales were massively boosted…
(Reuters) – Logitech International reported a 20% drop in sales for its fourth quarter on Tuesday, as the computer mice, webcam and keyboard maker lapped high comparables from a year earlier. Sales fell to $1.23 billion for the three months to the end of March from $1.54 billion a year earlier, when sales were massively…
By Sinead Cruise LONDON (Reuters) -The sudden fall in European shares driven by a brief crash in Nordic markets was caused by a single sell order trade by Citigroup Inc, people familiar with the matter told Reuters, and confirmed by Citi. The flash-crash, which caused European shares to suddenly fall on a day of holiday-thinned…
(Reuters) – Australia’s Woolworths Group said on Tuesday its domestic supermarkets and discount department stores were experiencing strong trading momentum in the current quarter, but flagged stocking issues due to supply chain disruptions. The company posted a near 10% jump in its third-quarter sales at A$15.12 billion ($10.66 billion) on a continuing operations basis, as…
By Tina Bellon (Reuters) -Electric carmaker Rivian Automotive Inc will receive $1.5 billion in state and local incentives and tax credits for the electric vehicle assembly plant it plans to build in Georgia, the state and company said on Monday. The $5 billion plant is expected to employ some 7,500 workers once up and running….
