By Trixie Yap and Florence Tan SINGAPORE (Reuters) – Finnish refiner Neste expects renewable fuels from its new facilities in Singapore and the U.S. to drive its growth this year despite expectations of lower oil product margins in the second quarter, its chief executive said on Wednesday. “The macroeconomic situation is something that is affecting…
By John Revill (Reuters) -Siemens raised its full year sales and profit guidance on Wednesday after the German engineering and technology group beat sales forecasts during its second quarter. The maker of products ranging from trains and industrial software was in confident mood, boosted by its enormous order book which continued to expand, and a…
SHANGHAI/BEIJING (Reuters) – BYD Co Ltd may be China’s biggest electric vehicle maker by a country mile but it knows it lags rivals in autonomous driving, and has set up a new division and embarked on a huge hiring spree to rectify that shortcoming. Between 4,000 and 5,000 software engineers have been hired recently, BYD…
By Tom Westbrook SINGAPORE (Reuters) – The dollar held firm on Wednesday, as traders trimmed bets on imminent U.S. rate cuts following solid consumer spending data, while the greenback also benefitted from its status as a safe-haven so long as risk of a U.S. debt default remained. President Joe Biden and top congressional Republican Kevin…
A look at the day ahead in European and global markets from Ankur Banerjee Nervousness in the market over the looming U.S. debt ceiling deadline prevailed through the Asian hours and will remain the main focus for investors as Europe wakes up. While the talks between U.S. President Joe Biden and top congressional Republican Kevin…
By Ankur Banerjee SINGAPORE (Reuters) – Asian shares were subdued on Wednesday and the dollar hovered around a five-week peak as investors remained risk averse, with the U.S. debt ceiling talks and a mixed set of economic data weighing on sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.20% lower, while Australia’s S&P/ASX…
By Katya Golubkova and Sudarshan Varadhan TOKYO (Reuters) -Oil prices were little changed on Wednesday as traders remained cautious after a surprise rise in U.S. crude inventories stoked demand concerns on the heels of weaker-than-expected economic data from the United States and China. Brent crude futures slipped 3 cents to $74.88 a barrel. U.S. West…
SYDNEY (Reuters) – Australian wages increased at the fastest pace in a decade in the first quarter, although quarterly gains missed forecasts, in a result that offers some solace for policymakers who worry a damaging price-wage spiral would lead to more rate hikes. Figures from the Australian Bureau of Statistics out on Wednesday showed its…
(Reuters) -Credit Suisse Group AG faces certain restrictions in its ability to do business until its acquisition by rival UBS Group AG is completed, according to a regulatory filing on Tuesday. In certain cases, without prior UBS approval, Credit Suisse cannot grant a new credit facility or credit line in an amount exceeding 100 million…
By Nandita Bose and David Morgan WASHINGTON (Reuters) -Democratic President Joe Biden and top congressional Republican Kevin McCarthy edged closer to a deal to avoid a looming U.S. debt default Tuesday, as the threat of an economic nightmare prompted Biden to cut short an Asia trip this week. After an hour of talks, McCarthy, the…
