(Reuters) – TotalEnergies will expand plans to buy back its own shares, the French energy group said on Thursday after first-quarter earnings rose sharply on soaring oil and gas prices. The oil and gas major, which is bolstering its renewables and electricity portfolios, is now planning $3 billion of share buybacks during the first half…
HONG KONG (Reuters) – UBS Group’s China country head David Chin has stepped down from the role but will remain the bank’s head of investment banking for Asia Pacific, according to a source with direct knowledge of the matter. The bank will appoint Eugene Qian, who heads UBS Securities, the Swiss bank’s majority owned mainland…
By Anshuman Daga and Lawrence White SINGAPORE (Reuters) – Standard Chartered posted a forecast-beating 6% rise in first-quarter profit, as the emerging-markets focused lender benefited from rising interest rates as central banks worldwide begin to grapple with inflation. The lender, which is focussed on Asia, Africa and the Middle East, now expects income growth this…
By Anshuman Daga and Lawrence White SINGAPORE (Reuters) – Standard Chartered’s first-quarter pre-tax profit rose 6%, beating market expectations, as the emerging markets-focused lender benefited from rising interest rates and flagged a robust outlook. Statutory pretax profit for StanChart, which earns most of its revenue in Asia, increased to $1.49 billion in January-March, from $1.4…
BEIJING/SHANGHAI (Reuters) -Baidu and Pony.Ai said on Thursday they had received permits to deploy robotaxis without humans in the driving seat on open Chinese roads for the first time, in another instance of Beijing city’s support for the autonomous-driving sector. The permits are the latest set of approvals the municipal government has handed out over…
By Leika Kihara TOKYO (Reuters) -The Bank of Japan on Thursday maintained its massive stimulus programme and a pledge to keep interest rates ultra-low, reinforcing its resolve to support a fragile economy even as sharp rises in raw material costs push up inflation. The central bank also said it will offer to buy unlimited amounts…
By Tom Westbrook SINGAPORE (Reuters) – Share markets steadied on Thursday, taking comfort in technology earnings, though an energy crisis in Europe and China’s lengthy lockdowns kept the mood cautious and have propelled the dollar close to 20-year highs as investors seek out safety and yield. Nasdaq 100 futures were up 1% in the Asia…
By Anshuman Daga SINGAPORE (Reuters) -Singapore’s Sembcorp Marine (Sembmarine) has agreed to a S$8.7 billion ($6.29 billion) merger with Keppel Corp’s larger offshore and marine unit, a year after the Temasek-backed firms began deal talks amid an industry downturn. The lossmaking oil rig builders have been whiplashed by years of oversupply, oil price volatility and…
HONG KONG/BEIJING (Reuters) -NetEase’s Cloud Music unit has sued Tencent Music Entertainment (TME), accusing it of unfair competition and plagiarising its app design, the company said on Wednesday. The move is the latest development in a long-running rivalry between the two Chinese tech giants who are vying to add users and sign popular musicians. Features…
SHENZHEN, China (Reuters) – Smartphone sales in China fell 14% year-on-year in the first quarter to 74.2 million units, with volumes falling to levels last seen during Q1 2020, Counterpoint Research said. Smartphone maker Vivo captured the biggest market share in the first quarter, with 19.7% of sales, followed by Oppo with 18%, and Apple…
