ZURICH (Reuters) -Holcim raised its full-year sales outlook on Friday after the world’s biggest cement maker beat analyst forecasts for sales and profit during the first quarter. The Swiss company said it now expects sales growth of 8% on a like-for-like basis, which cuts out the impact of acquisitions and divestments and currency swings, and…
STOCKHOLM (Reuters) -Swedish truck maker AB Volvo reported first-quarter core earnings well above market expectations on Friday as it juggled strong market demand with a strained supply chain that put a cap on its ability to grow order books. The rival of Germany’s Daimler Truck and Traton also said it expected supplies of components to…
By Sonali Paul and Isabel Kua (Reuters) -Oil prices extended losses on Friday, heading for a 4% weekly drop and burdened by the prospect of rate hikes, weaker global growth and COVID-19 lockdowns in China hurting demand, even as the European Union weighed a ban on Russian oil. Brent crude futures were down $1.17, or…
By Daniel Leussink TOKYO (Reuters) – The Bank of Japan (BOJ) should revise its yield curve control (YCC) policy or scrap it if the benchmark Japanese government bond (JGB) yield keeps rising to the upper limit of the central bank’s range, one third of economists surveyed by Reuters said. The BOJ in recent weeks has…
By Arsh Tushar Mogre and Devayani Sathyan BENGALURU (Reuters) – South Korea’s economic growth likely slowed significantly in the first quarter as restrictions imposed to prevent the spread of COVID-19 slammed the brakes on consumer spending, a Reuters poll found. Asia’s fourth-largest economy is expected to have expanded by a seasonally adjusted 0.6% in the…
(Reuters) -An Australian court fined Trivago, a unit of U.S.-based online travel firm Expedia Group, A$44.7 million ($32.91 million) for misleading consumers over hotel room rates, in what would be one of the country’s largest payouts for breaching consumer law. The Federal Court issued https://www.accc.gov.au/media-release/trivago-to-pay-447-million-in-penalties-for-misleading-consumers-over-hotel-room-rates the fine on Friday after finding Trivago, a hotel booking…
By Sonali Paul (Reuters) – Oil prices fell on Friday, heading for a drop of nearly 4% for the week, burdened by the prospect of rate hikes, weaker global growth and COVID-19 lockdowns in China hurting demand, even as the European Union weighed a ban on Russian oil. Brent crude futures slid 81 cents, or…
TOKYO (Reuters) – Shares of Toshiba Corp jumped more than 3% on Friday, after the Japanese conglomerate said it would solicit deal offers, including on a potential buyout, bolstering hopes of a lucrative exit for its hedge fund investors. The Japanese conglomerate, which has been locked in a long-battle with some of its major shareholders…
By Makiko Yamazaki and Yuki Nitta TOKYO (Reuters) – When Japan’s biggest banks helped finance a $34 billion deal last year for medical supply maker Medline, one of the largest leveraged buyouts since the financial crisis, the famously cautious lenders signalled their ambitions in riskier, and more lucrative, low-grade U.S. debt. Mitsubishi UFJ Financial Group…
(Reuters) -Warner Bros Discovery announced on Thursday it would shut down its CNN+ streaming news service less than a month after its highly touted launch. The service, which sought to capitalize on the popularity of streaming video and the growth of digital news subscriptions, will cease operations on April 30. The executive who helped design…
