By Supantha Mukherjee STOCKHOLM (Reuters) -Swedish telecom provider Ericsson said on Thursday it would likely be fined by U.S. regulators for its handling of a bribery investigation in Iraq and reported a slide in quarterly earnings due to its suspension of business in Russia. The company disclosed in February that an internal investigation had found…
By Mohi Narayan NEW DELHI -Oil prices slipped on Thursday amid thin trading volumes ahead of a public holiday, as traders weighed a larger-than-expected build in U.S. oil stocks against tightening global supply. Brent futures were down $1.14, or 1.1%, at $107.64 a barrel, while U.S. West Texas Intermediate futures were off $1.32, or 1.3%,…
TOKYO (Reuters) – Clothing brand Uniqlo’s Japanese owner said on Thursday first-half operating profit climbed 18%, even as COVID-19 lockdowns in China hampered sales in its biggest overseas market. Fast Retailing Co said operating profit was 189 billion yen ($1.51 billion) in the six months through February, against 168 billion yen a year earlier. The…
MILAN (Reuters) -The holding company of Italy’s Benetton family and U.S. investment fund Blackstone will spend up to 12.7 billion euros ($14 billion) to buy out other investors in Atlantia and take the airport and motorway operator private. In a statement, the two partners said they would offer 23 euros a share, which represents a…
STOCKHOLM (Reuters) – Sweden’s Ericsson, under fire over its handling of a bribery investigation in Iraq, on Thursday reported a fall in first-quarter core earnings, hurt by a delay in recording a large software contract and a provision related to suspension of business in Russia. The company’s quarterly adjusted operating earnings fell to 4.7 billion…
By Sinead Cruise and Carolina Mandl WASHINGTON/NEW YORK (Reuters) – Russian companies and global banks including BNY Mellon, Deutsche Bank, Citigroup and JPMorgan could profit if Moscow moves to de-list Russian companies’ depositary receipts from foreign exchanges, according to two people familiar with the matter. The potential windfall is due to the fees that bank…
By Cynthia Kim and Joori Roh SEOUL (Reuters) – South Korea’s central bank raised its benchmark rate to the highest since August 2019 on Thursday in a surprise move as it ramped up the fight against rampant inflation, which threatens its economic recovery. In its first ever rate review held without a governor, the bank’s…
(Reuters) – The Chinese Communist Party’s anti-corruption watchdog was among the agencies involved in a recent inquiry into links between billionaire Jack Ma’s Ant Group and state-owned Chinese companies, Bloomberg News reported on Wednesday. The Central Commission for Discipline Inspection (CCDI) was seeking to understand the influence of Ma’s fintech empire and the extent of…
By Stella Qiu and Alun John BEIJING (Reuters) – Asian shares tracked Wall Street higher on Thursday, while U.S. Treasury yields steadied and dollar retreated, as latest U.S. data raised hopes that inflation may be close to peaking, though several major central banks raised rates aggressively. Traders were waiting for a European Central Bank meeting…
By Wayne Cole SYDNEY (Reuters) -Australia’s unemployment rate held at a 13-year low in March as jobs growth slowed after months of strong gains, though record-high vacancies suggest it is only a matter of time before unemployment falls further. Figures from the Australian Bureau of Statistics on Thursday showed a jobless rate of 4.0%, when…
