By Bart H. Meijer AMSTERDAM (Reuters) -ABN Amro shares fell 4% on Wednesday morning, even though the Dutch bank reported higher-than-expected net profit for the fourth quarter and announced a 500 million euro ($570 million) share buyback. Net profit jumped to 552 million euros in the final three months of 2021 from 54 million euros…
STOCKHOLM (AP) — Sweden has halted wide-scale testing for COVID-19 even among people showing symptoms of an infection, putting an end to the mobile city-square tent sites, drive-in swab centers and home-delivered tests that became ubiquitous during the pandemic and provided essential data for tracking its spread. The move puts the Scandinavian nation at odds…
By Florence Tan SINGAPORE (Reuters) – Oil prices slipped for a third session on Wednesday on profit taking due to concerns of a possible rise in supplies from Iran despite industry data showing a surprised drop in U.S. oil inventories. Brent crude futures edged down 8 cents, or 0.1%, to $90.70 a barrel by 0825…
DUBLIN (Reuters) – Smurfit Kappa expects to increase prices further this year to recover high costs after a mix of price hikes and bumper demand delivered record earnings amid “significant and unprecedented cost inflation” in 2021. Europe’s largest paper packaging producer predicted last July that inflation was here to stay and said on Wednesday that…
ADIIVKA, Ukraine (AP) — In the trenches of eastern Ukraine, across the lines from some of the 100,000 Russian troops amassed north and east of the country, Ivan Skuratovskyi’s calm verges on numbness — even after a sniper’s bullet recently killed one of the 50 or so men under his command. It is the sort…
TOKYO (AP) — Honda’s profit dropped 32% in the last quarter as rising material costs and a shortage of computer chips hurt the Japanese automaker. Honda Motor Co.’s profit for the three months through December totaled 192.9 billion yen ($1.7 billion), down from 284 billion yen the year before, the Tokyo-based company said Wednesday. Quarterly…
By Paul Sandle and John McCrank LONDON/NEW YORK (Reuters) -SoftBank’s decision to list British chip designer Arm is good news for New York, bad news for London and the best option left for the Japanese group after the collapse of its blockbuster sale to Nvidia. Arm, whose technology underpins the global smartphone industry, is most…
TOKYO (Reuters) – Honda Motor Co raised its full-year operating forecast on Wednesday, aided by cost cutting and a weak yen despite a persistent global chip shortage. It upgraded its latest forecast for an operating profit of 800 billion yen ($6.93 billion) for the year to March 31. Honda, like other automakers, has been forced…
TOKYO (AP) — Toyota’s profit slipped nearly 6% last quarter, the Japanese automaker said Wednesday, highlighting the headwinds automakers are facing in a computer chips crunch caused by the coronavirus pandemic. Toyota Motor Corp.’s profit for the three months through December totaled 791.7 billion yen ($6.9 billion), down from 838.7 billion yen the previous year….
By Tom Sims, Lawrence White and John O’Donnell FRANKFURT (Reuters) – Amid fears of a Russian invasion of Ukraine, Italy’s UniCredit has backed out of a potential acquisition in Russia and Austria’s Raiffeisen Bank International has set aside risk provisions for possible sanctions on Russia. What the region’s banks now fear most is that Russia…
