LONDON (AP) — BP PLC reported its biggest full-year profit for eight years on Tuesday, its coffers boosted by soaring oil and gas prices that have hiked domestic fuel bills for millions of people. The British energy giant said its underlying replacement cost profit — the industry standard — was $12.8 billion for 2021, compared…
By Jane Lanhee Lee and Josh Horwitz SAN FRANCISCO/SHANGHAI (Reuters) -SoftBank Group Corp has shelved its blockbuster sale of Arm Ltd to U.S. chipmaker Nvidia Corp valued at up to $80 billion citing regulatory hurdles and will instead seek to list the company. Britain’s Arm, which named a new CEO on Tuesday, said it would…
STOCKHOLM (Reuters) -Volvo Cars will invest 10 billion crowns ($1.1 billion) in its manufacturing plant in Gothenburg in the next few years to prepare for production of fully electric cars, it said on Tuesday. The investment follows an announcement by Volvo and battery maker Northvolt last week to build a joint battery plant in Gothenburg,…
TOKYO (AP) — Japanese automaker Nissan swung back into the black for the quarter through December, despite shortages of computer chips that have hit the entire industry and many other manufacturers. Nissan Motor Co., allied with Renault SA of France, reported Tuesday a 32.7 billion yen ($284 million) profit for the fiscal third quarter, a…
TOKYO (AP) — SoftBank’s planned sale of the British semiconductor and software design company Arm to U.S. chip maker Nvidia has fallen through, but the Japanese technology investor immediately turned bullish on taking it public. SoftBank Group Corp. said Tuesday it plans an initial public offering of Arm after the intended sale to Nvidia failed…
By Sam Nussey TOKYO (Reuters) -SoftBank Group Corp reported on Tuesday a 97% tumble in quarterly profit and the collapse of a deal to sell chip designer Arm worth over $60 billion, mounting pressure on the Japanese conglomerate to support its sagging shares. SoftBank reported that it had squeezed out a net profit of 29…
BEIJING (AP) — Asian stocks rose Wednesday after Wall Street rebounded as investors waited for U.S. inflation data that might influence the pace of Federal Reserve interest rate hikes. Shanghai, Tokyo, Hong Kong and Sydney advanced. Wall Street’s benchmark S&P 500 rose 0.8%, recovering from the previous day’s slide. Investors are waiting for U.S. inflation…
BANGKOK (AP) — A customer of Telenor’s Myanmar telecommunications business has filed a complaint with Norway’s data protection authority, saying the company’s plan to sell the business risks a potentially dangerous breach of privacy, the law firm representing the person said. After the military ousted Myanmar’s elected government last year, Norway-based Telenor Group announced it…
By Nick Carey LONDON (Reuters) – Governments and utilities need ambitious plans to cut red tape to install vehicle chargers if Europe is to be ready for 130 million electric vehicles (EVs) by 2035, a new report from EY and Eurelectric said on Tuesday. According to “Power sector accelerating e-mobility,” by the professional services group…
KUALA LUMPUR (Reuters) – Malaysian glove maker Supermax Corp Bhd has rolled out a new foreign worker management policy that expands its recruitment fee remediation scope to include former workers directly hired and contracted, it said on Tuesday. The policy will cover workers who left the company before October 2019, Supermax said in a statement…
