BEIJING (Reuters) – Oil prices fell on Thursday as investors cashed in profits from the 2% gains in the previous session after the U.S. Federal Reserve indicated an interest rate hike in March, leading to a technical correction in surging energy markets. Futures pulled back amid a broader decline in financial markets triggered by the…

HONG KONG (Reuters) – Shares of China Evergrande Group fell 5.7% to HK$1.67, lowest since Jan. 19, after the debt-laden developer said it targets to have a restructuring proposal within six months. That compared to a 2% drop in the benchmark Hang Seng Index and a 3.4% decline in the Hang Seng Mainland Properties Index….

By Heekyong Yang and Jihoon Lee SEOUL (Reuters) -LG Energy Solution Ltd (LGES) jumped in its trading debut on Thursday after South Korea’s biggest-ever IPO attracted bids worth $13 trillion, making it the country’s second-most valuable company. LGES shares opened at 597,000 won versus an initial public offering (IPO) price of 300,000 won. But the…

By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics Co Ltd on Thursday forecast a recovery in global tech device demand in 2022 after reporting its best fourth-quarter profit in four years, but warned of ongoing challenges from supply chain issues and COVID-19. The tech giant said its memory chip business this year “expects…

By Joyce Lee and Heekyong Yang SEOUL (Reuters) – Samsung Electronics Co Ltd on Thursday forecast a recovery in global demand for tech devices in 2022 after reporting its highest fourth-quarter profit in four years, but warned of ongoing challenges from supply chain issues and COVID-19. Fourth-quarter profit for the world’s largest memory chip and…

By Hyunjoo Jin and Nivedita Balu SAN FRANCISCO (Reuters) – Tesla Inc on Wednesday forecast annual deliveries would comfortably grow by more than 50% year-over-year in 2022 despite supply chain issues that it said would continue through this year and limit electric vehicle production. The upbeat outlook from CEO Elon Musk sent shares up 1.6%…

NEW YORK (Reuters) – The Federal Reserve on Wednesday signaled it is likely to raise U.S. interest rates in March and reaffirmed plans to end its bond purchases that month before launching a significant reduction in its asset holdings. The combined moves will complete a pivot away from the loose monetary policy that has defined…

(In 2nd paragraph, company corrects to read “$2.8 billion, 21 times,” not “$2.7 billion, more than 25 times.”) (Reuters) -Robinhood Markets Inc on Tuesday highlighted steps it had taken over the past year to avoid imposing trading restrictions and said it was in a “strong position” to support customers through unlikely market events. The online…

(Reuters) -Levi Strauss & Co forecast full-year sales and profit above Wall Street estimates on Wednesday, encouraged by higher prices and robust demand for the denim maker’s jeans and jackets with more people stepping out of their homes. Shares in the company, which also topped market expectations for fourth-quarter results, rose about 2% in extended…