By Sam Nussey TOKYO (Reuters) – Sony Group, perched atop the gaming sector, is facing a fresh challenge from cash-rich rivals betting on a next-generation online video game boom as the Japanese conglomerate eyes expansion on multiple fronts, including electric cars. Microsoft Corp, a laggard in the generational console battle with Sony, took a major…
By Patturaja Murugaboopathy and Andrew Galbraith (Reuters) – Chinese real estate developers are staring at enormous amounts of debt maturing this year, at a time when property sales have slowed and traditional borrowing markets remain closed off following Beijing’s campaign to rein in borrowing in the sector. According to Refinitiv data, Chinese real estate developers…
LONDON (Reuters) – British consumer price inflation rose more than expected to 5.4% in December, up from November’s 5.1% reading and its highest since March 1992, the Office for National Statistics said on Wednesday. Economists polled by Reuters had forecast that the annual CPI rate would edge up to 5.2% in December. (Reporting by David…
By Shivam Patel (Reuters) – New York Attorney General Letitia James said late on Tuesday that former U.S. President Donald J. Trump’s family organization used “fraudulent or misleading” asset valuations to obtain economic benefits, including loans, insurance coverage, and tax deductions. James also took legal action to compel Trump and his adult children Donald Trump…
AMSTERDAM (Reuters) – ASML Holding NV, a key supplier to computer chip makers, on Wednesday reported better-than-expected fourth-quarter earnings of 1.77 billion euros ($2.01 billion) and said it sees sales growth of 20% in 2022. Analysts had expected net profit of 1.51 billion euros ($1.72 billion), up from 1.35 billion euros a year earlier, according…
By David Lawder WASHINGTON (Reuters) – The $350 billion in coronavirus relief funds for state and local governments has allowed U.S. cities to respond stronger and more nimbly to an ever changing COVID-19 pandemic, U.S. Treasury Secretary Janet Yellen said on Wednesday. In remarks prepared for delivery to a meeting of the U.S. Conference of…
(This November 14 story corrects headline, paragraph 1 to say contracts put on hold, not paused imports) KUALA LUMPUR (Reuters) – Canada has put on hold its contract with Malaysian glove maker Supermax Corp as it awaits the results of an audit, weeks after the United States barred the firm over allegations the company uses…
By Daniel Leussink TOKYO (Reuters) – Asia’s share markets struggled on Wednesday as U.S. Treasury yields hit fresh two-year highs and a global technology stock sell-off unsettled investors worrying about inflation and bracing for tighter U.S. monetary policy. Oil prices hit their highest since 2014 amid an outage on a pipeline from Iraq to Turkey…
By Sonali Paul MELBOURNE (Reuters) – Oil prices rose for a fourth day to a seven-year high as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight supply outlook amid worrisome geopolitical troubles in Russia and the United Arab Emirates. Brent crude futures rose $1.44, or 1.7%, to $88.95…
By Subrat Patnaik and Supantha Mukherjee (Reuters) – Microsoft Corp is buying “Call of Duty” maker Activision Blizzard for $68.7 billion in the biggest gaming industry deal in history as global technology giants stake their claims to a virtual future. The deal announced by Microsoft on Tuesday, its biggest-ever and set to be the largest…
