SEOUL, South Korea (AP) — Samsung Electronics Co. has reported its operating profit rose 12% in the April-June quarter thanks to strong demand for server chips. The world’s top producer of smartphones and memory chips said in a statement Thursday that its operating profit for the last quarter rose to 14.1 trillion won ($10.8 billion)…
By Sabine Siebold BRUSSELS (Reuters) -NATO chief Jens Stoltenberg called on Kosovo to tone down tensions with Serbia on Sunday, two days after clashes between Kosovan police and protesters who are opposed to Albanian mayors taking office in ethnic Serbian areas. Stoltenberg, the transatlantic military alliance’s Norwegian secretary-general, said he had spoken to European Union…
BRUSSELS (Reuters) – Alphabet unit Google must remove data from online search results if users can prove that such information is manifestly inaccurate, Europe’s top court said on Thursday. “The operator of a search engine must dereference information found in the referenced content where the person requesting dereferencing proves that such information is manifestly inaccurate,”…
By Tiyashi Datta and Aditya Soni (Reuters) -Electronic Arts Inc lowered its annual bookings forecast on Tuesday as the publisher of “FIFA” and “Apex Legends” struggles with this year’s surge in the U.S. dollar and a gaming industry slowdown from pandemic heights. The company now expects annual bookings – an indicator of future revenue –…
By Ziyi Tang, Liangping Gao and Ryan Woo BEIJING (Reuters) -China has been cutting mortgage rates since last year to boost sales in its moribund property market, but the main result so far has simply been a rush by households to pay off existing mortgages early, potentially squeezing banks’ profits. Analysts estimate that nearly $700…
By David Milliken LONDON (Reuters) – Growth in Britain’s private sector slowed sharply last month, despite businesses facing lower inflation, as higher Bank of England interest rates weighed on demand, a survey showed on Wednesday. The S&P Global/CIPS services Purchasing Managers’ Index (PMI) for Britain dropped to 53.7 in June from May’s 55.2, in line…
SHANGHAI/HONG KONG (Reuters) – China’s cash-strapped local governments have suddenly rushed to an unusual corner of the debt market in Shanghai where ambiguous rules offer ways to skirt restrictions on onshore borrowing. Some analysts have described local government financing vehicles (LGFVs) as the “black hole” of China’s financial system, with debts of more than $9…
ROME (Reuters) – Italy’s Treasury is pushing for a change at the helm of Monte dei Paschi (MPS) of which it owns 64%, as the bailed-out lender gears up to tap markets for cash, three sources close to the matter said. The Treasury late last year refused to meet terms set by Italy’s second-biggest bank…
FRANKFURT (Reuters) – Allianz on Friday said it will pay about 207 million euros ($235 million) to acquire Greek insurer European Reliance, a move that will create the country’s fifth-largest insurer based on gross written premiums. The 7.80 euros per share bid represents a 15.7% premium to Friday’s closing price, Allianz said, adding it was…
WASHINGTON (Reuters) -U.S. President Joe Biden’s administration announced $325 million in new military aid for Ukraine on Wednesday to help its military in its war against Russia, including additional ammunition for High Mobility Artillery Rocket Systems (HIMARS), advanced missiles and anti-tank mines. It is the 36th security package for Ukraine since the Russian invasion in…
