TOKYO (Reuters) – Sony Corp (6758.T) will turn its financial arm, Sony Financial Holdings Inc (8729.T), into a wholly owned unit through a tender offer worth about 400 billion yen ($3.72 billion), the Japanese electronics and entertainment giant said on Tuesda... More »
(Reuters) – Holiday Inn-owner InterContinental Hotels (IHG.L) said on Monday it had raised 600 million pounds ($747 million) from Bank of England loans under the government’s coronavirus aid scheme as it estimated a 25% plunge in global revenue per available r... More »
STOCKHOLM (Reuters) – Appliance maker Electrolux AB (ELUXb.ST) said on Sunday its North American business would take a higher than forecast $70 million earnings hit in the fourth quarter, partly due to extra costs related to its move into a new facility in Sou... More »
CHICAGO (Reuters) – Delta Air Lines Inc (DAL.N) sees another annual rise in profit and revenue in 2020 driven by what Chief Executive Ed Bastian called a growing interest in air travel by consumers across the generational spectrum. “People are more inspired to... More »
WASHINGTON (Reuters) – Friday’s booming U.S. jobs report should give the Federal Reserve all it needs to stick to its plan not to cut interest rates further in the near future, so when U.S. central bankers meet this week, most of the focus will be on their out... More »
SYDNEY (Reuters) – Australia’s AMP Ltd (AMP.AX) has lost at least one major pension contract while other companies are reviewing their relationship with the wealth manager, which has struggled to stem a client exodus following revelations of serious misconduct... More »
FRANKFURT (Reuters) – European Central Bank President Mario Draghi said on Thursday that the euro zone economy was in a period of “protracted” economic weakness, with inflation staying low and the balance of risks tilted toward the downside. “Incoming informat... More »
(Reuters) – Australia’s TPG Telecom Ltd said on Tuesday it will take A$228 million ($163 million) in writedowns in its first-half results after halting its mobile network rollout due to a ban on the use of equipment from Huawei Technologies Co Ltd. TPG said la... More »
LONDON/NEW YORK (Reuters) – After an unexpected rally that carried the dollar to 18-month peaks and saw it end 2018 as investors’ top trade, the currency faces challenges in the coming year. They include an expensive valuation, a flagging equity boom, waning c... More »
HONG KONG (Reuters) – Huawei Technologies [HWT.UL] is expected to record a 21 percent jump in revenue for 2018 to $109 billion, its rotating chairman said, marking the Chinese tech giant’s fastest pace of business growth in two years despite heightened global ... More »
NEW YORK (Reuters) – BlackRock Inc’s (BLK.N) Rick Rieder is buying longer-term bonds because softening inflation could force the U.S. Federal Reserve to pause interest rate hikes, the top fixed-income investor told Reuters this week. Rieder, who is chief inves... More »
FRANKFURT (Reuters) – BMW (BMWG.DE) expects headwinds from rising currency and commodities prices to reach a mid to high triple-digit million euro amount in 2019, Chief Financial Officer Nicolas Peter said in a statement on Monday. BMW still aims to reach an o... More »
LONDON (Reuters) – Glencore (GLEN.L) has appointed Peter Freyberg to the newly created role of head of industrial mining, the global trader and miner said on Monday, while its head of copper marketing Telis Mistakidis retires at the end of the year. The London... More »
NEW YORK (Reuters) – Top BlackRock Inc (BLK.N) bond investor Rick Rieder halved exposure in recent months to a once-major bet in his portfolios on emerging markets on concerns including that the dollar could move higher, he told Reuters on Friday. “I still wou... More »
LONDON (Reuters) – Mark Read, tasked with running WPP (WPP.L) after the sudden exit of founder Martin Sorrell, said he would look at restructuring the world’s biggest advertising group but ruled out a break up. Digital boss Read, appointed joint chief operatin... More »
LONDON (Reuters) – Mark Read, WPP’s (WPP.L) joint chief operating officer, said he would look at new ways to restructure the group but would not put a timetable on how long that would take and did not think a full break up made sense. Read was appointed to run... More »
(Reuters) – Australia and New Zealand Banking Group (ANZ) said it would book a loss of A$632 million ($484 million) on the divestment of two of its wealth businesses last year, which will be reflected in its half-year results. It sold its OnePath pensions and ... More »
FILE PHOTO: Dialog semiconductor logo is pictured at a company building in Germering near Munich, Germany August 15, 2016. REUTERS/Michaela Rehle/File Photo FRANKFURT (Reuters) – Dialog Semiconductor (DLGS.DE) expects Apple (AAPL.O), its top customer, to use i... More »
Long-dated bonds "represent a significant risk" as investors focus on signs inflation is rising, a top portfolio manager with BlackRock Inc said on Wednesday. More »
(Reuters) – IT services firm Computacenter Plc said on Monday its 2017 adjusted pretax results were set to beat its expectations, driven by strength across Germany, the United Kingdom and France. Raising its guidance for the fourth time in the last one year, t... More »
Mobile memory chips made by chipmaker SK Hynix are seen in this picture illustration taken in Seoul May 10, 2013. REUTERS/Lee Jae-Won SEOUL (Reuters) – After a blistering year-and-a-half long surge, a sudden drop in some memory prices, followed by Samsung Elec... More »
FILE PHOTO: Freight containers stand half immersed in water after the Elbe River broke its bank at a storage facility at the harbour in Riesa, Germany, June 6, 2013. REUTERS/Thomas Peter/File Photo BERLIN (Reuters) – The frustration of Roberto Azevedo was evid... More »
FILE PHOTO: The logo of German software group SAP is pictured in Vienna, Austria, July 25, 2016. REUTERS/Leonhard Foeger/File Photo FRANKFURT (Reuters) – German business software group SAP SE (SAPG.DE) said on Friday lowered the forecast for its expected effec... More »
FILE PHOTO: French telecom operator Orange Chairman and Chief Executive Officer Stephane Richard attends a shareholders meeting in Paris, France, June 1, 2017. REUTERS/Charles Platiau/File Photo PARIS/LONDON (Reuters) – Orange’s boss Stephane Richard told inve... More »
FILE PHOTO: The logo of BMW before the company’s annual news conference in Munich, southern Germany, March 21, 2017. REUTERS/Michael Dalder/File Photo FRANKFURT (Reuters) – German carmaker BMW (BMWG.DE) will further raise its spending on research and developme... More »
Insurers and reinsurers around the globe are looking to raise rates after what looks set to be their most costly quarter on record. More »
Smartphone component maker Fingerprint Cards (FINGb.ST) (FPC) warned revenue would be far below market estimates in the third quarter as the industry switches to cheaper user-recognition technology, sending its shares tumbling 22 percent. More »
The cost of electric vehicles (EVs) will fall to match those running on combustion engines by 2022, a key trigger that will mean by 2035 half of all passenger vehicles sold globally will be electric, according to the head of a top energy consultancy. More »
Fujifilm Holdings Corp (4901.T) said it aimed to spend 500 billion yen ($4.54 billion) in strategic acquisitions over three years as it seeks growth outside its traditional photographic film business, which has been shrinking. More »
General Electric Co (GE.N) wants its industrial software business to cut costs and lift profits next year under new chief executive John Flannery, and is considering expanded partnerships and the possible sale of some equity in the unit, according to people fa... More »
FILE PHOTO: Customers push shopping trolleys on an escalator at the Bercy shopping centre in Charenton Le Pont, near Paris, August 29, 2013. Data in the coming week should confirm the euro zone economy is running hot, after the IMF upgraded growth forecasts an... More »
FILE PHOTO: Bank of Canada Governor Stephen Poloz (L) speaks with Bank of England governor Mark Carney as they gather for a family photo after a meeting of G-20 finance ministers and central bank governors during the IMF-World Bank annual meetings in Washingto... More »
FILE PHOTO: The London Eye, run by Merlin Entertainments, is seen at dawn in central London, Britain October 21, 2013. REUTERS/Toby Melville/File Photo Merlin Entertainments, operator of Madame Tussauds waxworks and other attractions, has seen a fall in demand... More »
FILE PHOTO – The BlackRock logo is seen outside of its offices in New York City, U.S., October 17, 2016. REUTERS/Brendan McDermid/File Photo One of the portfolio managers behind BlackRock Inc’s largest mutual fund says his team has been buying safe-haven asset... More »
FILE PHOTO – A combination file photo shows international banks Morgan Stanley, Barclays, Goldman Sachs, JPMorgan, Credit Suisse, Citigroup and Bank of America Merrill Lynch from Reuters archive. REUTERS/File photos Large financial institutions across the worl... More »
Pedestrians walk by the main entrance of the Buenos Aires Stock Exchange, Argentina, April 18, 2016. REUTERS/Marcos Brindicci – RTX2AHAB Latin American governments and companies could soon step up bond sales, seizing on an increased appetite for deals as a reg... More »
The logo of Morgan Stanley is seen at an office building in Zurich, Switzerland September 22, 2016. REUTERS/Arnd Wiegmann/File Photo Grupo BTG Pactual SA’s stock is undervalued based on its ability to outperform peer banks in Latin America, where investment-ba... More »
Lower Manhattan including the financial district is pictured from the Manhattan borough of New York, U.S. June 1, 2016. REUTERS/Carlo Allegri/File Photo After several years of restructuring and regulatory pressure, investment banks have reached a turning point... More »
Rick Rieder, BlackRock’s Global Chief Investment Officer, speaks during the Reuters Global Investment Outlook Summit in New York City, U.S., November 14, 2016. REUTERS/Brendan McDermid Markets are emboldened by the tone of monetary policymakers following an in... More »
Southwest Airlines planes are seen in front of the Las Vegas strip, Nevada, United States in this April 23, 2015, file photo. REUTERS/Lucy Nicholson/Files Southwest Airlines Co (LUV.N) cut its forecast for a key revenue measure on Friday, citing “unexpected so... More »
Tetraphase Pharmaceuticals Inc Chief Executive Guy Macdonald said annual sales of the company’s lead experimental antibiotic for serious bacterial infections could climb as high as $700 million if approved. More »
The company logo of Sony Cooperation is seen at the CP+ camera and photo trade fair in Yokohama, Japan, February 25, 2016. REUTERS/Thomas Peter/File Photo Sony Corp (6758.T) said on Monday it booked an impairment charge of 112.1 billion yen ($976 million) on t... More »
A trader at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., December 30, 2016. REUTERS/Stephen Yang Wall Street’s rally could be derailed by renewed worries about President-elect Donald Trump’s policies, a resurgent dollar or potential wi... More »
Pedestrians walk past a logo of Toshiba Corp outside an electronics retailer in Tokyo, Japan, June 25, 2015. REUTERS/Yuya Shino/File Photo Toshiba Corp said it may have to book several billion dollars in charges related to a U.S. nuclear power plant constructi... More »
Pedestrians walk past a logo of Toshiba Corp outside an electronics retailer in Tokyo, Japan September 14, 2015. REUTERS/Toru Hanai/File Photo Shares in chips-to-construction group Toshiba Corp tumbled 20 percent on Wednesday, hitting the Tokyo exchange’s dail... More »
An electoral poster of Donald Trump is displayed on the floor of the New York Stock Exchange (NYSE) the morning after the U.S. presidential election in New York City, U.S., November 9, 2016. REUTERS/Brendan McDermid For some equity funds and those betting on m... More »
Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network’s Neil Cavuto show in New York February 11, 2014. REUTERS/Brendan McDermid U.S. voters’ decision to install Donald Trump in the White House may extend the life of the aging, se... More »
BOSTON/NEW YORK It only took six months for some of the world’s most prominent team-based hedge funds to go from winners to losers. Blackstone Group’s Senfina Advisors, Citadel’s Global Equities Fund and the Visium Global Fund were among the so-called multi-ma... More »
PAJU, South Korea South Korea’s LG Display Co Ltd is seeing signs of improvement in the display panel industry and expects its business performance to pick up in the second half of the year, the firm’s chief executive said. “There is a sign of things changing ... More »
NEW YORK Hedge fund manager David Einhorn has built a reputation on his ability to crater a company’s stock. His prescient short calls such as Allied Capital and Lehman Brothers had been announced in previous years at the annual Sohn Investment Conference in N... More »
FRANKFURT Europe’s largest software company, SAP (SAPG.DE), warned late on Friday that first-quarter results would be weaker than expected due to slower sales of software licenses to corporate customers, particularly in Brazil and the United States. Software l... More »
Japanese electronics maker Panasonic Corp will scrap its 10 trillion yen ($88.93 billion) group sales target for fiscal year ending March 2019 due to a cooling global business environment, the Nikkei reported. The company is now targeting sales of about 9 tril... More »
NEW YORK Stocks “can go up five, 10 percent, maybe” despite a slowing U.S. economy, BlackRock Inc’s chief investment officer of global fixed income Rick Rieder said on Tuesday. The market’s negative attitude towards the high-yield corporate debt market – relat... More »
TORONTO Prem Watsa, the head of Fairfax Financial Holdings (FFH.TO) and a well known contrarian investor, said on Friday he is concerned about the global economy, pointing to record low bond yields and limited policy levers left in the hands of central bankers... More »
TOKYO Japan’s Sharp Corp warned of a six-month operating loss due to increased pricing pressure for its smartphone display business. The company forecast an operating loss of 26 billion yen ($215 million) compared with its previous forecast for a profit of 10 ... More »
BEIJING Boeing Co (BA.N) on Tuesday raised its forecast for China’s aircraft demand over the next 20 years despite a slowing economy and a tumbling stock market that have triggered a worldwide slide in equity and commodity prices. The U.S. plane maker expects ... More »
NEW YORK Wall Street’s selloff on Monday, sparked by a near-9 percent dive in Chinese shares, was a long-overdue correction that analysts said is unlikely to undermine support for U.S. stocks going forward. “We are unlikely to be going into a bear market,” sai... More »
