Sony Shares Tumble On Weaker-Than-Expected Annual Outlook
Sony (NYSE:SONY) Group Corp's shares fell as much as 4.8% on Monday after the Japanese electronics and entertainment conglomerate's annual profit outlook fell short of market expectations. The company on Friday posted a record operating profit for the year ended March 2023, driven by...
LG Display Talks Up H2 Recovery Hopes After 4th Straight Quarterly Loss
South Korean display panel maker LG Display (NYSE:LPL) on Wednesday pinned hopes for a second-half turnaround on the tech sector replenishing depleted inventories after racking up a fourth straight quarterly loss that trailed estimates. Amid depressed global demand for devices like computers and monitors,...
Dollar Edges Lower, But Remains Near Highs On Iflation Concerns
The U.S. dollar edged lower in early European trade Monday, but remains elevated as traders price in more interest rate hikes by the Federal Reserve this year in the wake of recent hot inflation data. At 03:00 ET (08:00 GMT), the Dollar Index, which...
VW Pledges to Double Down On EVs in China, Urges Extension of NEV Tax Breaks
A senior Volkswagen AG (OTC:VWAGY) China executive reiterated on Saturday the German automaker’s commitment to quickening the pace of electrification in the world’s second largest economy despite issues such as intensified competition and weak demand. VW plans to increase the number of charging posts...
Vaccine Makers Prep Bird Flu Shot For Humans ‘Just in Case’; Rich Nations Lock in Supplies
Some of the world’s leading makers of flu vaccines say they could make hundreds of millions of bird flu shots for humans within months if a new strain of avian influenza ever jumps across the species divide. One current outbreak of avian flu known...
ECB Likely To Stick To Big Rate Hike Despite Banking Turmoil, Source Says
European Central Bank policymakers are still leaning towards a half-percentage-point rate hike on Thursday, despite turmoil in the banking sector, as they expect inflation will remain too high in coming years, a source told Reuters. Investors had begun to doubt the ECB's commitment to...
Shell, Chevron And Petrobras Weigh Guyana Oil Auction Bids -Sources
Guyana's coming auction of offshore oil exploration blocks has lured at least 10 companies including Shell (LON:RDSa), Petrobras and Chevron , to consider the decade's hottest oil region, people close to the matter said. The South American country is offering 14 offshore blocks, a...
Exclusive-Intel Weighs Boost To Investment In Vietnam Chip Packaging Plant -Sources
Intel Corp is considering a significant increase in its existing $1.5-billion investment in Vietnam to expand its chip testing and packaging plant in the Southeast Asian nation, two sources familiar with the matter told Reuters. The possible move, which one source said could be...
Asia FX Surges, Dollar Sinks on Fed’s ‘Dovish Hike’
Most Asian currencies rose sharply on Thursday, while the dollar fell to a seven-week low after the Federal Reserve raised interest rates but hinted at a potential pause in its tightening cycle, although rates are likely to remain higher for longer. China’s yuan surged...
Oil on Edge as Markets weigh Poland Strike, Sluggish Demand
Oil prices fell slightly on Wednesday as investors awaited more clarity on a potential Russian missile strike against Poland, while mixed U.S. inventory data and concerns over slowing Chinese demand also brewed more uncertainty in the market Crude markets were focused squarely on the...