Exclusive-SoftBank’s Arm China Lays Off Workers As Outlook Grim -Sources
SoftBank Group Corp's chip technology firm Arm Ltd's China joint venture laid off 90-95 employees last week to cope with a challenging business outlook this year, according to three sources familiar with the situation. The layoffs come as SoftBank tries to set up a...
Gold Prices Dip From $2,000, Banking Crisis in Focus
Gold prices retreated on Monday as traders locked in profits after a strong run of gains, but remained near key levels hit last week as fears of a global banking crisis kept safe haven demand high. Bullion prices surged to the over $2,000 last...
Credit Suisse Lifeline, First Republic Rescue: What You Need To Know
Credit Suisse headed into a make-or-break weekend after some rivals grew cautious in their dealings with the struggling Swiss lender, and its regulators urged it to merge with UBS AG. At least four major banks, including Societe Generale (OTC:SCGLY) and Deutsche Bank (ETR:DBKGn), are...
AstraZeneca Q4 Core Earnings Beat Estimates Despite Esing COVID Vaccine Demand
AstraZeneca PLC (LON:AZN) posted better-than-expected core income in the fourth quarter, thanks to strong demand for its cancer and rare disease therapies that helped make up for waning sales of its COVID-19 vaccine. Core earnings per share during the three months ended on December...
Gold Steadies Around $2,000 As Recession Fears Fuel Safe Haven Demand
Gold prices moved little on Friday, but stuck to key levels as a string of weak economic readings brewed concerns over slowing growth and fed into haven demand for the yellow metal. While gold prices were pressured by some strength in the dollar this...
Gold Prices Muted Ahead of Fed Meeting as Safe Haven Appeal Wanes
Gold prices moved in a tight range on Wednesday, stabilizing after a sharp drop in the prior session as markets hunkered down ahead of a Federal Reserve interest rate decision, while easing fears of a banking crisis spelled lesser safe haven demand for the...
Asian Stocks Hit By Tech Rout, More Fed Cues Awaited
Most Asian stock markets sank on Wednesday tracking overnight losses on Wall Street, with technology-heavy indexes losing the most as caution kicked in ahead of the minutes of the Federal Reserve’s February meeting. Japan’s Nikkei 225, the Taiwan Weighted index, and South Korea’s KOSPI...
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...
Volkswagen to Invest $193 Billion Over 5 Years To Hit EV Target
Volkswagen (ETR:VOWG_p) plans to invest 180 billion euros ($192.76 billion) over the next five years in areas including battery production and its North American operations, it said on Tuesday, with spending on combustion engines to fall from 2025. As it works toward a target...
Asian Stocks Skittish After The Fed, Chinese Markets Reopen Stronger
Most Asian stock markets kept to a tight range on Thursday as investors mulled over rising interest rates and a worsening economic outlook, although strong holiday spending figures from China supported local shares. China’s Shanghai Composite index rose 0.6%, while losses in the Shanghai...