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 a robust performance at its music and microchip units. For the […]
Pfizer Inc (NYSE:PFE) has pledged to deliver critical new medicines more quickly in low-income nations, but its first such vaccine effort faces hurdles likely to delay distribution in poorer countries by several years, global health officials told Reuters. Pfizer made a commitment on more equitable access last year, following criticism that it prioritized wealthy nations […]
Amazon warns of a slowdown at its crucial cloud-computing division, while U.S. stock futures edge down after a fresh batch of other corporate results. Focus will turn to the Federal Reserve’s preferred inflation gauge later today, but in the meantime traders are digesting major economic data out of Europe U.S. stocks pointed lower on Friday […]
Sweden-based automaker Volvo Car Group reported a smaller-than-expected fall in first-quarter operating earnings on Thursday and said while overall demand remained healthy it may still cut costs as the global economy slows down. Volvo Cars, majority-owned by China’s Greely Holding, said operating earnings fell to 5.1 billion Swedish crowns ($494.63 million) in the quarter from […]
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, LG Display slumped to a 1.1 trillion won ($823 million) operating […]
South Korea’s Hyundai Motor Co said on Tuesday it had finalized a $5 billion electric vehicle (EV) battery joint venture in the U.S., as it reported first-quarter net profit had more than doubled, exceeding expectations. Hyundai and partner SK On, a battery unit of SK Innovation Co Ltd, will set up a new battery manufacturing […]
Singapore’s key consumer price gauge rose 5% in March, slightly lower than forecast, official data showed on Monday. The core inflation rate – which excludes private road transport and accommodation costs – rose 5% year-on-year in March, lower than the 5.5% rise seen in February. A Reuters poll of economists had forecast a 5.1% increase […]
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 week, softer-than-expected manufacturing and employment readings weighed on the greenback in […]
Most Asian stock markets retreated on Thursday, tracking a weak lead-in from Wall Street as fears of rising interest rates and slowing economic growth kept traders wary of risk-driven assets. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes were among the worst performers for the day, down about 0.6% and 0.7%, respectively. Chinese markets […]
Gold prices fell slightly in Asian trade on Wednesday, but hovered around key levels as markets awaited more cues on U.S. monetary policy from a string of upcoming Federal Reserve speakers and reports. The yellow metal retook the $2,000 level on Tuesday as the dollar and U.S. Treasury yields cooled after a recent recovery rally. […]
