LONDON (Reuters) – Oil edged further above $63 a barrel on Tuesday, supported by rising tensions in the Middle East after Iran’s seizure of a British tanker last week, although signs of faltering demand capped gains. FILE PHOTO: Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang province, China December […]
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Top investors lose $1 billion as China’s Nasdaq-style board reverses on day two
SHANGHAI (Reuters) – The biggest shareholders in China’s new Nasdaq-style STAR Market lost a combined $1 billion in the second day of trade on Tuesday, a day after the board’s roaring debut created three new billionaires. FILE PHOTO: A sign for STAR Market, China’s new Nasdaq-style tech board, is seen after the listing ceremony of […]
Read MoreLG Display says to diversify suppliers due to South Korea-Japan spat
SEOUL (Reuters) – South Korea’s LG Display Co Ltd (034220.KS) said it is looking to diversify its supplier base as it prepares for expanded trading curbs from Japan on some display-making materials which threaten to impact the broader tech industry. FILE PHOTO: A man walks out of the headquarters of LG Display in Seoul, October […]
Read MoreDiversity helps UBS defy banking gloom with profit rise
ZURICH (Reuters) – UBS (UBSG.S) delivered its best second-quarter results in nearly a decade on Tuesday, as strength in Swiss retail and corporate banking helped to offset weakness in wealth management. FILE PHOTO: A man walks past a UBS logo projected on a screen in Singapore, January 14, 2019. REUTERS/Feline Lim/File Photo Switzerland’s biggest bank […]
Read MoreChina’s BAIC buys 5% Daimler stake to cement alliance
FILE PHOTO: An employee works on an assembly line producing Mercedes-Benz cars at a factory of Beijing Benz Automotive Co. (BBAC) in Beijing, China, August 31, 2015. REUTERS/Kim Kyung-Hoon/File Photo FRANKFURT (Reuters) – China’s Beijing Automotive Group Co Ltd (BAIC) has bought a 5% stake in Daimler (DAIGn.DE), cementing its relationship with the German carmaker […]
Read MoreHuawei head says group can sign ‘no backdoor’ deal with any country: Italy paper
FILE PHOTO: Huawei founder Ren Zhengfei attends a panel discussion at the company headquarters in Shenzhen, Guangdong province, China June 17, 2019. REUTERS/Aly Song/File Photo MILAN (Reuters) – Huawei Technologies, the Chinese technology and telecoms group under pressure from the United States, is ready to sign a “no backdoor” agreement with any country, its founder […]
Read MoreECB, Fed rate cut hopes lift global stocks, sterling sags
TOKYO (Reuters) – Expectations that the European Central Bank and Federal Reserve will cut interest rates boosted stocks globally, while the pound sagged on worries that likely new prime minister Boris Johnson would lead Britain into a no-deal exit from the European Union. FILE PHOTO: Visitors look at a stock quotation board at Tokyo Stock […]
Read MoreSouth Korea’s LG Display posts deeper second quarter loss on TV panel supply glut
FILE PHOTO: A man walks out of the headquarters of LG Display in Seoul, October 20, 2011. REUTERS/Jo Yong-Hak/File Photo SEOUL (Reuters) – South Korea’s LG Display Co Ltd (034220.KS) on Tuesday posted a deeper second-quarter operating loss that missed analyst estimates, as a global supply glut pushed down prices of screens for television sets. […]
Read MoreOil rises on Mideast tensions, glum demand outlook caps gains
SINGAPORE (Reuters) – Oil prices edged up on Tuesday on concerns about possible supply disruptions in the Middle East, but a weaker demand outlook kept a lid on gains, helped by a vow by the International Energy Agency (IEA) to keep global markets adequately supplied. FILE PHOTO: Pumpjacks are seen against the setting sun at […]
Read MoreSouth Korea’s LG Display posts deeper second-quarter operating loss, misses estimates
FILE PHOTO: A man walks out of the headquarters of LG Display in Seoul, October 20, 2011. REUTERS/Jo Yong-Hak/File Photo SEOUL (Reuters) – South Korea’s LG Display Co Ltd (034220.KS) on Tuesday posted a deeper second-quarter operating loss that missed analyst estimates, as a global supply glut pushed down prices of screens for television sets. […]
Read MoreChina’s BAIC buys 5% Daimler stake; Daimler welcomes investment
FILE PHOTO: The logo of Beijing Automotive Group (BAIC) is seen during the Auto China 2016 auto show in Beijing, China, April 29, 2016. REUTERS/Damir Sagolj/File Photo FRANKFURT (Reuters) – Beijing Automotive Group Co Ltd said on Tuesday that it had purchased a 5% stake in German luxury carmaker Daimler (DAIGn.DE). Daimler, which since 2013 […]
Read MoreWarren Buffett’s charity lunch with cryptocurrency entrepreneur postponed
FILE PHOTO: Warren Buffett, Chairman, CEO and largest shareholder of Berkshire Hathaway takes part in interviews before a fundraising luncheon for the nonprofit Glide Foundation in New York September 8, 2015. REUTERS/Lucas Jackson/File Photo HONG KONG (Reuters) – Cryptocurrency entrepreneur Justin Sun has postponed his $4.57 million charity lunch with Warren Buffett due to ill […]
Read MoreECB, Fed rate cut hopes lift stocks, sterling sags
TOKYO (Reuters) – Expectations that the European Central Bank and Federal Reserve will cut interest rates boosted stocks globally, while the pound sagged on worries that likely new prime minister Boris Johnson would lead Britain into a no-deal exit from the European Union. FILE PHOTO: Visitors look at a stock quotation board at Tokyo Stock […]
Read MorePower traders tackle renewables puzzle in Danish ‘Silicon Valley’
AARHUS, Denmark (Reuters) – Far from the sprawling financial hubs of London or Frankfurt, high-tech traders in the Danish university city of Aarhus are driving rapid change in European power markets, easing the shift to renewables with technology that also carries some risks. FILE PHOTO: View of Aboulevarden in the centre of the city of […]
Read MoreOil creeps up as MidEast tensions flare, but gains capped by glum demand outlook
SINGAPORE (Reuters) – Oil prices edged higher on Tuesday amid lingering concerns about possible supply disruptions in the Middle East, but an overall weaker demand outlook kept a lid on gains, helped by a vow by the International Energy Agency (IEA) to take swift action to keep global oil markets adequately supplied. FILE PHOTO: Pumpjacks […]
Read MoreUBS posts surprise second quarter profit boost
FILE PHOTO: People walk past a branch office of Swiss bank UBS in Zurich, Switzerland January 27, 2017. REUTERS/Arnd Wiegmann/File Photo ZURICH (Reuters) – UBS (UBSG.S) on Tuesday beat forecasts with a $1.4 billion net profit for its second quarter of 2019, as gains in its advisory business softened an investment banking fall and boosted […]
Read MoreOil inches up amid Middle East tensions; frail demand outlook caps gains
SINGAPORE (Reuters) – Oil prices edged higher on Tuesday amid lingering concerns about possible supply disruptions in the Middle East, but an overall weaker demand outlook kept a lid on gains, helped by a vow by the International Energy Agency (IEA) to take swift action to keep global oil markets adequately supplied. FILE PHOTO: Pumpjacks […]
Read MoreHopes of ECB, Fed rate cuts boost global stocks, British pound sags
TOKYO (Reuters) – Expectations that the European Central Bank and Federal Reserve will cut interest rates boosted stocks globally, while the pound sagged on worries that likely new prime minister Boris Johnson would lead Britain into a no-deal exit from the European Union. FILE PHOTO: Visitors look at a stock quotation board at Tokyo Stock […]
Read MoreHuawei’s U.S. research arm slashes jobs as trade ban bites
SANTA CLARA, Calif./HONG KONG (Reuters) – China’s Huawei Technologies laid off more than two-thirds of the 850-strong workforce at its Futurewei Technologies research arm in the United States, after being blacklisted by the government. Futurewei, which has offices in Silicon Valley and the greater Seattle, Chicago and Dallas areas, said it cut more than 600 […]
Read MoreOil prices ease as traders weigh Middle East tensions, demand
SINGAPORE (Reuters) – Oil prices inched lower on Tuesday as the International Energy Agency (IEA) said it would act quickly if needed to keep the market supplied amid tensions in the Middle East and traders eyed a weaker demand outlook. FILE PHOTO: Pumpjacks are seen against the setting sun at the Daqing oil field in […]
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