Glencore Plc posted an almost one-third fall in first-half core profit on Wednesday, missing market expectations, as it was hit by a collapse in global cobalt prices that would force it to suspend production at its Mutanda mine.
Japan’s SoftBank Group Corp raked in a better-than-expected quarterly operating profit due to a leap in investing gains from the $100 billion Vision Fund.
SoftBank Group Corp’s first-quarter operating profit fell 3.7%, but was well above estimates, compared to the same period last year that saw the sale of part of its stake in chip designer Arm’s China business.
Glencore Plc reported a 32% drop in first-half core profit and said it was planning to put its Mutanda mine in the Democratic Republic of Congo into temporary care and maintenance by year end.
Commerzbank on Wednesday posted net profit in the second quarter that was little changed from a year ago, helped by low taxes, but the German bank said its target for a slight increase in full-year net profit had become “significantly more ambitious”.
Shares in Asia fell for an eighth straight session on Wednesday on lingering worries over the escalating U.S.-China trade war, but losses and nerves were soothed somewhat by White House assurances that it wants to press ahead with negotiations.
Germany’s Commerzbank on Wednesday posted net profit in the second quarter that was little changed from a year ago, helped by low taxes, but said its target for a slight increase in full-year net profit had become “significantly more ambitious”.
Commercial Aircraft Corp of China (COMAC) aims to obtain Chinese certification for its C919 jet in 2021, the company said, marking a delay from a previous timetable for the jet which aims to challenge Airbus SE and Boeing planes.
Commercial Aircraft Corp of China (COMAC) aims to obtain certification from China for its narrowbody C919 jet in 2021, state media reported on Wednesday, citing the chief designer Wu Guanghui for the C919 programme.
Members of the United Nations on Wednesday signed the Singapore Convention on Mediation, an agreement it hopes will make it easier to settle cross-border commercial disputes and stabilise trade relationships.
Oil prices steadied on Wednesday after falling at the start of the session, with the potential for damage to the global economy and fuel demand from the intensifying Sino-U.S. trade dispute continuing to cast a shadow over the market.
Asian shares steadied slightly on Wednesday as investors caught their breath from a searing week-long selloff, with steps taken by Chinese authorities to contain a sliding yuan helping calm fears of a full-blown Sino-U.S. trade and currency war.
Twitter Inc said on Tuesday that it may have used data for personalized ads without a user’s permission due to issues with the microblogging website’s settings.
Walt Disney Co on Tuesday said it would offer a $13-per-month bundle of its three streaming services starting in November, a move to attract audiences who have embraced digital services such as Netflix Inc .
Barneys New York Inc filed for bankruptcy protection on Tuesday and put itself up for sale, pushed to the brink by falling revenue and soaring rent at its stores that caused many vendors to effectively stop shipping merchandise to the luxury department store chain.
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