Business & Finance News
A solid start from Europe kept world stocks at a three-week high on Tuesday after Asia was knocked back by a shock profit warning from tech giant Samsung and a tick-up in borrowing costs.
Samsung Electronics surprised the market on Tuesday with an estimated 29 percent drop in quarterly profit, blaming weak chip demand in a rare commentary issued to “ease confusion” among investors already fretting about a global tech slowdown.
German carmaker BMW on Tuesday said it achieved record sales of 2.49 million BMW, Mini and Rolls-Royce vehicles last year.
Unions representing Ryanair cabin crew in Spain called off plans to strike on Tuesday to allow time for further talks, the SITCPLA and USO unions said in a statement.
China’s indebted HNA Group met bankers on Tuesday to tout the latest assets that the sprawling conglomerate is putting on the block as it looks to raise funds and stave off an intensifying cash crunch.
S&P Global Ratings on Monday stripped California power utility PG&E Corp of its investment-grade credit rating and kept it under review for a further downgrade, citing political and regulatory pressure and uncertainty as it faces massive claims stemming from deadly wildfires.
India’s Supreme Court ruled on Tuesday that U.S. seed maker Monsanto can claim patents on its genetically modified (GM) cotton seeds in the world’s biggest producer of the fibre.
A nationalist group close to Indian Prime Minister Narendra Modi’s party said on Tuesday it would seek a legislative amendment to the rules governing patents, after the country’s top court ruled in favor of Monsanto’s cotton seed patent.
South Korea’s LG Electronics Inc said on Tuesday its fourth-quarter operating profit likely plummeted 80 percent from the same period a year earlier, falling well below analyst expectations.
Nissan Motor Co had agreed with former chairman Carlos Ghosn to take on his personal foreign exchange contracts, his lawyer said, disputing allegations of financial misconduct.
Asian shares dipped on Tuesday, running out of steam after a brief rally sparked by hopes that Washington and Beijing may be inching towards a trade deal and that U.S. Federal Reserve would halt its tightening if economic growth slows further.
India’s Supreme Court on Tuesday allowed Monsanto to claim patents on its genetically modified cotton seeds in the world’s biggest producer of the fiber, a company source said.
S&P Global Ratings on Monday stripped PG&E Corp of its investment-grade credit rating, citing indications of a significant deterioration in the political and regulatory environment for the California power utility.
Job openings are outnumbering unemployed workers across increasingly wide swaths of the United States, forcing businesses to rethink how they find workers, which could keep pressure on the Federal Reserve to raise interest rates despite a global economic slowdown.
Samsung Electronics surprised the market on Tuesday with an estimated 29 percent drop in quarterly profit, blaming weak chip demand in a rare commentary issued to “ease confusion” among investors already fretting about a global tech slowdown.
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