By Joyce Lee and Heekyong Yang SEOUL (Reuters) – Samsung Electronics Co Ltd flagged on Friday its quarterly profit tumbled by two-thirds to an eight-year low as a weakening global economy hammered memory chip prices and curbed demand for electronic devices. The dismal profit estimate by the world’s largest memory chip, smartphone and TV maker …
Samsung’s quarterly profit plunges to 8-year low on demand slump Read More »
By Clare Jim HONG KONG (Reuters) -Shares of Chinese property developers climbed on Friday, lifted by more state support for the highly indebted sector struggling with weak sales and investments as China reopens its economy. The central bank said on Thursday that for cities where the selling prices of new homes fall month-on-month and year-on-year …
China property shares firm on more policy support, easing curbs Read More »
(Reuters) – China will take steps to stablise and expand consumption in its automotive industry, a commerce ministry spokesperson said on Friday. Despite COVID-related pressures on consumption in the industry, it is expected to continue to grow into 2023, the spokesperson added. (Reporting by Joe Cash; Editing by Clarence Fernandez)
By Rocky Swift TOKYO (Reuters) – The Japanese operator of McDonald’s restaurants announced its third price hike in less than a year on Friday in the latest sign of compounding inflationary pressures on the nation’s consumers. McDonald’s Holding Company Japan Ltd said it would raise prices on about 80% of its menu from Jan. 16, …
McDonald’s Japan hikes prices for 3rd time in 10 months on surging costs Read More »
By Joseph White LAS VEGAS (Reuters) – Chinese electric vehicle brand Zeekr aims to double sales in 2023 to about 140,000 vehicles and plans to expand sales in Europe, Chief Executive Andy An told Reuters on Thursday. Zeekr, a brand created by Chinese automaker Geely, sold 72,000 vehicles in 2022, mostly in China. Its 001 …
Geely’s EV brand Zeekr aims to double sales in 2023, expand in Europe Read More »
By Karen Brettell NEW YORK (Reuters) – The dollar index hit a four-week high on Thursday after data pointed to a strong jobs market, supporting the prospect that the Federal Reserve could keep up the pace of aggressive rate hikes. Private employment increased by 235,000 jobs last month, the ADP National Employment report showed on …
Dollar hits four-week high on strong employment data Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose around 1% on Thursday after posting the biggest two-day loss for the start of a year in three decades with U.S. data showing lower fuel inventories providing support and economic concerns capping gains. Big declines in the previous two days were driven by worries about a …
Oil rises after U.S. fuel stocks draw down; economic concerns loom Read More »
By Isla Binnie NEW YORK (Reuters) – Global sales of corporate bonds with environmental, social and governance (ESG) targets will rebound this year and top $460 billion, Barclays said, after the asset class had its first setback in 2022 as higher interest rates weighed on credit markets. ESG bond volumes swelled over the past few …
Green bonds are set to drive corporate ESG debt out of slump in 2023 -Barclays Read More »
By Sarah Wu and Yimou Lee TAIPEI (Reuters) -Taiwan’s Foxconn, the world’s largest contract electronics maker, said on Thursday output at its iPhone plant in China had “basically returned to normal” and December revenue, down 12.3% year-on-year, marked the start of a recovery. Production of Apple iPhones faced disruption ahead of Christmas and January’s Lunar …
Apple supplier Foxconn says output recovering despite revenue fall Read More »
By Jeffrey Dastin and Uday Sampath Kumar (Reuters) -Amazon.com Inc’s layoffs will now include more than 18,000 roles as part of a workforce reduction it previously disclosed, Chief Executive Andy Jassy said in a public staff note on Wednesday. The layoff decisions, which Amazon will communicate starting Jan. 18, will largely impact the company’s e-commerce …
Amazon to cut 18,000 jobs as layoffs expand in tech sector Read More »
