By Rajendra Jadhav, Bernadette Christina and Mei Mei Chu MUMBAI (Reuters) – Asian buyers are ramping up palm oil purchases to replenish inventories after prices corrected to their lowest in a year and as top producer Indonesia has scrapped levies on exports. Buying by leading Asian importers such as India, China and Pakistan could support …
Asian palm oil buyers replenish inventories as prices correct Read More »
By Chavi Mehta (Reuters) -IT hardware and services company IBM Corp beat quarterly revenue expectations on Monday but warned the hit from forex for the year could be about $3.5 billion due to a strong dollar. A hawkish Federal Reserve and heightened geopolitical tensions have driven gains in the dollar against a basket of currencies …
IBM beats quarterly revenue estimates, warns of $3.5 billion forex hit Read More »
By Jonathan Stempel (Reuters) – Apple Inc was sued on Monday in a proposed class action by payment card issuers accusing the iPhone maker of abusing its market power in mobile devices to thwart competition for its Apple Pay mobile wallet. According to a complaint filed in San Francisco federal court, Apple “coerces” consumers who …
Lawsuit accuses Apple of antitrust violations over Apple Pay Read More »
By Laura Sanicola (Reuters) – Oil prices rose more than $5 on Monday, boosted by dollar weakness and expectations that the U.S. Federal Reserve won’t raise interest rates by a full percentage point at its next meeting to combat inflation. Brent crude futures for September settlement gained $5.11, or 5.1%, to settle at $106.27 a …
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks edged higher on Monday as a late-session sell-off in U.S. equities trimmed earlier gains while the dollar slipped as investors tamped down expectations that the Federal Reserve will take a more aggressive approach in hiking interest rates next week. Expectations for a 100 …
Stocks edge up, dollar dips as Fed hike expectations lessened Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The U.S. dollar slipped to a one-week low against a basket of currencies on Monday, from the two-decade high hit last week, as traders pared bets on how aggressive the Federal Reserve would be in raising rates at its meeting later this month. Fed officials signalled Friday …
BERLIN (Reuters) – Volkswagen-owned Porsche expects revenue of 38 billion to 39 billion euros ($38.63 billion to $39.64 billion) in 2022 from 33.1 billion in 2021, the sportscar maker said on Monday, despite registering a 5% drop in deliveries in the first half of the year. Long-term, the brand is targeting 20% or more return …
Porsche expects higher returns, China recovery in 2022 Read More »
JOHANNESBURG (Reuters) – Chinese-led Winning Consortium Simandou (WCS) has put workers on forced leave with the prospect of layoffs if a dispute with Guinea’s government over infrastructure for a massive iron project is not resolved, three sources told Reuters. WCS did not immediately reply to a request for comment. Guinea’s mines minister on July 3 …
Chinese consortium puts workers on forced leave after Guinea halts Simandou Read More »
BANGKOK (Reuters) – The Tourism Authority of Thailand (TAT) on Monday said it expects the tourism industry to generate revenue of up to 2.38 trillion baht ($65.03 billion) next year. In a best-case scenario, revenue of 1.5 trillion baht would come from international visitors and 880 billion baht from domestic tourism, TAT Governor Yuthasak Supasorn …
Thailand expects tourism revenue of up to $65 billion next year Read More »
(Reuters) – Fitch Ratings on Monday downgraded China’s Guangzhou R&F Properties Co Ltd and its unit R&F Properties (HK) to “restricted default” (RD), one notch above “default”, after the property developer extended maturities for its offshore bonds. Last week, R&F received consent from its creditors to extend maturities for $4.9 billion worth of offshore bonds, …
Fitch cuts China’s property developer Guangzhou R&F to ‘restricted default’ Read More »
