By Nia Williams (Reuters) -Oil prices fell by more than 2% on Tuesday as demand worries stemming from China’s prolonged COVID-19 lockdowns outweighed the prospect of a European embargo on Russian crude. Beijing is mass-testing residents to avert a lockdown similar to Shanghai’s over the past month. The capital’s restaurants were closed for dining in …
Oil slides as China lockdowns outweigh proposed EU Russia oil ban Read More »
By Paresh Dave OAKLAND, Calif. (Reuters) – Alphabet Inc’s Google said on Monday it had recently fired a senior engineering manager after colleagues, whose landmark research on artificial intelligence software he had been trying to discredit, accused him of harassing behavior. The dispute, which stems from efforts to automate chip design, threatens to undermine the …
Google faces internal battle over research on AI to speed chip design Read More »
By Jody Godoy (Reuters) – The U.S. Securities Exchange Commission is investigating Didi Global Inc over its $4.4 billion initial public offering in the United States in June last year, the Chinese ride-hailing giant said. Didi was cooperating with the U.S. securities regulator’s investigation related to the offering, “subject to strict compliance” with Chinese law, …
U.S. securities regulator probes Didi Global’s $4.4 billion IPO Read More »
By Ben Blanchard and Sarah Wu TAIPEI (Reuters) – Taiwanese tech suppliers are suffering from supply constraints, even for such things as packing materials, as some struggle to take advantage of soaring demand. Taiwan is a key supplier to the global electronics ecosystem, with parts used in everything from refrigerators and smartphones to cars and …
Supply chains snarl Taiwan tech firms as some strive to meet demand Read More »
By Jonathan Stempel OMAHA, Neb. (Reuters) – Dairy Queen is looking to China and perhaps India to fuel growth, while counting on a revamped burger menu to bring in more American and Canadian customers. Troy Bader, chief executive of International Dairy Queen Inc since 2018, expects international markets to be the fastest-growing for the 82-year-old …
CEO of Berkshire’s Dairy Queen eyes China and India for growth, upgrades menu Read More »
By Anshuman Daga, Selena Li and Sinead Cruise HONG KONG (Reuters) -HSBC investors gave a break-up proposal by its biggest shareholder a lukewarm response on Tuesday, voicing concerns a split would prove complex with no guarantee of raising returns. Chinese insurance giant Ping An has called on HSBC to explore options including spinning off its …
HSBC investors give Ping An break-up plan cool response Read More »
By Donny Kwok and Twinnie Siu HONG KONG (Reuters) – Hong Kong’s economy contracted in the first quarter of this year as the city imposed its most stringent restrictions to curb an outbreak of COVID-19 that has battered business, led to an exodus of people and overshadowed the outlook for growth. The financial centre’s economy …
Hong Kong Q1 GDP shrinks more than expected on COVID curbs Read More »
(Reuters) – Multinationals that announced their exit from Russia, or suspension of activities there, after Moscow’s invasion of Ukraine on Feb. 24 have started to report associated losses. These are firms, listed by sector, that have provided cost estimates related to a temporary or permanent halt in Russia: APPAREL ADIDAS The German sportswear company warned …
Factbox: Companies count the cost of ditching Russia Read More »
SEOUL (Reuters) -A majority of the Bank of Korea’s board members expressed concern about import cost-led inflation pushing up wages and goods prices, the central bank’s April meeting minutes showed, reinforcing market expectations of another rate hike soon. On April 14, the bank’s monetary policy board voted to raise interest rates by 0.25% to 1.50% …
BOK rate rise hinged on concerns over broad impact of inflation – minutes Read More »
(Reuters) – German chemicals maker Covestro expects COVID-19 lockdowns in China to significantly affect business in the second quarter, its finance chief said on Tuesday, while its 2022 energy costs could also exceed earlier estimates. Chief Financial Officer Thomas Toepfer told Reuters the lockdown in Shanghai, which led the company to cut its full-year earnings …
Covestro sees China lockdown blow in Q2, higher energy costs Read More »
