BEIJING (Reuters) -Chinese tech giant Huawei reported a drop in net profit despite a jump in revenue on Thursday for the first nine months of the year, a statement to the Shanghai Clearing House showed. The firm recorded a 13.7% drop in nine-month net profit to 62.9 billion yuan ($8.83 billion) for the January-September period, …
Huawei Technologies reports 13.7% drop in 9-mth profit Read More »
TOKYO (Reuters) – Japan’s Hokkaido Electric Power and Chugoku Electric Power said on Thursday they had booked extraordinary profits for the April-September period from selling previously acquired nuclear fuel. Neither utility has been able to restart any nuclear power plants since the 2011 Fukushima nuclear disaster which prompted stricter safety standards in Japan. Hokkaido Electric …
Japanese utilities book special gains by selling nuclear fuels Read More »
BEIJING (Reuters) – China’s SAIC Motor, hit with the highest additional electric vehicle tariffs imposed by the European Union at 35.3%, has refuted reports about separate negotiations with the EU on the matter, the local government-backed Shanghai Observer reported on Thursday. The reports “seriously deviate from the facts” and are purely rumours, the report said, …
China’s SAIC denies reports of negotiations with EU on EVs, govt-backed media says Read More »
TOKYO (Reuters) – Japan’s Electric Power Development (J-Power) said on Thursday it has decided to sell its 50% stake in a U.S. gas-fired power company as part of a reshuffle of its assets portfolio to improve capital efficiency. The Japanese utility will sell the stake, held by U.S. subsidiaries, in Tenaska Frontier Partners which operates …
Japan’s J-Power to sell stake in US gas power company Read More »
SHANGHAI (Reuters) -China’s central bank has injected 500 billion yuan ($70.24 billion) into its banking system during October through a new reverse repurchase tool announced earlier this week, the bank said on Thursday. The People’s Bank of China (PBOC) said the repo operations aimed to “keep banking system liquidity reasonably ample”. The tenor of the …
China’s central bank injects cash via new outright reverse repos in October Read More »
By Sabrina Valle, Ron Bousso and Marianna Parraga HOUSTON (Reuters) – Five years ago, Chevron CEO Michael Wirth won Wall Street acclaim as the No. 2 U.S. oil company briefly achieved a market value larger than Exxon Mobil’s after he refused to get into a bidding war with Occidental Petroleum over a rival. He was ahead …
Chevron CEO under pressure to halt share slide as Hess deal stalls Read More »
By Leika Kihara and Makiko Yamazaki TOKYO (Reuters) – The Bank of Japan maintained ultra-low interest rates on Thursday but said risks around the U.S. economy were somewhat subsiding, signalling that conditions are falling into place to raise interest rates again. The central bank also projected inflation would move around its 2% target in the …
BOJ keeps policy steady, leaves door open for near-term rate hike Read More »
By Katya Golubkova and Yuka Obayashi TOKYO (Reuters) -Japanese trading house Sumitomo Corp said on Thursday it was slowly resuming production at the Ambatovy nickel and cobalt project in Madagascar after last month’s pipeline issue and is reviewing future output volumes. Sumitomo has been struggling to stabilise production and improve profitability at the Ambatovy project, …
Sumitomo resumes production at Madagascar’s nickel project Read More »
HONG KONG (Reuters) -Hong Kong’s economy grew 1.8% in the third quarter year-on-year, official advance estimates showed on Thursday, expanding for a seventh straight quarter. The result was slower than the mean forecast of 3.1% year-on-year growth by 11 economists in a Reuters poll, revised 3.2% growth in the second quarter and 2.8% in the …
Hong Kong Q3 GDP expands 1.8% y/y, slower than forecast Read More »
By Prerna Bedi (Reuters) -British medical equipment maker Smith + Nephew cut its annual underlying revenue growth forecast on Thursday due to weaker than expected demand in China, sending its shares more than 12% lower. The company expects annual underlying revenue growth of 4.5%, down from an earlier forecast of 5%-6% and below analysts’ estimate …
Smith + Nephew shares drop 10% as weak China prompts revenue downgrade Read More »
