(Reuters) – Major U.S. banks kept their staffing levels largely stable in the first quarter, bracing for potential disruption later in the year that some analysts say may trigger job cuts. Turbulence stemming from President Donald Trump’s tariffs has fueled fears that economic growth may slow down and spook corporations into adopting a cautious approach …
US banks maintain steady headcount amid tariff turbulence Read More »
By Casey Hall and Sophie Yu GUANGZHOU, China (Reuters) – The rapid rise of ultra-fast fashion retailer Shein has been so key to the fortunes of a group of urban villages on the outskirts of China’s southern metropolis of Guangzhou that they have been colloquially dubbed “Shein villages”. Shein was able to become a behemoth …
Shein’s tariff-busting shift hits home in Chinese factory hub Read More »
By Aaditya GovindRao and Adwitiya Srivastava (Reuters) -Australia’s top fuel retailer Ampol reported a 49% drop in first-quarter refining margins for its Lytton refinery in Queensland on Wednesday, citing lost production due to Cyclone Alfred and weak refining margins in Singapore — a bellwether for Asia. Shares of the company fell as much as 2.1% …
Asian slump, Cyclone Alfred, slash Ampol’s refinery margins by half Read More »
SINGAPORE (Reuters) – Australia’s top gas producer Woodside Energy said on Wednesday it had hired Sarah Bairstow, the chief executive of Mexico Pacific, for its Louisiana liquefied natural gas plant in the United States. Bairstow will join Woodside in early May as senior vice president at Louisiana LNG, said a Woodside spokesperson, confirming an earlier …
Australia’s Woodside hires Mexico Pacific CEO Bairstow for Louisiana LNG project Read More »
(Reuters) – Shares of Australia’s embattled casino operator Star Entertainment fluctuated sharply on Wednesday as trading resumed after the firm announced a larger-than-expected half-year loss. Star Entertainment’s shares opened 9% lower but recovered to jump more than 13% in their first day of trading since late February. Trading had been halted pending its half-year financial …
Australian casino operator Star swings sharply as trading resumes after weak results Read More »
By John Biju (Reuters) – Australian buy-now, pay-later firm Zip Co posted record quarterly cash earnings on Wednesday, helped by strong performance from its U.S. operations and raised its fiscal 2025 earnings forecast, sending its shares more than 18% higher. The company’s earnings before taxes, depreciation and amortization (EBTDA) for the three months ended March …
Australia’s Zip soars on record quarterly cash earnings, fiscal 2025 forecast hike Read More »
RIO DE JANEIRO/SAO PAULO (Reuters) -Brazilian miner Vale produced 67.7 million metric tons of iron ore in the first quarter of 2025, down 4.5% from a year earlier, the company said on Tuesday in its sales and output report. One of the world’s largest iron ore producers, Vale said heavy rainfall impacted production in its …
Vale’s iron ore output falls in first quarter hurt by Brazil rains Read More »
(Reuters) – U.S. Treasury Secretary Scott Bessent in an interview with Yahoo Finance on Tuesday dismissed concerns over China weaponizing its Treasuries despite bond market volatility and added there was no risk of China potentially using its robust Treasury pile to inflict economic pain on the United States. “If Treasuries hit a certain level or …
(Reuters) – ChatGPT maker OpenAI named members to its newly formed nonprofit commission on Tuesday, which will guide the company’s philanthropic efforts. Microsoft-backed OpenAI in December outlined a plan to revamp its corporate structure, saying it would create a public benefit corporation to manage its growing business and ease the restrictions imposed by its existing …
OpenAI names members to its nonprofit commission Read More »
By Nicholas P. Brown (Reuters) – Suppliers, vendors and other unsecured creditors of Forever 21 are “getting smoked” under a restructuring plan that envisions paltry recoveries on debts owed by the bankrupt fast fashion retailer, a lawyer for the company’s unsecured creditors said on Tuesday. At a virtual hearing before a Delaware-based U.S. bankruptcy judge, …
Forever 21 creditors face large losses under bankruptcy plan Read More »
