SoftBank Vision Fund posts $26 bln loss; Son pledges defence
Japan’s SoftBank Group Corp (9984.T) reported a record $26.2 billion loss at its Vision Fund investment arm on Thursday, as rising interest rates and political instability whiplashed high-growth tech stocks.
Siemens to leave Russia due to Ukraine war, take hefty charge
Siemens (SIEGn.DE) will quit the Russian market due to the war in Ukraine, it said on Thursday, taking a 600 million euro ($630 million) hit to its business during the second quarter, with more costs to come.
Analysis: Markets must face up to tightening financial conditions
Already sitting on double-digit losses this year, stock market investors must brace for more, as the realisation sinks in that the U.S. Federal Reserve intends to tighten financial conditions to get on top of red-hot inflation.
EXCLUSIVE Biden sidelined global energy partners with record emergency oil release
The United States announced a record-sized release of emergency crude oil reserves in March without consulting partners in the International Energy Agency, leaving them scrambling to match with releases of their own, according to two sources familiar with the matter.
Dollar rides to two-decade highs as rates rise; euro struggles
The dollar climbed to its highest levels in two decades on Monday as a combination of rising U.S. Treasury yields and a tightening lockdown in China boosted the safe haven appeal of the greenback.
EXCLUSIVE Hyundai plans U.S. EV plant, in talks with Georgia – sources
Hyundai Motor Co (005380.KS) plans to build a new electric-vehicle manufacturing plant in the United States and has held discussions with officials in Georgia, near existing plants for the Hyundai and Kia (000270.KS) brands, people with knowledge of its plans told Reuters.
SocGen boosts first-quarter income but costs of Ukraine war rise
French lender Societe Generale (SOGN.PA) beat first-quarter earnings expectations on Thursday but booked higher provisions for loans turning bad as the economic impact of the war in Ukraine hits its customers.
Didi, Lenovo founders go private on China social media, join retreat from spotlight
The president of Chinese ride-hailing giant Didi Chuxing and her father, the founder of Lenovo (0992.HK), have ended their public presence on China’s main social media site, the latest Chinese tech leaders to retreat from the spotlight.
EU antitrust chief calls for global approach towards tech giants
Europe’s antitrust chief Margrethe Vestager, the architect of landmark rules to curb the power of U.S. tech giants, called on Thursday for a global approach towards Big Tech to prevent companies taking advantage of enforcement gaps.
Analysis: Battered bulls hope Fed pain in rearview mirror after Powell maps out hikes
Federal Reserve Chair Jerome Powell gave investors a glimmer of hope that the central bank is unlikely to become more hawkish in coming months, though few see reason for long-term optimism in the face of soaring inflation and fears of slowing growth.
