Singapore banks top estimates but flag caution in weak markets
Singapore lenders DBS Group (DBSM.SI) and OCBC (OCBC.SI) gave cautious outlooks on Friday after reporting 10% declines in quarterly profits amid weaker economic growth, though their performances still beat analysts’ estimates.
NatWest profit jumps as cost-of-living crisis looms
LONDON, April 29 (Reuters) – British lender NatWest (NWG.L) posted a 41% jump in first-quarter profit on Friday, as rising rates boosted income even as they threaten to further squeeze household incomes. While banks have benefitted from the end of COVID-19 lockdowns and higher benchmark rates, NatWest CEO Alison Rose said she was “very aware of the […]
Apple sees bigger supply problems after strong start to year
Apple Inc (AAPL.O) on Thursday forecast bigger problems as COVID-19 lockdowns snarl production and demand in China, the war in Ukraine dents sales and growth slows in services, which the iPhone maker sees as its engine for expansion.
U.S. solar industry warns of slowdown due to supply chain disruptions, tariff uncertainty
The U.S. solar industry is warning of a big slowdown in project installations this year as global supply chain disruptions and the threat of new U.S. tariffs on panel imports from Southeast Asia hit home.
Analysis: Globalised yuan complicates Beijing’s bid to stem capital flight
This month’s dive in China’s currency has revived memories of past routs but market participants say increased foreign holdings of yuan assets mean authorities are much less likely to curb the selling than they were in previous years.
Proposed China investment curb by U.S. sparks debate among chipmakers
Chipmakers are divided over how aggressively to oppose a legislative proposal that would give the U.S. government sweeping new powers to block billions in U.S. investment into China, according to documents seen by Reuters.
PayPal shares rise despite cut in annual profit view
PayPal Holdings Inc (PYPL.O) shares traded higher Wednesday even after the company lowered its full-year profit outlook, signaling that payments volumes could take a hit from surging inflation and the conflict in Ukraine.
Exxon declares force majeure on Russian Sakhalin-1 operations
Exxon Mobil Corp (XOM.N) said on Wednesday its Russian unit Exxon Neftegas Ltd has declared force majeure for its Sakhalin-1 operations due to sanctions on Russia that have made it increasingly difficult to ship crude to customers.
Temasek-backed oil rig builders agree $6.3 bln merger amid sector downturn
Singapore’s Sembcorp Marine (Sembmarine) (SCMN.SI) has agreed to a S$8.7 billion ($6.29 billion) merger with Keppel Corp’s (KPLM.SI) larger offshore and marine unit, a year after the Temasek-backed firms began deal talks amid an industry downturn.
With inflation, gold notes and cards find their way into America’s wallet
With inflation running at its highest levels in four decades, Utah business owner Steve Allred is concerned about the declining purchasing power of the U.S. dollar.
