Business
China's Bank of Communications Q1 profit rises 1.44%
BEIJING/SHANGHAI (Reuters) - China's Bank of Communications Co Ltd (BoCom), reported a 1.44% rise in first-quarter net profit amid a slowing economy. BoCom, the first among five of the nation's biggest state banks reporting first-quarter results, ...
China's CITIC Securities posts 8.5% fall in first-quarter profit
BEIJING/SHANGHAI(Reuters) - CITIC Securities Co, China's biggest brokerage, on Friday reported an 8.5% fall in first-quarter net profit. Net profit fell to 4.96 billion yuan ($684.47 million) in the three months to March 31, compared with 5.42 ...
Electrolux Q1 loss nearly triples on weak demand but beats expectations
By Marie Mannes STOCKHOLM (Reuters) - Electrolux's operating loss nearly tripled in the first quarter on weak demand and poor performance in North America, but the loss was smaller than expected as raw material costs eased, sending shares up 6%. ...
Euro zone consumers lower inflation expectations again, ECB survey shows
FRANKFURT (Reuters) - Euro zone consumers lowered their expectation for inflation over the next 12 months in March but continued to see price growth above the European Central Bank's 2% target further out, the ECB's Consumer Expectations Survey ...
Huawei's smart car tech offers automakers route to China sales
BEIJING (Reuters) - It's taken Huawei just four years to become a force in smart car technology, navigating the devastation of trade sanctions on its smartphones business while simultaneously developing a driver assistance system that is the ...
Take Five: Fed straight ahead
(Reuters) - A U.S. Federal Reserve meeting and Apple and Amazon reporting results will keep investors' focus in the days ahead on the global rates outlook and on tech earnings, while growth and inflation data from Europe and China are also coming ...
Thoma Bravo to buy UK's Darktrace for about $5.32 billion
(Reuters) - Private equity firm Thoma Bravo has agreed to buy British cybersecurity firm Darktrace for about $5.32 billion in cash, the companies said on Friday. The agreed price of $7.75, or around 620 pence per share represents a 44% premium to ...
Russia's Sberbank reports profit rise to $4.3 billion in Q1
MOSCOW (Reuters) - Russia's dominant lender Sberbank on Friday reported a first-quarter net profit of 397.4 billion roubles ($4.32 billion), up 11.3% from a year earlier. Sberbank made record profits of 1.5 trillion roubles in 2023, a more than ...
Pakistan's economic conditions show improvement, says PM
By Asif Shahzad ISLAMABAD (Reuters) -Pakistan's economic indicators are showing positive signs, with an agenda of painful reforms and privatization on track, Prime Minister Shehbaz Sharif said on Friday, ahead of an IMF board meeting to decide on a ...
Italy sets conditions for Vitol's takeover of Saras
ROME (Reuters) - Italy's government has given a conditional green light to Vitol's plan to take over oil refiner Saras, the global commodity trader said in a statement on Friday. Saras's controlling shareholder - the Moratti family - said in ...