MILAN, (Reuters) Italy’s biggest bank UniCredit said on Tuesday it would buy back its stock this year to improve returns for investors, and shed 9 percent of staff under a new plan to 2023 to cut costs by 1 billion euros ($1.1 billion) in Western Europe. Highlighting the challenge facing retail...
LAUNCESTON Profits at Asian refineries are being buffeted by a combination of factors, chief among them uncertainty over how exactly new shipping fuel standards will play out and the rise of China as a product exporter. Refinery margins in Asia have been knocked to the lowest since the financial crisis in...
Vladimir Soldatkin (Reuters) SOCHI, Russia Russian President Vladimir Putin and his Chinese counterpart Xi Jinping last week oversaw the launch of a landmark pipeline that will transport natural gas from Siberia to northeast China, an economic and political boost to ties between Moscow and Beijing. The start of gas flows via the...
Raymond Zhong (New York Times) SHENZHEN, China Huawei, the Chinese technology powerhouse, is challenging the Federal Communications Commission in court for choking off its sales in the United States, the latest in the besieged company’s widening efforts to hit back at regulators and critics across the globe. The FCC voted last month...
Ana Swanson(New York Times) WASHINGTON The U.S. has spent two years chipping away at the World Trade Organization, criticizing it as unfair, starving it of personnel and disregarding its authority, as President Donald Trump seeks to upend the global trade system. The Trump administration is expected to go one step further and...
Praveen Paramasivam (REUTERS) Lululemon Athletica Inc. forecast holiday quarter profit largely below analysts’ expectations as the athleisure pioneer invests heavily to launch new products to fend off intensifying competition. The company’s shares fell a little over 4 percent in extended trading. They have nearly doubled in value this year as a...
LONDON, (Reuters) The Japanese yen fell to a six-month low and the Australian and New Zealand dollars rallied after an unexpected rebound in Chinese manufacturing activity raised hopes of a brighter outlook for the world economy. The euro was steady ahead of a testimony to the European parliament by the European...
Michael Nienaber and Rene Wagner /(REUTERS) BERLIN The German economy escaped a recession in the third quarter as consumers, state spending and construction drove a 0.1% quarterly expansion, defying expectations of another contraction in Europe's largest economy, preliminary data showed on Thursday. On an annual basis, gross domestic product expanded 0.5% from...
The Democratic presidential candidates yielded to the furor surrounding the impeachment inquiry in Washington in their primary debate Wednesday, for the first time training their fire more steadily on President Donald Trump than on one another and presenting a largely united front on vital issues like climate change and...
Hideyuki Sano(Reuters) TOKYO The dollar held firm December 9 after data showed surprise strength in the U.S. jobs market, but the currency was restrained from moving higher by worries about an escalation in the U.S.-China trade war. The dollar index stood almost flat at 97.704 in early Asian trade, after rising 0.3...