SHANGHAI (Reuters) -China’s central bank unexpectedly conducted a medium-term lending facility (MLF) operation on Thursday and cut the interest rate, following a string of other rate reductions[...]
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July 25, 2024
Japan’s Honda to close China plant, halt production at another factory
(Reuters) -Japan’s Honda Motor will close a factory in China and halt vehicle production at another plant, the automaker said on Thursday, as it seeks to start producing more electric vehicles a[...]
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Logistics giant Lineage raises $4.44 billion in biggest IPO of 2024
By Echo Wang NEW YORK (Reuters) -Lineage, the world’s largest operator of cold-storage warehouses, raised $4.44 billion in its U.S. initial public offering, setting it up for the biggest stock m[...]
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Nvidia supplier SK Hynix posts 6-year high profit on AI boom
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -South Korea’s SK Hynix posted its highest quarterly profit since 2018 on Thursday as the Nvidia supplier said strong AI chip demand will only get[...]
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Morning Bid: A megacap tsunami coming your way
(Reuters) – A look at the day ahead in Asian markets by Alden Bentley in New York Brace for fallout from a megacap-led wipe out. A rethink of the earnings picture for hyped up AI and Magnificent[...]
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Japanese officials quiet on forex as yen sharply rebounds
By Makiko Yamazaki RIO DE JANEIRO (Reuters) – Japanese Finance Minister Shunichi Suzuki and top currency diplomat Masato Kanda both refrained from commenting on foreign exchange on Wednesday, as[...]
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Tesla’s bleak margins sink shares as Musk hypes everything but cars
By Deborah Mary Sophia and Noel Randewich (Reuters) -Tesla shares tumbled 12% on Wednesday, evaporating almost $100 billion in stock market value after CEO Elon Musk’s talk of humanoid robots an[...]
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Ford profit disappoints, stock falls 11% as quality issues dog automaker
By Nora Eckert, Nathan Gomes (Reuters) -Ford Motor reported a dip in second-quarter adjusted profit on Wednesday as the automaker continues to battle costly quality issues and an EV business that is w[...]
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Murdoch engaged in legal battle with children over succession, NYT reports
(Reuters) – Media mogul Rupert Murdoch is engaged in a legal battle against three of his children to ensure that his eldest son and chosen successor, Lachlan Murdoch, will remain in charge of hi[...]
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