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Raiffeisen Slumps After Confirming OFAC Request For Information On Russia Business
Shares in Raiffeisen Bank International (VIE:RBIV) slumped in early trade in Vienna on Monday, hurt by a report that it may be in trouble with U.S. authorities over its operations in Russia. The Austrian bank confirmed on Friday that the U.S. Office of Foreign Assets Control, an arm of the U.S. Treasury responsible for the […]
Maersk Nears Complete Russia Exit After Selling Logistics Sites
Shipping and logistics group A.P. Moller-Maersk has agreed to sell its two logistics sites in Russia to IG Finance Development Limited, it said on Monday, nearly marking the end of its business activities in the country. The group said the sale of its inland depot facility in Novorossiisk, with a capacity of 1,500 containers (TEU), […]
Asian Stocks Muted Amid Fed Fears, China Buoyed By Stimulus Hopes
Most Asian stocks kept to a tight range on Monday as markets awaited more cues on monetary policy from a slew of Federal Reserve events this week, while Chinese stocks rose sharply on the prospect of more stimulus spending by the government. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes rose around 1% each […]
Palantir Posts First Quarterly Profit Following New Contract Wins
Palantir (NYSE:PLTR) reported its first-ever quarterly profit, as well as a top- and bottom-line beat in the final three months of 2022, as a ramp-up in customers bolstered performance. On a GAAP basis, the U.S.-based data analytics company posted net income of $31 million in the quarter up to the end of December, translating to […]
Toshiba Cuts Full-Year Profit Estimate, COO Resigns
Japan’s Toshiba (OTC:TOSYY) Corp on Tuesday reported an 87.5% drop in third-quarter operating profit and cut its full-year earnings estimate for a second time. It also said Chief Operating Officer Goro Yanase had resigned over the inappropriate use of entertainment expenses in 2019 when he was an executive at Toshiba Energy Systems and Solutions Corp. […]
Analysis-In China, Tesla Could Win Electric Vehicle Price Battle – But Lose The War
Slashed prices have given Tesla (NASDAQ:TSLA)’s China sales a pop, but analysts, and even fans, warn the U.S. automaker needs to up its long-term game to avoid choking on the dust of fast-moving rivals in the world’s biggest electric vehicle market. Most immediately, Tesla’s January price cuts drove deliveries of its China-made vehicles up 18% […]
Nissan, Renault To iInvest $600 Million To Make New Models In India
Nissan (OTC:NSANY) Motor Co and Renault SA (OTC:RNLSY) said on Monday they would invest $600 million to make six new models in India. The Japanese and French automakers will work on the projects from their base in Chennai, turning it into an export hub, they said in a statement. The six models, with each automaker […]
Exclusive-SoftBank’s Arm China Lays Off Workers As Outlook Grim -Sources
SoftBank Group Corp’s chip technology firm Arm Ltd’s China joint venture laid off 90-95 employees last week to cope with a challenging business outlook this year, according to three sources familiar with the situation. The layoffs come as SoftBank tries to set up a public listing for Arm this year. The China market has been […]