Business News

Boeing hives off 210 orders after Jet halts operations

(Reuters) - Boeing removed 210 aircraft from its order backlog to reflect concerns about customer credit quality and took an impairment at its Boeing Capital financing unit on Wednesday. The U.S. planemaker did not disclose the name of the airline involved but the move came days after India’s Jet Airways halted operations after lenders rejected a plea for emergency funds. The order adjustment pushed Boeing net ord...

24 Apr 3:04 PM 0 Read More...

Wall Street dips after mixed earnings

(Reuters) - U.S. stocks pulled back slightly on Wednesday after a record-setting rally in the prior session, as investors digested a batch of mixed earnings reports. The S&P 500 is just 0.3% away from an intra-day record high of 2,940.91 hit on Sept. 21 after surging about 17% this year, helped by a dovish Federal Reserve, hopes of a U.S.-China trade resolution and a largely upbeat earnings season. “Thus far ...

24 Apr 3:04 PM 0 Read More...

Credit Suisse lifts profit with surprise equity trading gains

ZURICH (Reuters) - Credit Suisse set a positive tone for this quarter’s European bank results on Wednesday, lifting its net profit as gains in equities and deeper ties between trading and private banking helped offset lower revenue. Switzerland’s second-biggest bank bucked market expectations of a profit dip and said it gained market share in equities trading during a quarter in which major U.S. rivals such as Go...

24 Apr 9:59 AM 0 Read More...

Credit Suisse will receive Saudi banking license, finance minister says

RIYADH (Reuters) - A banking license to operate in Saudi Arabia will be issued to Credit Suisse, Mohammed al-Jadaan, the kingdom’s finance minister said on Wednesday. The Swiss bank has been seeking to obtain a full banking license in the Middle East’s largest economy and in July last year the bank’s Chief Executive, Tidjane Thiam, said he traveled personally to the country to file the application. However, in ...

24 Apr 9:59 AM 0 Read More...

World shares fall as China stimulus worries offset upbeat Credit Suisse earnings

LONDON (Reuters) - World shares took a step back on Wednesday as signals that China has put broader stimulus on hold offset positive results from Credit Suisse, which kicked off the earnings season for European investment banks. European shares followed Asia lower, pulling back from eight-month highs, with the pan-regional STOXX 600 index slipping 0.4 percent. Germany’s DAX was flat after a business survey showed G...

24 Apr 9:59 AM 0 Read More...

Asian shares fall despite strong Wall Street; dollar near 22-month high

SHANGHAI (Reuters) - Equity markets in Asia faltered on Wednesday, amid losses in South Korea and worries that China has put any further stimulus on hold as the economy shows signs of regaining its footing. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.5 percent lower, erasing early gains in the wake of record closing highs on Wall Street overnight. The biggest regional loser was South Korea’s...

24 Apr 4:55 AM 0 Read More...

Samsung Electronics to invest $9.6 billion annually in logic chips until 2030

SEOUL (Reuters) - Samsung Electronics said on Wednesday that it would invest 11 trillion won ($9.57 billion) annually through 2030 in logic chip businesses, including its foundry business. The investment until 2030, worth 133 trillion won in total, comes as the world’s top memory chip maker strengthens non-memory semiconductor businesses such as contract chip manufacturing, known as foundry, and mobile processors. ...

24 Apr 4:55 AM 0 Read More...

Adding to Ghosn woes, Nissan set to further slash profit outlook: report

TOKYO (Reuters) - Nissan Motor Co Ltd could be heading for a bigger-than-expected earnings drop due to weakness in its top markets, just as it adjusts to a future without Carlos Ghosn and grapples with the outlook of its alliance with France’s Renault SA. The Japanese automaker, which already flagged its lowest profit in six years, is preparing to announce on Wednesday another cut to its earnings outlook for the fi...

24 Apr 4:55 AM 0 Read More...

Didi-SoftBank taxi-hailing JV expands to 13 cities across Japan

TOKYO (Reuters) - Didi Mobility Japan, a joint venture (JV) by China’s Didi Chuxing and SoftBank Corp, said it would expand its taxi-hailing service to 13 cities across Japan. The app was first rolled out in September in Osaka, a popular destination for Chinese tourists, where it has tied up with 40 taxi firms in an increasingly crowded market for such apps that includes rivals backed by Sony Corp and Toyota Motor...

24 Apr 4:55 AM 0 Read More...

Tesla upgrades Model S, X cars, brings backs cheaper variants

(Reuters) - Tesla Inc, struggling with delay in delivery of its higher-priced Model S and X luxury cars, said on Tuesday it will bring back lower-priced options for those cars and roll out upgrades to improve their driving range and re-charging speed. The company, striving to improve margins and post a profit later this year, has laid off workers including about half of the team hired to deliver cars in the United St...

24 Apr 4:55 AM 0 Read More...