Today: May 05, 2024
Today: May 05, 2024

Economy

Australia's Westpac net profit falls 16%, announces additional $661 million buyback

(Reuters) -Australia's Westpac Banking Corp reported a 16% drop in its first-half net profit on Monday as intense lending competition and higher costs squeezed its margins.

Morning Bid: Green light from financial conditions, FX calm

By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets.

IMF says its mission will visit Pakistan this month to discuss new loan

By Ariba Shahid KARACHI (Reuters) - An International Monetary Fund mission is expected to visit Pakistan this month to discuss a new programme, the lender said on Sunday ahead of Islamabad beginning

Gulf bourses end higher as Fed cut hopes rise

By Md Manzer Hussain (Reuters) - Stock markets in the Gulf ended higher on Sunday, led by the Qatar index, after slowing U.S. jobs growth in April raised hopes of early interest rate cuts by the U.S.

Slowing global economy to mean smaller revenue bump in Australian budget

SYDNEY (Reuters) - Global economic weakness and a slowing domestic economy were among the reasons Australia will report a smaller revenue increase in its federal budget for the year ended June 30

UAW workers ratify US labor deal with Daimler Truck

By David Shepardson (Reuters) -Members of the United Auto Workers on Saturday ratified a new labor contract with Daimler Truck that includes at least a 25% general wage increase over the four-year

Saudi Arabia's non-oil business activity growth steady in April-PMI

DUBAI (Reuters) - Saudi Arabia's non-oil business activity grew at a steady rate in April despite a slowdown in new order growth, a survey showed on Sunday, with domestic demand driving output.

US SEC charges auditor BF Borgers, whose clients include Trump Media, with fraud

WASHINGTON (Reuters) -Auditor BF Borgers and its owner Benjamin Borgers, whose clients include Trump Media , were charged by the U.S.

Berkshire exec calls wildfire claims against utility 'unfounded'

NEW YORK (Reuters) - Berkshire Hathaway, the conglomerate led by Warren Buffett, will fight all lawsuits brought against its utility business due to wildfires as the cases are "unfounded," a top

Buffett talks succession and Berkshire's future at annual meeting

(Reuters) -Warren Buffett took the stage at Berkshire Hathaway's annual meeting on Saturday, paying tribute to his longtime business partner Charlie Munger, outlining the expanded roles of the

Warren Buffett says taxes may rise to offset widening US deficits

NEW YORK (Reuters) -Warren Buffett said he expects the U.S. government to increase taxes to tackle widening fiscal deficits rather than reduce spending.

Warren Buffett says Berkshire sold entire Paramount stake at a loss

NEW YORK (Reuters) -Warren Buffett said on Saturday that Berkshire Hathaway sold its entire holding in media and entertainment company Paramount Global at a loss and he took sole responsibility for

Berkshire shareholders reject climate, diversity, China proposals

By Jonathan Stempel OMAHA, Nebraska (Reuters) - Berkshire Hathaway Inc shareholders on Saturday overwhelmingly rejected six proposals addressing environmental and social policy issues at Warren

Berkshire's profit plunges 64% on portfolio holdings as Buffett it sells Apple

Berkshire Hathaway says its first quarter profit plummeted on the paper value of its investments

SocGen's weak prospects in French retail hits shares

By Mathieu Rosemain PARIS (Reuters) -Societe Generale shares fell more than 5% on Friday after the bank's CFO flagged that net interest income in 2024 from the group's French retail business would be

Investing guru Warren Buffett draws thousands, but Charlie Munger's zingers will be missed

Tens of thousands of people are expected to flock to Omaha, Nebraska, to soak up wisdom from investing wizard Warren Buffett

Mexico peso to navigate between firm economy and political doubts: Reuters poll

By Gabriel Burin BUENOS AIRES (Reuters) - Mexico's peso is set to navigate between a relatively firm economy on one side and some political doubts on the other, with a small depreciation expected in

Hershey tops first-quarter estimates on higher pricing

(Reuters) - Hershey exceeded Wall Street expectations for first-quarter sales and profit on Friday, benefiting from higher prices and steady consumer demand for its chocolates and candy.

Major central banks linger in uneasy calm in April

By Karin Strohecker and Sumanta Sen LONDON (Reuters) - Interest rates at major central banks remained static in April as the prospect of higher-for-longer U.S.

Morning bid: Jobs test Fed relief, Apple buyback bump

A look at the day ahead in U.S. and global markets from Mike Dolan The strength of the U.S. labor market will give Wall Street's interest rate relief a reality check on Friday, but Apple's monster

Norway keeps rates on hold, may extend tight policy

OSLO (Reuters) -Norway's central bank kept interest rates on hold at 4.50% on Friday, as unanimously expected by analysts, and said a tight monetary policy stance may be needed for somewhat longer

Toronto home sales fall for third month in April; prices rise

OTTAWA (Reuters) - Greater Toronto area home sales fell in April for a third straight month and prices crept up, as over two-decade high interest rates kept the lid on housing market recovery in

Hong Kong March retail sales down 7%, snapping 15 months of growth

HONG KONG (Reuters) - Hong Kong's March retail sales fell 7% from a year earlier, partly due to a high base of comparison for visitor spending and the Easter holidays, government data showed on Friday

Turkey inflation up near 70%, highest since 2022

ISTANBUL (Reuters) -Turkish annual consumer price inflation climbed to 69.8% in April, official data showed on Friday, a bit below expectations but the highest since late-2022 on strong rises in

Germany's Henkel raises 2024 outlook on strong Q1

BERLIN (Reuters) -German consumer goods company Henkel slightly raised its guidance for 2024 on Friday, saying strong performance in the first quarter had boosted its sales and earnings outlook.

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