By Supantha Mukherjee STOCKHOLM (Reuters) – Nokia has laid off close to 2,000 people or about a fifth of its employee base across Greater China and plans to cut another 350 jobs across Europe as part of efforts to lower costs, according to two sources familiar with the matter. A Nokia spokesperson confirmed the company …
SAO PAULO (Reuters) – Brazilian steelmaker CSN’s deal to sell a stake in CSN Mineracao to Japan’s Itochu implies a 26% premium over the previous closing price for shares in its mining subsidiary, a securities filing showed late on Wednesday. CSN announced the deal to sell up to 11% of CSN Mineracao to Itochu early …
Itochu’s deal to buy stake in Brazil’s CSN Mineracao implies 26% premium Read More »
By Yimou Lee, Ben Blanchard and Faith Hung TAIPEI (Reuters) -TSMC, the world’s largest contract chipmaker, bet on sustaining its strong growth, after reporting on Thursday a forecast-beating 54% jump in quarterly profit driven by soaring demand for chips used in artificial intelligence (AI). Taiwan Semiconductor Manufacturing Co, the dominant producer of advanced chips used …
TSMC bullish on outlook as AI boom blows Q3 profit past forecasts Read More »
(Reuters) – India’s Tata Chemicals reported a near 55% year-on-year fall in its second-quarter profit on Thursday, hurt by lower soda ash prices and higher freight costs. The chemical maker’s consolidated net profit fell to 1.94 billion rupees ($23.1 million) for the quarter ended Sept. 30 from 4.28 billion rupees a year earlier. While revenue …
India’s Tata Chemicals posts Q2 profit drop as soda ash prices slip, freight costs rise Read More »
BEIJING (Reuters) – China hopes Austrian enterprises will have the confidence to invest in China and cooperate with Chinese partners, even as the European Union plans tariffs on Chinese electric vehicles, according to a commerce ministry statement. Automobiles form an important area of economic and trade cooperation between China and Austria, with production and supply …
China welcomes Austrian firms to invest despite EU tariffs plan Read More »
(Reuters) – Singapore’s market regulator on Thursday lifted a ban on UOB Kay Hian Private Ltd after nearly two years, according to a statement by the regulator. Under the ban, imposed in December 2022, the brokerage firm backed by United Overseas Bank was prohibited from undertaking new mandates as an issue manager or full sponsor …
Singapore’s market regulator lifts ban on brokerage UOB Kay Hian Read More »
(Reuters) – Indian IT services firm LTIMindtree missed quarterly revenue estimates on Thursday, hurt by weak tech spending. The company’s consolidated revenue rose 5.9% to 94.33 billion rupees ($1.12 billion) in the three months to Sept. 30. That was marginally lower than analysts’ average estimate of 94.42 billion rupees, as per data compiled by LSEG. …
By Yuka Obayashi TOKYO (Reuters) – Japan’s Chubu Electric Power plans to further invest in overseas decarbonisation assets, including renewable energy, small modular reactors (SMRs), and carbon capture storage (CCS), to fuel future growth, a company executive said. Chubu, a major regional electric utility, outlined a long-term strategy in 2021, including a plan to spend …
Japan’s Chubu Electric eyes increased investment in overseas renewables, SMRs Read More »
JAKARTA (Reuters) – Indonesia Battery Corporation (IBC) and a unit of China’s battery giant Contemporary Amperex Technology Co (CATL) have formed a joint venture (JV) firm to build a battery cell manufacturing plant, Indonesian state media Antara reported on Thursday. State firm IBC and the CATL unit, CBL International Development, first announced their cooperation plan …
Indonesia Battery Corp, CATL unit sign JV deal, state media says Read More »
By Hritam Mukherjee (Reuters) -Indian shares fell for the third straight session on Thursday as motorcycle maker Bajaj Auto’s warning of weak festive period sales rippled through the markets, adding to the pressure of high stock valuations and the exodus of foreign funds. The Nifty 50 index dropped 0.9% at 24,749.85 points as of 3:30 …
Indian shares slip for third straight day as Bajaj Auto’s forecast adds to blues Read More »
