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 …
By Stefania Spezzati LONDON (Reuters) -UniCredit is still awaiting a court decision over whether it must immediately reduce its Russia business to comply with a European Central Bank order, months after filing an objection, people familiar with the situation told Reuters. The near four-month wait for a decision increases pressure on the lender to show …
UniCredit in court limbo over ECB’s Russia demands, sources say Read More »
By Jesus Calero and Elviira Luoma (Reuters) – Nordea has seen aggressive pricing behaviour among Nordic banks, especially in Sweden, as they compete for customers amid softening loan demand, the CEO of the region’s biggest lender said on Thursday. Competition in Nordea’s key markets is intensifying, with lenders chasing market share in both retail and …
Nordea CEO flags price war in Sweden as lenders battle for market share Read More »
By Camillus Eboh ABUJA (Reuters) – Nigeria launched a new malaria vaccine on Thursday that will be freely administered to recipients, its health minister said, marking a significant milestone in its fight against the deadly disease. The launch makes the country one of the first in the world to back the new R21 vaccine, developed …
Nigeria rolls out new Oxford R21 malaria vaccine Read More »
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 »
(Reuters) -The U.S. Federal Reserve finally cut its interest rate by an oversized 50 basis points (bps) in its Sept 17-18 meeting that Chair Jerome Powell said was meant to show policymakers’ commitment to sustaining a low unemployment rate now that inflation had eased. In addition to approving the half-percentage-point cut, Fed policymakers projected the …
Factbox-What to expect in 2024: Forecasts for GDP, inflation and other assets 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 »
ATHENS (Reuters) – A Greek court on Thursday handed a 15-month suspended prison sentence to a former regional governor in central Greece and three other former officials over the handling of deadly floods in 2020. Cyclone Ianos swept through central Greece in 2020, killing three people, flooding cities and highways in the region of Thessaly …
Greece court sentences former state officials over deadly 2020 floods in central Greece 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 »
