Rio Tinto ‘Not Too Worried’ About China’s Soft Steel Demand
Rio Tinto Group, the world’s biggest iron ore producer, has brushed off concerns about falling steel demand in China, saying the Asian nation’s overall economic outlook is good.
Bloomberg Business
Ex-Fed Presidents Getting Worried About US Regional Bank Turmoil
Former Federal Reserve regional presidents Robert Kaplan and Dennis Lockhart are becoming concerned over the recent US regional banking turmoil which has started engulfing one lender after the other this year.
Pick n Pay Misses Dividend Estimates as Power Costs Increase
Pick n Pay Stores Ltd. missed dividend estimates as South Africa’s third-largest grocer incurred extra costs to keep the lights on at its stores amid nationwide power outages.
Zalando Nears Break Even in Quarter Amid Profitability Push
Zalando SE was close to break even on its first-quarter adjusted earnings, beating analyst estimates, as the German online fashion retailer’s focus on profitability has boosted its performance.
Chinese Stocks Pare Losses as Traders Weigh Robust Holiday Data
Chinese stocks trimmed an early loss as traders weighed upbeat holiday travel data against a contraction in factory output.
India EV-Only Uber Rival Raises $42 Million in BP-Led Round
BluSmart Mobility, an Indian ride-hailing startup that uses only electric vehicles, has raised $42 million as it intensifies its battle against the two dominant operators, Uber Technologies Inc. and Ola Cabs.
Covid Rise Tests Malaysia Hospitals as Philippines Reopens Wards
Rising Covid cases are threatening to overstrain Malaysia’s crowded hospitals and the Philippines reopened its coronavirus treatment wards amid a surge in Southeast Asia, underscoring the need for governments to adjust to the disease’s ebb and flow in a world now living with the virus.
Vodafone, CK Hutchison Near £15 Billion UK Mobile Tieup, FT Says
Vodafone Group Plc and CK Hutchison Holdings Ltd. are nearing a £15 billion ($19 billion) agreement to combine their UK telecommunications businesses and create the country’s biggest mobile-phone operator, according to the Financial Times.
National Australia Bank CEO Says Profit Getting Harder to Make
Australian bank margins have hit the peak and earnings are going to become harder to eke out, National Australia Bank Ltd. Chief Executive Officer Ross McEwan warned Thursday.
Dubai School Operator’s Talks With Abu Dhabi Group Stall
Dubai-based GEMS Education is considering options for the business after talks to sell a controlling stake to a consortium of Abu Dhabi state-backed entities stalled over valuation, according to people familiar with the matter.