SINGAPORE, March 30 Reuters PetroChina, said on Thursday that it expects Chinese refined fuel demand to rise 3 this year from preCOVID levels in 2019 and that of natural gas to be up 5.5 from last year, after reporting a record net profit for 2022. The top Asian oil and gas producer made the remarks […]

MILAN, March 31 Reuters Shareholders in UniCredit met on Friday to vote on a new pay scheme for Chief Executive Andrea Orcel designed to reward outperformance with a 30 pay raise. Investors with 68.9 of the bank39;s capital were in attendance, the bank said. German insurer Allianz, which holds a 5.16 stake behind BlackRock39;s 5.9, has already […]

SHENZHEN, China, March 31 Reuters China39;s Huawei Technologies Co Ltd HWT.UL said net profit slumped last year, as the tech conglomerate boosted research and development spending and grappled with increases in materials costs. But revenue climbed 0.9, in line with a company prediction, suggesting that Huawei has reached some level of stability after successive rounds […]

SHANGHAIHONG KONG, March 30 Reuters Alibaba Group said on Thursday it will look to monetise noncore assets and consider giving up control of some businesses, as the Chinese tech conglomerate reinvents itself after a regulatory crackdown that wiped 70 off its shares. Group CEO Daniel Zhang said the company39;s breakup into separate businesses will allow its […]

BEIJING, March 29 Reuters China39;s CNOOC, more than doubled its net profit in 2022, benefiting from a year of elevated international oil and gas prices following Russia39;s invasion of Ukraine. The company, one of China39;s three largest statecontrolled oil and gas companies, posted a record consolidated net profit of 141.7 billion yuan 20.57 billion, a […]

Q1 profit beats expectations CEO says company aims for 10 operating margin in 2024 Secondhand resale platform Sellpy now part of HM STOCKHOLM, March 30 Reuters Fashion retailer HM reported a surprise operating profit for the December to February period as costcutting measures started to bear fruit despite consumers curbing spending, but said a cold spell […]

HONG KONGSHANGHAI, March 29 Reuters Chinese electric vehicle EV giant BYD said on Wednesday it was large enough to shake off the impact of a bruising price war and faltering demand in China, after reporting an 11fold increase in fourthquarter profit. The strong result came as it extended its lead in the Chinese market, thanks […]

March 28 Reuters Electricvehicle maker Lucid Group Inc said on Tuesday it would lay off about 18 of its workforce, or around 1,300 employees, to cut costs as part of a restructuring plan. The maker of Air luxury sedan last month forecast 2023 production that fell well short of analysts39; expectations and reported a major drop in orders […]

PARIS, March 29 Reuters Satellite company SES confirmed on Wednesday that it was in talks with U.S. rival Intelsat over a possible combination of their businesses that would create an industry giant. SES39; statement came after a Bloomberg report said the two companies were nearing a deal valued at more than 10 billion including debt. In […]

MILAN, March 29 Reuters Italy39;s top commercial broadcaster MFEMediaforeurope said on Wednesday its unit Mediaset had partnered up with Facebook owner Meta Platforms to fight online piracy. Under the multiyear partnership, Mediaset will work with Meta to implement a set of tools and systems to protect its unit Reti televisive Italiane RTI39;s copyrighted content, including live broadcasts. […]