202223 profit up betterthanexpected 5.7 Sees prices up 7 in springsummer, up 3 in autumnwinter Maintains sales and profit guidance for 202324 LONDON, March 29 Reuters British fashion retailer Next reported a betterthanexpected 5.7 rise in annual profit on Wednesday and said it would not need to increase prices by as much as previously thought. However, […]

March 29 Reuters Investors cheered a major revamp of Alibaba Group as a sign Beijing39;s crackdown on the corporate sector was nearing an end, sending shares of the Jack Mafounded company and its peers soaring on Wednesday. Alibaba said on Tuesday it was planning to split into six units and explore fundraisings or listings for most of them, […]

LONDON, March 28 Reuters BP and Abu Dhabi39;s state oil giant on Tuesday offered to acquire 50 of Israeli offshore natural gas producer NewMed Energy for around 2 billion, making their entry into Israel39;s growing energy sector. The offer would involve acquiring NewMed39;s free floating shares and taking the company private. BP shares gained 2 by 0810 […]

March 28 Reuters Alibaba Group Holding Ltd said it plans split its business into six main units covering ecommerce, media and the cloud, adding that each of the units will explore fundraising or initial public offerings. Alibaba39;s U.S.listed shares rose 7 in premarket trading. Here are comments from analysts ART HOGAN, CHIEF MARKET STRATEGIST AT B RILEY […]

March 26 Reuters Swedish lithiumion battery producer Northvolt is in talks to secure more than 5 billion of financing to pursue its goal of becoming Europe39;s biggest battery manufacturer, the Financial Times reported on Sunday. The company is negotiating with a number of banks to raise the amount and an agreement could be reached later this year, […]

Bank expects to benefit from merger CEO Expects growth plans to be accelerated CEO Growth potential likely limited by canton ownership professor Posted record profit for 2022 ZURICH, March 27 Reuters The largest of Switzerland39;s stateowned cantonal banks expects a boost in growth from the planned merger of UBS and Credit Suisse, its chief executive has […]

HONG KONG, March 27 Reuters Credit Agricole, France39;s secondbiggest listed bank, has become the latest foreign lender to boost its China investment banking operations with the launch of a new unit. The new unit, Credit Agricole Beijing Advisory Services, focuses on crossborder merger and acquisition, encompassing purchases, disposals and capital raising, it said in a […]

March 24 Reuters Faberge jewellery brand owner Gemfields Group, reported a 2 rise in fullyear profit on Friday helped by higher prices for uncut emeralds and rubies. The precious stone miner said headline earnings per share, the main profit measure in South Africa, rose to 4.8 U.S. dollar cents for the year ended Dec. 31, […]

SHANGHAI, March 24 Reuters Chinese food delivery giant Meituan posted a biggerthanexpected 21.4 rise in quarterly revenue on Friday as it fended off competition from powerful rivals such as Alibababacked Ele.me. Meituan whose socalled super app provides services ranging from bikesharing, movie ticketing, mapping, to food delivery and restaurant bookings said its total revenue rose to […]

OSLO, March 24 Reuters Norway39;s 1.3 trillion wealth fund, one of the world39;s largest investors, will vote in favour of a shareholder motion calling on Starbucks to report on how it respects labour rights, the fund39;s manager said on Thursday. The Norwegian fund owns 1.05 of Starbucks39; shares, worth 1.2 billion at the end of 2022, […]