The U.S. gas market is tightening rapidly
The U.S. has ended a mild winter with high natural gas storage levels and prices touching record lows, but as usual this is setting the scene for the next run-up.
Oil Prices Stabilise after Hefty Losses
TOKYO, April 27 Reuters Oil prices steadied on Thursday after the previous day39;s price drop erased the supportive impact of a surprise cut to OPEC production targets this month. Brent crude edged up 18 cents, or 0.23, to 77.87 a barrel by 1344 GMT while U.S. West Texas Intermediate crude rose 12 cents, or 0.16, […]
Geelys EV Brand Zeekr Jumps on the Gigapress Bandwagon
April 27 Reuters Geely39;s EV brand Zeekr is the latest to join a growing list of automakers that have turned to the gigapress die casting technique pioneered by Tesla to slash the cost of electric cars. Zeekr39;s manufacturing technology chief Jiang Kehong told Reuters the Chinese carmaker had started using massive aluminium die casts to […]
Samsung Flags H2 Recovery after 3.4 bln Chip Loss in Q1
JanuaryMarch operating profit down 95 Q2 recovery expected to be limited Samsung spends biggest capex for any first quarter despite loss Samsung to keep chip investment similar to 2022 SEOUL, April 27 Reuters Samsung Electronics Co Ltd flagged a gradual recovery for chips in the second half of the year after its semiconductor business reported a […]
Chinese EV Giant BYDs FirstQuarter Profit Jumps Fivefold
BEIJINGSHANGHAI, April 27 Reuters Chinese electric vehicle giant BYD Co. posted a fivefold jump in its firstquarter profit on Thursday as the company consolidated its leadership in the domestic market. Net profit for the first three months of the year was 4.13 billion yuan 596.56 million, up 410.9 from 808.41 million yuan a year earlier, on […]
Mitsui, Japan GovtBacked Fund to Buy into Philippines Metro Pacific
Japanese firms, top shareholders partner for tender offer, delisting Metro Pacific to continue managing assets, investing Philippine brokerage firm warns of low tender offer price MANILA, April 27 Reuters Mitsui Co Ltd and a Japan governmentbacked fund announced plans on Thursday to buy a minority stake in Philippine infrastructure firm Metro Pacific Investments Corp, as it […]
Toyota Edges Past 9.1 mln Vehicle Output Goal, Warns Chip Shortage Lingering
TOKYO, April 27 Reuters Japan39;s Toyota Motor Corp set a global annual output record in the business year ended in March, just edging past its target of 9.1 million vehicles as factory disruption from global chip supply woes and pandemic lockdowns eased. But the world39;s biggest automaker by sales warned it continued to see impacts from […]
Unilever Sales Beat Estimates Even as Price Rises Slow
Q1 underlying sales growth 10.5 vs forecast 7.2 Q1 pricing up 10.7, volumes down 0.2 Shares up almost 2 LONDON, April 27 Reuters Unilever smashed quarterly sales forecasts on Thursday as another big rise in prices from the maker of Dove soap and Ben Jerry39;s ice cream triggered only a small dip in volumes, sending its […]
Volvo Cars sees no need to Cut Prices as Demand is Healthy
STOCKHOLM, April 27 Reuters Swedenbased automaker Volvo Cars reaffirmed its outlook on Thursday and said it saw no point in cutting prices given healthy demand as its operating earnings beat estimates. Its shares shot up 8 at the market open before retreating to trade flat at 0736 GMT, which Bernstein analyst Daniel Roeska said could be […]
TotalEnergies Sheds Canadian Oil Sands, Promises to Reward Shareholders
Energy major set to sell Canada business to Suncor Will get 4.1 bln in cash, possible 450 mln extra payment Adj net income for Q1 6.5 bln, in line with forecasts PARIS, April 27 Energy major TotalEnergies said on Thursday it had accepted an offer to sell its carbonheavy Canadian oil sands operations to Suncor Energy for […]