Hedge fund outflows add to market risks, signaling less revenue
Redemptions, asset values and performance detracted from hedge-fund industry balances in 2022, with funding costs an added deterrent to leverage.
Continental Confirms 2023 Outlook after Solid First Quarter
BERLIN, May 10 Reuters Continental confirmed its 2023 outlook on Wednesday as a result of strong firstquarter results, with sales increasing 11.1 to 10.3 billion euros 11.34 billion. The German automotive parts company said adjusted earnings before interest and taxes had risen 35 to 578 million euros in the quarter, with particularly strong sales in its […]
Roblox Quarterly Loss Widens on Higher Expenses, Shares Tank
May 10 Reuters Roblox Corp posted a largerthanexpected quarterly loss on Wednesday, hurt by higher expenses to support the expansion of its business, sending the company39;s shares down 12 in premarket trading. Californiabased Roblox said higher expenses due to developer exchange fees, personnel costs and infrastructure were the reason behind the bigger loss. Roblox, which is […]
Panasonic sees Record Profit on Robust Battery Demand
TOKYO, May 10 Reuters Japan39;s Panasonic Holdings Corp on Wednesday said it expects net profit to rise to a record high this year on robust auto battery sales and a hefty tax credit in the United States. The industrial conglomerate, which supplies batteries to U.S. electric vehicle EV leader Tesla Inc, is expanding its energy business […]
Bank of America Opens Luxembourg Branch in Europe Funds Push
LONDON, May 10 Reuters Bank of America has hired former BNP Paribas banker Benoit Nevouet to be the manager of a newly created Luxembourg branch as the U.S. lender seeks to grow its business in Europe, a senior executive at Bank of America told Reuters. The opening of a branch in the small but wealthy country […]
Philippine Airlines to Buy Nine Airbus A3501000 WideBody Jets
New aircraft to serve longhaul market Carrier has rights to buy three more widebody aircraft Company39;s first jet purchase after bankruptcy process in 2021 MANILA, May 10 Reuters Philippine Airlines PHL.UL will order nine Airbus A3501000 widebody aircraft to expand its fleet and route network as air travel recovers from the pandemic, the flag carrier said […]
Siemens Healthineers Q2 Profit Falls, Quits Heart Surgery Robots Business
May 10 Reuters U.S.German medical device maker Siemens Healthineers on Wednesday said it was discontinuing its heart surgery robot business as it posted a 30 drop in secondquarter operating profit on shrinking demand for COVID19 tests. The group said it would take a 329million euro 362 million writedown on the robotassisted endovascular cardiology business, which it […]
Toyota Targets 10 Profit Jump, Robust EV Sales as Chip woes Recede
Expects fullyear operating profit to climb to 22.2 bln Targets 10.1 mln vehicle production in new FY, up 11 YY Q4 profit jumps 35, beats forecasts; record annual revenue Shares close up 0.8 after rising as much as 2.5 TOKYO, May 10 Reuters Toyota Motor Corp on Wednesday said it expects operating profit to climb 10 […]
Oil Falls on Surprise Increase in U.S. Inventories
U.S. consumer price index figures for April due on Wednesday Coming up EIA data on U.S. oil inventories at 1030 a.m. EDT May 10 Reuters Oil prices fell on Wednesday, ending a threeday rally as an unexpected rise in U.S. oil inventories sparked demand concerns and investors waited for inflation data for a steer on […]
U.S. Inflation Figures Ahead, U.S. Debt Ceiling Crisis Unresolved, Oil Retraces Upwards, Metals Higher
PREVIOUS TRADING DAY EVENTS 09 May 2023 Announcements U.S President Joe Biden and top Republicans and Democrats from Congress sat down at the White House on Tuesday to discuss the debt ceiling and spending. Discussions ended with no consensus on how to end their impasse over the federal debt and spending just weeks before the […]