Asian shares crept to 15-month highs on Monday in a week where inflation figures could make or break hopes for earlier US rate cuts, while Chinese activity data will test optimism about a sustained recovery in the world's No. 2 economy. Beijing has already reported a welcome pickup in inflation to
Meme stocks are soaring again, delighting fans, frustrating detractors and showing Wall Street that the social media force behind the wild GameStop (GME.N) rally in 2021 is still going strong. The American video game retailer is again the star, shooting up 340 per cent over the last 10 trading day
Intel, a major player in the chip industry, suffered a material drop in its stock price on Wednesday as its operations faced a significant setback due to renewed US sanctions on one of Intel's customers in China. Intel shares experienced a drop of 2.22 per cent on Wednesday, reflecting investor wo
Saudi Arabia's state-owned oil giant Aramco has reported a 14.4 per cent fall in first-quarter net profit on the back of lower oil prices and volumes sold. Net profit declined to $27.3 billion for the three months to March 31, in line with the $27.6 billion expected by 12 analysts in a company-pro
ICICI Bank, India's second-largest private lender, reported a better-than-expected 17.4 per cent increase in fourth-quarter net profit on Saturday, helped by robust loan growth even as its lending margin shrunk. The lender's standalone net profit, excluding subsidiaries, rose to a record 107.08 bi
Asian stocks recovered some losses on Monday and bond yields rose as fears of a wider Middle East conflict ebbed, with investors gravitating back towards riskier assets. Gold and the safe-haven dollar pulled back from near their peaks, and crude oil prices declined as the potential for a major sup
Global markets showed signs of recovery in early European trading on Thursday, with stocks rising and the US dollar pulling back from recent gains, while finance chiefs of the US, Japan and Korea issued a rare warning about currency weakness. Stock markets sold off earlier this week, while Treasur
Morgan Stanley's first-quarter profit beat estimates on Tuesday, fuelled by a resurgence in investment banking and growth in wealth management, sending shares up 3.7 per cent. Investment banking revenue climbed 16 per cent from a year earlier. Fixed-income underwriting did well for a second quarte
The main European energy stocks index hit its highest level since 2008 as higher oil prices, geopolitical risks, and global economic uncertainty drew in investors on Friday. The STOXX Europe 600 Oil & Gas index rose around 2 per cent, led by increases for BP, Shell, Siemens Energy and TotalEnergie
Global sales of fully electric and plug-in hybrid vehicles (PHEVs) rose 12 per cent in March versus the same month in 2023, with growth in China and the US market partly offset by a 9 per cent drop in Europe, market research firm Rho Motion said on Friday, reports Reuters.
Asian equities were in a subdued mood on Friday, as investors pondered the path for Federal Reserve (Fed) interest rate cuts amid a murky US inflation outlook. Gold rose to a fresh all-time peak, after a mild reading for producer price inflation kept alive hopes for Fed easing this year,
Citigroup is in the last phase of a sweeping overhaul to simplify its structure and improve performance, the bank said, after shrinking its workforce by 5,000 employees since September. The largest round of staffing moves, including reassignments and departures, will be communicated to employees f
Social media platform Reddit's shares ticked down 2.6 per cent before the bell on Friday, a day after it notched a 48 per cent gain in its debut on the New York Stock Exchange. The company's share sale was closely watched for more clues about investor interest in new share issues following a prolo
