By Byron Kaye and Echha Jain SYDNEY (Reuters) - Australia\'s No. 2 supermarket operator Coles Group (OTC:CLEGF) on Tuesday rejected accusations of price gouging as its first-half profit beat analyst forecasts, saying food inflation was a global problem and its margins were steady. Coles and larger rival Woolworths Group, which together account for two-thirds of...
By Brigid Riley TOKYO (Reuters) - As economic and geopolitical woes spur an exodus of investors from China, many have been redirecting money into Japan, giving the benchmark Nikkei an extra boost as it rockets to all-time highs. While some investors just want to say goodbye to Japan\'s troubled neighbour in embracing the land of...
By Sarah Morland MEXICO CITY (Reuters) -Mexican restaurant chain operator Alsea on Monday posted a 37% jump in its net profit for the last three months of 2023, citing an uptick in sales linked to better consumer trends. The company\'s net profit touched 1.05 billion pesos ($62 million). Alsea, which operates chain stores including Starbucks...
SINGAPORE (Reuters) - Cryptocurrency bitcoin hit a two-year high above $57,000 in Asia trade on Tuesday on signs of heavy institutional buying, while smaller rival ether topped $3,200 for the first time in two years. Bitcoin has rallied more than 10% in two sessions, helped by a Monday disclosure from crypto investor and software firm...
-- Most Asian stocks retreated on Tuesday as caution persisted before a string of key economic readings this week, with Japan’s Nikkei 225 falling from record highs after a slightly stronger-than-expected inflation print. Regional markets took weak cues from a middling overnight close on Wall Street, as a tech-fueled rally to record highs now appeared...
-- Standard Chartered PLC (LON:STAN) suspended new offshore investments by its Chinese clients through a key regulatory program since last week, Reuters reported on Tuesday citing a statement from the lender. The Asia-focused bank told Reuters that it had suspended new investments under the Qualified Domestic Institutional Investor (QDII) programme for “commercial reasons.” The move comes...
-- Shares of Hong Kong-listed Chinese electric vehicle stocks rose on Tuesday, led chiefly by a sharp rally in Li Auto Inc (HK:2015) (NASDAQ:LI) after the firm clocked stronger-than-expected earnings in the fourth quarter. Shares of the EV maker jumped nearly 20% to HK$166.30- their highest level since August 2023. The stock was the top...
By Sophie Yu and Brenda Goh BEIJING (Reuters) - Chinese state-owned planemaker COMAC will conduct flying displays of its C919 and ARJ21 jets in five Southeast Asian countries, it said on Tuesday, as it looks to lay the groundwork for future international sales. Over the next two weeks, the C919 and ARJ21 jets will conduct...
-- Shares of Samsonite International SA (OTC:SMSEY) (HK:1910) rose sharply on Tuesday after a Bloomberg report said the Hong Kong-listed luggage maker is considering its options after receiving takeover interest from several suitors. Samsonite is considering several options, including potentially going private, Bloomberg reported, with the luggage maker having already held discussions with several suitors,...
By Gilles Guillaume and Nick Carey GENEVA (Reuters) -Renault and China-owned MG launched new electrified cars in Europe at the Geneva car show on Monday as Chinese automakers seek to take more market share from legacy European rivals. Europe\'s auto industry is scrambling to cut costs and roll out more affordable, well-reviewed electric vehicles (EVs)...