-- Most Asian stocks retreated on Wednesday, tracking overnight weakness in Wall Street as risk sentiment wavered ahead of more cues from the Federal Reserve and key earnings from artificial intelligence giant NVIDIA Corporation (NASDAQ:NVDA). Chinese markets, however, saw extended gains as they recovered further from five-year lows. A bigger-than-expected interest rate cut by the...
-- Most major Asian chipmaking stocks moved in a flat-to-low range on Wednesday, tracking overnight declines in NVIDIA Corporation (NASDAQ:NVDA) as markets awaited more cues on an AI-driven boom from the chipmaker’s fourth-quarter earnings. Nvidia wiped out about $100 billion in market capital on Tuesday, also seeing a measure of profit-taking as investors waited to...
(Reuters) - Pilots at Network Aviation, a subsidiary of Qantas Airways, has called off their four-day strike plan from Thursday to enable evacuation flights if required due to the threat from ex-Tropical Cyclone Lincoln, a pilots union said. The pilots at Network Aviation, which conducts charter flights from mines in Western Australia, made the decision...
-- Shares of major Australian mining stocks fell sharply on Wednesday, tracking a decline in iron ore prices amid growing concerns that worsening global economic conditions will dent demand for the steel-making material. BHP Group Ltd (ASX:BHP) and Rio Tinto Ltd (ASX:RIO)- Australia’s two biggest mining companies by market capital, slid 2.2% and 1.6%, respectively....
-- Asia-focused lender HSBC Holdings PLC (HK:0005) (LON:HSBA) clocked weaker-than-expected profit growth for 2023, but still marked a record-high pre-tax profit as it benefited greatly from higher interest rates across the globe, with the bank also announcing an up to $2 billion buyback. HSBC’s profit before tax for the year to December 31 rose to...
By Selena Li and Lawrence White HONG KONG/LONDON (Reuters) -HSBC Holdings reported a record annual profit, that nonetheless came in below analysts\' forecasts as the income boost from higher interest rates was offset by a hefty $3 billion charge from its stake in a Chinese bank. HSBC, which has a market value of $160 billion,...
-- Anglo-Australian miner Rio Tinto Ltd (ASX:RIO) clocked a weaker underlying profit for 2023 as softer iron ore prices and demand weighed on its topline, although the figure was still slightly above expectations on stronger production. Rio Tinto’s underlying profit- which excludes special items- fell about 12% to $11.8 billion in the year to December...
By Samuel Indyk and Alun John LONDON (Reuters) - Investors have been pouring cash into Swiss stocks in the hope that this export-focussed market will outshine its peers, in part thanks to a shift in central bank policy that could knock the franc further off 2023\'s multi-year highs. Analysts say this quarter will probably remain...
(Reuters) - Rio Tinto (NYSE:RIO) reported an 11% drop in full-year underlying earnings on Wednesday, as lower contributions from its aluminium business amid weaker prices countered production gains at the iron ore segment. Average prices Rio Tinto received for aluminium sold slipped over 2023 from COVID-era peaks, as supply chains normalised and demand from Western...
By Nick Carey BERKHAMSTED, England (Reuters) - Electric vehicle drivers unable to install a charger at home are turning instead to stopgaps offered by U.S. and European firms as alternatives to often expensive or inconvenient public charging points. The solutions include online platforms allowing people to rent out their chargers, \"pavement gullies\" for properties with...