BUSINESS

In energy-starved South Africa, whites-only town basks in solar power

China's industry minister faces corruption probe

Northrop Grumman Corp missed estimates for quarterly sales on Thursday, as sustained labor shortages and global supply chain issues dent deliveries for the U.S. weapons maker.

Northrop Grumman Corp reported a 3.8% fall in quarterly sales on Thursday, as sustained labor shortages and global supply chain issues dent deliveries for the U.S. weapons maker.

U.S. seniors tell pollsters that high inflation is one of their top worries - and that makes sense.

Private-equity firm Carlyle Group Inc said on Thursday its second-quarter distributable earnings rose 34%, driven by asset sales that were completed even as markets nosedived.

Three foreign climbers feared dead on Pakistani peaks

China lockdown, chip shortage hit Nissan profits

Retailer Casino said on Thursday it was confident it would execute its disposal plan to reduce debt as planned after sealing a deal to sell its majority stake in its renewable energy business GreenYellow.

Europe's biggest oil companies Shell and TotalEnergies extended share buybacks on Thursday after their second-quarter profits beat an already record-breaking previous quarter on the back of soaring crude, gas and oil product prices.

Asian tech firms from chipmaker Samsung to display panel maker LG Display warned of a sharp slowdown in demand for smartphones, TVs and gadgets as surging inflation and deepening concerns of a recession crimp consumer spending.

Taiwan's China Airlines Ltd is "actively" looking at options to replace its ageing fleet of 22 Airbus SE A330 widebodies and is also starting to examine next-generation freighter planes, the company's president told Reuters.

China's crisis-hit property sector has driven underperformance this year in some Asia-focused credit funds, including one led by a former Lehman Brothers portfolio manager, pummelling their returns and bringing years of gains to a juddering halt.

Barclays' first half profit fell more than expected due to a 1.9 billion pound ($2.3 billion) hit for regulatory misteps mostly from covering the costs of having to buy back billions of dollars worth of securities it sold in error.

Barclays' profit was dented by a 1.9 billion pound ($2.3 billion) hit for regulatory missteps, including having to buy back billions of dollars of securities the bank sold in error, overshadowing an otherwise solid performance.

Barclays' first-half profits were dented by a 1.9 billion pound ($2.3 billion) hit for regulatory missteps, including the costs of having to buy back billions of dollars of securities the bank sold in error.

Global miner Anglo American cut payouts to shareholders after higher costs and lower production, in part because of extreme weather, reduced first-half earnings by just over a quarter versus a year ago.

Shell on Thursday reported a second quarter profit of $11.5 billion, smashing its previous record just three months earlier, lifted by a tripling of refining profits and strong gas trading.

Stellantis beat first-half profit forecasts thanks to strong pricing and high-margin vehicle sales, but rising production as a chip shortage eases could hit the auto industry's ability to raise prices in 2023, its top executive warned on Thursday.

Strong pricing power and sales of high margin vehicles including electric ones helped Stellantis to beat profit forecasts in the first half of the year despite headwinds from energy and raw material inflation and semiconductor scarcity.

North Korea's Kim says 'ready to mobilise' nuclear weapons

Volkswagen said it expected to reach the upper end of its 7%-8.5% operating margin goal for the year on Thursday, as supply chain bottlenecks in items from wire harnesses to chips eased, and confirmed plans to list its Porsche brand this year.

Volkswagen confirmed its full-year outlook on Thursday as supply chain bottlenecks in items from wire harnesses to chips eased, but warned the war in Ukraine and threats to European energy supply loomed over the second half.

Hundreds of aftershocks shake earthquake-hit northern Philippines

Nestle warned on Thursday that price hikes could eventually weigh on sales volumes for the maker of Cheerios cereals, Kit Kat bars and Nescafe as it raised its full-year sales growth forecast to 7-8% and trimmed its margin guidance.

Anheuser-Busch InBev, the world's largest brewer, reported higher than expected second-quarter earnings on Thursday as its Latin American consumers drank more and it pushed through higher prices globally.

South Korean export growth rate likely rebounded in July, but remained in the single-digit level, a Reuters poll showed on Thursday, while consumer inflation is seen accelerating to a fresh 24-year high.

Two German renewable companies hope to build one of the country's biggest solar parks among rolling hills in the eastern district of Barnim to improve energy security in the face of an unprecedented supply crisis.

Struggling Chinese developer Evergrande Group is selling its Hong Kong headquarters via a tendering process that ended on Thursday, a source with direct knowledge said, and local developer CK Asset confirmed it has bid for it.