BUSINESS

Surge in prices creates headache for Germany's brewers

Oil prices steadied after trading in and out of positive territory on Thursday as investors weighed up tightening Russian supplies and the prospect of slowing fuel demand in China.

Oil prices edged lower in early Asian trade on Thursday as concerns about rising coronavirus cases in China, the world's biggest oil importer, weighed on futures markets.

Global demand for gold surged 34% year-on-year in the first quarter to the highest in over three years, driven by investors worried about Russia's invasion of Ukraine and rising inflation, the World Gold Council (WGC) said in a report on Thursday.

Samsung Electronics Q1 net profit up almost 60 percent

Elon Musk's criticism of Twitter Inc sparked a barrage of abusive tweets against the company's top lawyer on Wednesday, raising questions about his compliance with a non-disparagement agreement and the tone that the social media platform's incoming owner will set for its users.

Judge sides with Elon Musk in lawsuit over SolarCity

Samsung Electronics Co Ltd said on Thursday it expects firm data centre demand for high-margin memory chips to continue in the second half, but warned component shortages will likely persist as well.

Samsung Electronics Co Ltd reported a 51% rise in quarterly profit on Thursday, posting its highest first-quarter profit since 2018 as robust data centre demand for high-margin memory chips underpinned chip prices.

Facebook parent Meta calms investors with strong profit

Fortescue Metals Group raised its full-year iron ore shipments forecast on Thursday helped by a production ramp-up at Eliwana operations, while increasing capital estimate for its key Iron Bridge Magnetite project in Western Australia.

Australia's No. 2 grocer Coles Group said on Thursday it hopes improved stock availability will curtail racing inflation as it met analysts' third-quarter sales forecasts, but warned soaring supply costs would dog the economy for another year.

Australian grocer Coles Group expects raw material inflation to continue through to fiscal 2023 and likely benefit its earnings, with eased COVID-19 curbs further boosting sales.

The U.S. consumer watchdog will revisit its rules around credit card fees in a bid to stamp out abuses, discourage excessive late fees and boost competition, the agency's director told Congress on Wednesday, confirming a Reuters April report.

Ford confirms 2022 profit outlook despite lingering semiconductor crunch

Investors speculating over whether Elon Musk will complete his $44 billion acquisition of Twitter Inc sent the social media company's shares on Wednesday to their lowest level since the deal was announced two days ago.

The Bank of Japan on Thursday strengthened its commitment to keep interest rates ultra-low by vowing to buy unlimited amounts of bonds daily to defend its yield target, triggering a fresh sell-off in the yen and sending government bonds rallying.

The Bank of Japan on Thursday maintained its massive stimulus programme and a pledge to keep interest rates ultra-low, reinforcing its resolve to support a fragile economy even as sharp rises in raw material costs push up inflation.

Federal prosecutors on Wednesday charged Archegos Capital Management founder Bill Hwang with 11 criminal counts and the private investment firm's former chief financial officer, Patrick Halligan, with three counts over Archegos' collapse a year ago.

Amgen Inc on Wednesday said the U.S. Internal Revenue Service (IRS) is seeking additional back taxes of $5.1 billion, plus interest and penalties, related to the drugmaker's 2013 to 2015 accounting for profits between the United States and Puerto Rico, the location of most of its manufacturing operations.

Amgen Inc on Wednesday said the U.S. Internal Revenue Service (IRS) is seeking additional back taxes of $5.1 billion, plus interest and penalties, related to the drugmaker's 2013 to 2015 accounting for profits between the United States and Puerto Rico, the location of most of its manufacturing operations.

Mattel Inc reported a surprise quarterly profit and beat estimates for sales, extending a strong run since the pandemic, as retailers restocked the toymaker's Barbie and Hot Wheels brands following inventory shortfalls over the holiday season.

Meta Platforms Inc shares climbed on Wednesday as Facebook's quarterly daily active users were above Wall Street estimates, even as Meta recorded its slowest revenue growth in a decade.

Musk's Twitter purchase puts moral champion in crosshairs

Hertz Global Holdings Inc new chief executive on Wednesday said he expects Americans' pent-up desire for a summer vacation to lead to more strong rental car demand despite rising inflation.

Hertz Global Holdings Inc new chief executive on Wednesday said he expects Americans' pent-up desire for a summer vacation to lead to continued strong rental car demand despite rising inflation.

The Cuban central bank issued regulations on Tuesday for virtual asset service providers, after giving a nod last year to the personal use of cryptocurrencies, a move some experts said could help the Communist-run Caribbean island skirt stiff U.S.

McDonald's is poised to take a bigger financial hit from the war in Ukraine and shuttered locations in Russia than any other major global restaurant chain, with investors watching on Thursday when it reports first quarter earnings to see how much the company stands to lose.

With prisoner swap, US and Russia return to time-honored rite