IBT Staff Reporter

Industrial firms including GE, chipmakers such SK Hynix and automaker Mercedes Benz warned that China's strict COVID-19 curbs were intensifying supply chain disruptions and raising uncertainty about the business outlook.

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New Zealand's once lauded COVID-19 response took a hit on Wednesday, when a High Court judge ruled a system used to allocate places in border quarantine facilities infringed on some citizens' right to return home.

Swedish banks SEB and Handelsbanken both delivered better-than-expected quarterly profit gains on Wednesday to send their shares higher even as the war in Ukraine and surging inflation began redrawing the economic outlook.

Mercedes-Benz expects strong demand for high-end cars to allow it to offset rising raw material and transport costs with higher prices, forecasting a pick-up in deliveries once chip shortages ease.

Deutsche Bank posted a better-than-expected 17% climb in first-quarter profit as investment banking revenues rose, but it warned that the Russia-Ukraine conflict could hurt full-year results.

Deutsche Bank posted a better-than-expected 17% rise in first-quarter profit on Wednesday as investment banking revenues climbed, but its share price fell as it warned that the Russia-Ukraine conflict could hurt annual earnings.

A mixed bag of earnings from some of Wall Street's biggest companies may muddy the outlook for investors hoping to "buy the dip" amid a vicious stock market selloff.

A regulatory gap allows automakers like Ford and BMW to make U.S.

Australia's spy chief says Canberra is concerned Chinese police deployed to the Solomon Islands under a new security pact could use "ruthless" techniques previously used to quell anti-government protests in Hong Kong.

South Korea's LG Display Co Ltd on Wednesday reported a 93% plunge in first-quarter profit, far below estimates as pandemic-driven demand for TVs, smartphones and laptops dropped off, causing sharp declines in panel prices.

LG Display Co Ltd saw first-quarter profit plummet far below forecasts and warned of a further drop in panel prices as pandemic-driven demand for TVs, smartphones and laptops fades and competition heats up.

Credit Suisse posted on Wednesday a 273 million Swiss franc ($283.6 million) first-quarter loss, prolonging the embattled lender's financial troubles after a slew of scandals.

Credit Suisse reported a 273 million Swiss franc ($283.6 million) first-quarter loss on Wednesday that worsened its financial pain and prompted a fresh management reshuffle at the lender.

Credit Suisse plans to rely on existing capital to navigate a challenging transition period, a source close to the matter said on Wednesday, even as a first-quarter loss worsened the Swiss bank's financial pain and triggered a new management reshuffle.

Indonesia widened the scope of its export ban on raw materials for cooking oil to include crude and refined palm oil, among other products, its chief economic minister said on Wednesday, just hours before the restriction comes into force.

Indonesia widened the scope of its export ban on raw materials for cooking oil to include crude and refined palm oil, its chief economic minister said on Wednesday, leaving markets in shock over the latest policy reversal.

Thailand's finance ministry on Wednesday reduced its 2022 economic growth forecast to 3.5% from a previous forecast of 4.0%, due to the impact of the Russia-Ukraine war on global growth and inflation, a ministry official said.

Despite unrest, it's business before politics in West Bank town

Gold prices fell on Wednesday as the dollar consolidated at its highest level in more than two years and pressured demand for greenback-priced bullion.

Gold prices fell on Wednesday as the U.S. dollar consolidated at its highest level in more than two years and pressured demand for greenback-priced bullion.

Gold prices slipped 1% to a two-month low earlier on Wednesday as a rally in dollar on expectations of faster U.S. rate hikes dented the appeal of greenback-priced bullion.

Gold prices slipped to a more than two-month trough on Wednesday as the dollar rallied on expectations of aggressive monetary policy tightening by the U.S. Federal Reserve.

The second round of COVID-19 testing in Beijing's largest district began on Wednesday, with this week's campaign to screen most of the Chinese capital's 22 million residents so far detecting less than three dozen new infections a day.

Millions in Beijing's largest district on Wednesday took their second COVID-19 tests this week as the Chinese capital tried to keep an outbreak of dozens from spiralling into a crisis that could force it into a distressing Shanghai-type lockdown.

Millions of people in Beijing took their second COVID-19 tests of the week on Wednesday as the Chinese capital tried to keep an outbreak numbering in the dozens from spiralling into a crisis like the one the locked-down city of Shanghai is enduring.

For the first time in decades, the actions of a foreign state have taken centre stage in an Australian election campaign, analysts said, as China's security pact with the Solomon Islands reverberates into neighbour Australia's domestic politics.

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