Wide-body jet demand humming again as Boeing 787 joins the fray

Wide-body jet demand humming again as Boeing 787 joins the fray

The Boeing 787-10 Dreamliner sits on the tarmac before a delivery ceremony to Singapore Airlines at the Boeing South Carolina Plant in North Charleston, South Carolina, United States March 25, 2018. REUTERS/Randall Hill Register now for FREE unlimited access to Reuters.com Register Demand for long-haul jets rising after prolonged downturn Saudi Arabia discussing potentially significant … Read more

Explainer: How could the new US corporate minimum tax affect companies?

Explainer: How could the new US corporate minimum tax affect companies?

Aug 12 (Reuters) – The main revenue source in the new US tax, climate and drugs bill is a novel 15% corporate minimum tax aimed at stopping large, profitable companies from gaming the Internal Revenue Service code and slashing their tax bills to zero. The US House of Representatives was scheduled to vote on Friday … Read more

With Alibaba stake cut, SoftBank’s Son cools towards China tech

With Alibaba stake cut, SoftBank’s Son cools towards China tech

A journalist raises her hand to ask a question to Japan’s SoftBank Group Corp Chief Executive Masayoshi Son during a news conference in Tokyo, Japan, November 5, 2018. REUTERS/Kim Kyung-Hoon/File Photo Register now for FREE unlimited access to Reuters.com Register TOKYO, Aug 12 (Reuters) – SoftBank Group Corp’s (9984.T) decision to sell down its Alibaba … Read more

S.Korea’s Yoon pardons Samsung’s Jay Y. Lee to counter ‘economic crisis’

S.Korea’s Yoon pardons Samsung’s Jay Y. Lee to counter ‘economic crisis’

Samsung heir served 18 months in jail for bribery Businessmen were convicted in the scandal that felled a president South Korea says leaders needed to help overcome economic crisis Samsung may increase investment with Lee pardoned – analysts SEOUL, Aug 12 (Reuters) – South Korea’s President Yoon Suk-yeol pardoned Samsung Electronics (005930.KS) Vice Chairman Jay … Read more

US gasoline prices fell below $4 for the first time since March

US gasoline prices fell below  for the first time since March

Gasoline demand has waned in the summer Lower-income households spend less as prices dip US retail prices hit a record in June Aug 11 (Reuters) – The average price of US retail gasoline fell below $4 per gallon on Thursday for the first time in months, giving some relief to drivers in the world’s largest … Read more

Foxconn starts to feel the sting of slowing smartphone sales

Foxconn starts to feel the sting of slowing smartphone sales

Q2 profit T$33.29 billion vs T$31.02 billion market view Q2 revenue rose 12% to T$1.5 trillion Sees flat growth for consumer electronics in Q3 Sees strong growth for cloud and networking products in Q3 Says has plan B if authorities don’t approve China Tsinghua investment TAIPEI, Aug 10 (Reuters) – Apple (AAPL.O) iPhone assembler Foxconn … Read more

Wall Street rally lifts Nasdaq 20% from low as inflation fears ebb

Wall Street rally lifts Nasdaq 20% from low as inflation fears ebb

Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, US, August 8, 2022. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register Fed now seen delivering 50 bps hike in September US consumer price growth slows in July Musk sells Tesla shares worth $6.9 … Read more

Shrinking US cattle herd signals more pain from high beef prices

Shrinking US cattle herd signals more pain from high beef prices

Cuts of meat are seen for sale at a butcher shop in Manhattan, New York City, US, August 8, 2022. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register CHICAGO, Aug 9 (Reuters) – US consumers grappling with soaring inflation face more pain from high beef prices as ranchers are reducing their cattle … Read more

Nasdaq closes lower as chipmaker Micron’s warning renews tech rout

Nasdaq closes lower as chipmaker Micron’s warning renews tech rout

Micron falls on lowered revenue forecast Semiconductor stocks drop for third session Novavax tumbles after cutting revenue view by half NEW YORK, Aug 9 (Reuters) – The Nasdaq closed down on Tuesday after a dismal forecast from Micron Technology pulled chip makers and tech stocks lower as investors await US inflation data that could lead … Read more

Aluminum foundry fights for survival in the European gas crisis

Aluminum foundry fights for survival in the European gas crisis

Family-owned aluminum foundry trials new shift pattern Plan to maintain production and reduce gas usage Carmakers warn output cuts inevitable if suppliers close New gas-free technologies will take years to scale up Suppliers need more help to innovate, industry says SOLTAU, Germany, Aug 9 (Reuters) – Shouting over the clanging of machinery, Gerd Roeders is … Read more