By YURI KAGEYAMA, AP Business Writer TOKYO (AP) — Asian shares gained Friday as investors cheered a strong set of earnings from retailers that has sent US shares higher. Benchmarks were rising in early trading across the region, including Japan, China, Australia and South Korea. “Improved risk sentiments in Wall Street, along with earnings outperformance … Read more
By Yuka Obayashi and Ritsuko Shimizu TOKYO (Reuters) – Nippon Steel Corp, the world’s No.5 steelmaker, expects its seamless pipe business will return to a profit this year from a loss last year as gas drilling activity is on the rise to meet higher demand for non-Russian fuel . “We are getting an increasing number … Read more
By MICHELLE CHAPMAN, AP Business Writer Computer chip and software maker Broadcom will spend about $61 billion to acquire the cloud technology company VMware, one of the biggest deals of the year despite an environment of rising inflation and economic uncertainty. The proposed deal comes just weeks after billionaire and Tesla CEO Elon Musk offered … Read more
By MATT OTT, AP Business Writer WASHINGTON (AP) — Fewer Americans applied for jobless aid last week with the number of Americans collecting unemployment benefits already near five-decade lows. Applications for unemployment benefits fell by 8,000 to 210,000 for the week ending May 21, the Labor Department reported Thursday. First-time applications are generally representative of … Read more
DAVOS, Switzerland (AP) — The mayor of Kyiv says he’s grateful to receive calls from the leader of other cities around the world pledging their support for rebuilding the Ukrainian capital. Speaking Thursday at the World Economic Forum’s meeting in Davos, Switzerland, Vitali Klitschko says the support is important but “first of all, right now, … Read more
By JOE McDONALD, AP Business Writer BEIJING (AP) — Asian stock markets were mostly lower Thursday after notes from the Federal Reserve’s latest meeting confirmed expectations of more interest rate hikes but held no surprises to rattle investors. Tokyo, Hong Kong and Sydney fell while Shanghai and Southeast Asian markets gained. Oil prices rose. Investors … Read more
By MARCY GORDON, AP Business Writer WASHINGTON (AP) — Twitter will pay a $150 million penalty and put in new safeguards to settle federal regulators’ allegations that the social platform failed to protect the privacy of users’ data over a six-year span. The Justice Department and the Federal Trade Commission announced the settlement with Twitter … Read more
DAVOS, Switzerland (AP) — The World Economic Forum and leaders of some of the world’s largest businesses are announcing the expansion of a partnership aimed at propelling green technologies. The First Movers Coalition includes businesses that make major purchases around green technologies and down their supply chains. The idea is to send market signals that … Read more
By KELVIN CHAN, AP Business Writer DAVOS, Switzerland (AP) — Soaring inflation. Russia’s war in Ukraine. Squeezed supply chains. The threat of food insecurity around the world. The lingering COVID-19 pandemic. The risks to the global economy are many, and it’s led to an increasingly gloomy view of the months ahead as corporate leaders, government … Read more
By JOE McDONALD, AP Business Writer BEIJING (AP) — Asian stock markets gained Wednesday after Wall Street sank on weak US housing sales and a profit warning by a prominent social media brand. Shanghai, Hong Kong and Seoul advanced while Tokyo declined. Oil prices rose more than $1 per barrel to stay above $110. Wall … Read more