Business

Mizuho may face $90 million loss from Archegos, Nikkei says

Japanese financial firm Mizuho Financial Group Inc may face a loss of 10 billion yen ($90 million) from deals with Archegos Capital Management, the Nikkei newspaper reported on Thursday. The Financial Times earlier reported that Mizuho had conducted an investigation into its possible losses related to the U.S.-based fund, and its potential losses could be […]

Business

Deutsche Telekom confirms outlook at annual general meeting

Deutsche Telekom confirmed its outlook for 2020 on Thursday ahead of its annual general meeting where investors are expected to call for a review of its dividend policy in light of last year’s strong results. The Bonn-based telecoms group confirmed that it expected its adjusted core profit to rise to 37 billion euros ($43.4 billion)this […]

Business

Global chip supply chain increasingly vulnerable to massive disruption, study finds

A new study from a U.S. industry group found that the global semiconductor supply chain has become increasingly vulnerable to natural disasters and geopolitical disruptions because suppliers have become more concentrated in distinct regions. The report comes amid a global chip shortage that started with overbooked factories in Taiwan late last year, but has since […]

Business

Sodexo’s cautious guidance take shine off profitability beat

French catering and food services group Sodexo reported on Thursday a large profit margin beat but cautious second-half forecasts, flagging short-term volatility in view of a resurgence in coronavirus infections. The Paris-based firm posted an underlying operating profit margin of 3.1% for the six-month period through February, beating its own raised forecasts of at least […]

Business

Chocolate-makers burnish social-media data to get a hop on Easter sales

Major chocolate makers, including Hershey and Mondelez, say they’ve turned to social media platforms like Pinterest to look for clues on which products might sell best during the pandemic U.S. Easter season. About a month before Easter, people posted images of do-it-yourself Easter cookie kits and Easter baskets on Pinterest, according to Hershey Co’s research. […]

Business

Ford and Mahindra to end collaboration on all projects in India

Ford Motor Co and Mahindra & Mahindra will not collaborate on any project they had agreed to as part of their abandoned joint venture in India, the companies said. Ford and Mahindra had proposed a joint venture to develop at least three sport-utility vehicles (SUVs) for India and emerging markets, as well as share suppliers, […]

Business

TSMC to invest $100 billion over 3 years to meet chip demand

Contract chipmaker TSMC said on Thursday it plans to invest $100 billion over the next three years to increase capacity at its plants, days after Intel Corp announced a $20 billion plan to expand its advanced chip making capacity. Taiwan Semiconductor Manufacturing Co Ltd, whose customers include Apple Inc and Qualcomm Inc, had already flagged […]