30 April

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Exclusive: Bundesbank expects chip bottlenecks in German industry to worsen in Q2 By Reuters

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By Michael Nienaber BERLIN (Reuters) - The chip supply bottlenecks in German industry will likely worsen in the second quarter and lead to an overall weaker recovery of Europe's largest economy this year, the Bundesbank's chief economist told Reuters on Friday. Shortages of semiconductors and other industrial components have led to production cuts in manufacturing, forcing executives and policymakers to rethink supply lines and try to reduce reliance on a handful of Asian and U.S. suppliers. Automakers and electronics producers are being hit hard by delivery delays of chips, caused by factory closures during the first...

30 April

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World shares near record high on Fed, earnings, but Asia slips By Reuters

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By Hideyuki Sano TOKYO (Reuters) - World stocks held near a record high as strong U.S. economic data, robust corporate earnings and the Federal Reserve's commitment to continue supporting the economy fuelled investors' appetite for risk. Asian stocks had less luck, with MSCI's ex-Japan index losing 0.6%, following a softer-than-expected survey on China's manufacturing. "China's economic recovery in January-March was strong but there are some doubts over whether you can take it at face value," said Wang Shenshen, senior strategist at Mizuho Securities. Chinese tech giant shares listed in Hong Kong also buckled as Beijing summoned...

30 April

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Alibaba freezes executive pay rises amid China’s big- tech crackdown -sources By Reuters

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BEIJING (Reuters) -Chinese e-commerce giant Alibaba (NYSE:BABA) Group Holding has frozen pay raises for senior executives in 2021 and is instead giving junior staff bigger salary increases, sources said, in an effort to preserve its workforce amid a regulatory clampdown. Hundreds of top-tier executives at Alibaba are not entitled to salary hikes this year unless they performed extraordinarily, four sources familiar with the matter said. "Talent is Alibaba Group's most important asset. We have a robust and competitive compensation system that reflects our priorities in cultivating our next generation of talents," Alibaba said in...

30 April

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Bank of Ireland Q1 income performance stronger than expected By Reuters

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DUBLIN (Reuters) - Bank of Ireland reported stronger-than-expected income for the first quarter on Friday noting it had seen limited adverse impact on customer loans from longer lockdowns in its home market and its smaller UK operations. Ireland's largest bank by assets reported stable net interest income during lockdowns, a better outcome than expected, while its capital levels rose and its costs fell by 7%. The bank had experienced no notable change in loan losses since December, it said in a trading update. The Irish economy has weathered a third and longest lockdown far better...

30 April

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Japan shares lower at close of trade; Nikkei 225 down 0.83% By Investing.com

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Investing.com – Japan equities were lower at the close on Friday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors propelled shares lower. At the close in Tokyo, the Nikkei 225 lost 0.83%. The biggest gainers of the session on the Nikkei 225 were CyberAgent Inc (T:4751), which rose 15.28% or 298.0 points to trade at 2248.0 at the close. Fujitsu Ltd. (T:6702) added 7.50% or 1215.0 points to end at 17405.0 and Sojitz Corp. (T:2768) was up 6.19% or 19.0 points to 326.0 in...

30 April

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French group Safran maintains forecasts as Q1 sales fall 38% By Reuters

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PARIS (Reuters) - French aero engine and equipment maker Safran (PA:SAF) on Friday reported a 38% drop in first-quarter revenues, but maintained full-year forecasts that include a narrower 2-4% drop in sales. March airline traffic showed signs of improvement after stalling in January and February. It remains weak in Europe and Asia outside China and uncertainty remains over the speed of recovery in medium-haul airplane capacity, the company said. Safran, which has warned of a delayed recovery to the market for engine services, said its widely watched civil aftermarket revenue fell 53.4% in dollar...

30 April

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BNP Paribas beats expectations in Q1 as equity trading rebounds By Reuters

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PARIS (Reuters) - France's BNP Paribas (PA:BNPP) on Friday reported a better than expected first-quarter profit, helped by lower provisions for pandemic-related bad loans and a rebound in its equity trading business. The eurozone's biggest listed lender said net profit was up 37.9% in the quarter at 1.77 billion euros, beating a mean forecast for 1.20 billion from a poll of analysts compiled by Refinitiv. Revenue was up 8.6% in first quarter at 11.83 billion euros, above the 11.2 billion expected by analysts. In its corporate and investment banking activities, revenue rose by 24.3%,...

30 April

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Credit Suisse board member Gottschling to exit after Greensill, Archegos losses By Reuters

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ZURICH (Reuters) - Credit Suisse (SIX:CSGN) board member and risk committee chairman Andreas Gottschling will not stand for re-election, the Swiss bank said on Friday, as the crisis over Greensill and Archegos claims more members of the lender's leadership. Gottschling is leaving after proxy adviser Glass Lewis as well as some of the bank's big investors opposed his re-election to the board at the shareholders meeting due to be held on Friday, saying he needed to be held accountable for investments made by the bank that imploded this year. Credit Suisse is raising...

30 April

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Amazon Q1 Results Beat Street as Revenue Jumps 44% By Investing.com

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By Yasin Ebrahim Invsting.com - Amazon.com reported Thursday first-quarter results that topped analysts estimates, supported by a surge e-commerce growth. Amazon.com (NASDAQ:AMZN) shares gained 5% in after-hours trade following the report. Amazon reported Q1 EPS of $15.79 on revenue of $108.5 billion, beating estimates of $9.49 on revenue of $104.49 billion. That was above guidance for net sales of between $100.0 billion and $106.0 billion, or growth between 33% and 40% year-on-year. Net sales in North America rose to $64.37 billion from $46.13 billion in the the prior-year period. Amazon Web Services, its fast-growing cloud revenue segment,...

30 April

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Western Digital Earnings, Revenue beat in Q3 By Investing.com

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Western Digital reported on Thursday third quarter earnings that beat analysts' forecasts and revenue that topped expectations. Western Digital announced earnings per share of $1.02 on revenue of $4.14B. Analysts polled by Investing.com anticipated EPS of $0.6802 on revenue of $3.97B. Western Digital shares are up 26% from the beginning of the year and are trading at $75.00 , down-from-52-week-high.They are outperforming the S&P 500 which is up 12.13% from the start of the year. Western Digital shares gained 5.46% in after-hours trade the report. Western Digital follows other major Technology sector earnings this...

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Exclusive: Bundesbank expects chip bottlenecks in German industry to worsen in Q2 By Reuters

World shares near record high on Fed, earnings, but Asia slips By Reuters

Alibaba freezes executive pay rises amid China’s big- tech crackdown -sources By Reuters

Bank of Ireland Q1 income performance stronger than expected By Reuters

Japan shares lower at close of trade; Nikkei 225 down 0.83% By Investing.com

French group Safran maintains forecasts as Q1 sales fall 38% By Reuters

BNP Paribas beats expectations in Q1 as equity trading rebounds By Reuters

Credit Suisse board member Gottschling to exit after Greensill, Archegos losses By Reuters

Amazon Q1 Results Beat Street as Revenue Jumps 44% By Investing.com

Western Digital Earnings, Revenue beat in Q3 By Investing.com

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