By Katya Golubkova and Yuka Obayashi
TOKYO (Reuters) - JFE Holdings, parent of Japan's second-biggest steel maker, said on Thursday it will invest 400 billion yen ($2.8 billion) overseas over the next three years to drive growth, while suspending a blast furnace in western Japan to cut costs.
Under its new mid-term business strategy, JFE plans to reduce domestic steel production capacity to 21 million metric tons by March 2028 from 26... (continue reading...)
LONDON (Reuters) - Britain's King Charles and heir to the throne Prince William will lay wreaths in Westminster Abbey later on Thursday, the culmination of the country's four days of commemorations to mark the 80th anniversary of Victory in Europe Day.
The thanksgiving service in the Abbey will begin with a two-minute silence at 1100 GMT, which will also be observed across the country, to remember Nazi Germany's unconditional surrender, which took... (continue reading...)
(Reuters) - Tapestry on Thursday raised its 2025 revenue and profit forecasts for a third time this year, taking advantage of its limited exposure to the sweeping U.S. tariffs and higher full-price sale of its popular Coach handbags.
Its shares jumped 14% in premarket trading as steady demand for its Tabby, Brooklyn and Empire leather handbags among younger shoppers in North America and China helped the company beat third-quarter sales expectations.
... (continue reading...)By Che Pan and Brenda Goh
BEIJING (Reuters) -Semiconductor Manufacturing International Corp，China's largest contract chip maker, reported on Thursday a 161.9% year-on-year surge in first-quarter profit.
Profit attributable to owners of SMIC reached $188 million in the March quarter, but missed analysts' estimate of $222.4 million, according to LSEG data.
Revenue rose 28.4% to $2.2 billion, compared to market expectations of... (continue reading...)
By Pesha Magid, Maha El Dahan and Manya Saini
RIYADH/DUBAI (Reuters) - Saudi Arabia has held off formally joining the BRICS bloc of nations despite attending a meeting in Brazil last week, two sources said, finessing an issue that could upset Washington as Riyadh seeks to seal deals with its U.S. ally.
The issue of BRICS membership has been diplomatically sensitive for Saudi Arabia since it was first invited to join in 2023, and remains... (continue reading...)
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