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  • Business
    The Canadian Press

    Stock market today: Asian shares gain despite Wall Street's tech-led retreat

    Asian shares advanced on Thursday even after sinking technology stocks sent Wall Street lower in the S&P 500's worse losing streak since the start of the year. U.S. futures were lower, while oil prices gained. Tokyo's Nikkei 225 climbed 0.3% to 38,079.70 and the Hang Seng in Hong Kong gained 1.3% to 16,468.07. The Shanghai Composite index added 0.6% to 3,089.02. South Korea's Kospi led the region's gains, surging 2.2% to 2,642.02. In Australia, the S&P/ASX 500 rose 0.4% to 7,638.10. On Wednesday

  • Business
    Bloomberg

    TSMC Outlook Beats Estimates After AI Demand Fuels Business

    (Bloomberg) -- Taiwan Semiconductor Manufacturing Co. delivered a better-than-projected revenue outlook and stuck with plans to spend as much as $32 billion in 2024, shoring up expectations of sustained growth in AI demand. Most Read from BloombergDubai Grinds to Standstill as Cloud Seeding Worsens FloodingElon Wants His Money BackRed Lobster Considers Bankruptcy to Deal With Leases and Labor CostsTesla Asks Investors to Approve Musk’s $56 Billion Pay AgainSingapore Loses ‘World’s Best Airport’

  • Business
    Reuters

    ECB 'crystal clear' on June rate cut, de Guindos says

    The European Central Bank has made it "crystal clear" that interest rates could be cut in June but has also been firm that policy decisions beyond that remain up in the air, ECB Vice President Luis de Guindos said on Thursday. The ECB put a June rate cut on the table last week and has spent the past week reinforcing that guidance, despite rising oil prices, a weaker euro and bets that its biggest peer, the U.S. Federal Reserve, would delay its own rate cuts. "I think that we have been crystal clear: if things continue as they have been evolving lately, in June we'll be ready to reduce the restriction of our monetary policy stance," de Guindos told a parliamentary hearing in Brussels.

  • Business
    Reuters

    Bosch flags further cost cuts after giving 'subdued' outlook for 2024

    Bosch, the world's largest automotive supplier, on Thursday warned of further cost cuts and staff reductions, forecasting stagnating vehicle production that will keep a lid on profit margins in 2024. "For 2024, we aren't expecting any economic tailwind," Chief Financial Officer Markus Forschner said at the group's annual press conference. "Restructuring and process improvements will also have a negative impact at first, with their positive effect coming only after a delay."