Markets

REUTERS: Wells Fargo & Co reported a 16.4 percent jump in quarterly profit on Friday, as the lender reaped the benefits of its aggressive cost-cutting efforts. Noninterest expenses fell 7.5 percent to US$13.9 billion in the first quarter from a year earlier. The bank said it was on track...

Germany's Merck KGaA said it signed a takeover agreement with target Versum Materials for a price of US$53 per share after Versum walked away from a prior merger agreement with rival Entegris.

CEO Glenn Mohammed says it faced challenging times since it launched in December 2017, including customers who abused their data limits and not paying their subscriptions.

Alibaba Group founder and billionaire Jack Ma has defended the grueling overtime work culture at many of China's tech companies, calling it a "huge blessing" for young workers.

PNC Financial Services Group Inc's first-quarter profit met analysts' estimates on Friday, as a rise in expenses and provision for credit losses overshadowed growth in interest income and loans.

KUALA LUMPUR: After months of negotiation, Putrajaya and Beijing have agreed to proceed with the East Coast Rail Link (ECRL) at a cost of RM44 billion (US$10.6 billion), slashing more than 30 per cent off the initial projected cost for a shorter route. According to a statement issued by Malaysia’s...

TOKYO: Apple supplier Japan Display said on Friday (Apr 12) it has signed a long-awaited deal under which it will receive a ¥232 billion (US$2.1 billion) bailout that will give a Chinese-Taiwanese group a near-majority stake in the firm. The group which includes Taiwanese flat screen maker TPK ......

The chairman of Fiat Chrysler John Elkann said on Friday he was ready for bold and creative decisions to help build a solid and attractive future for the carmaker.

Deutsche Bank's current Chief Executive Christian Sewing and Chairman Paul Achleitner would continue to lead the bank if it merges with Commerzbank, a German magazine reported on Friday.

SHANGHAI: US electric vehicle (EV) maker Tesla on Friday (Apr 12) said it has started taking orders in China for a lower-priced version of its Model 3 car, as it seeks to expand its lineup and boost sales in the world's biggest EV market. The California-based firm said in a statement that...