Bloomberg Taiwan Semiconductor Manufacturing Co. raised its sales outlook for the year after quarterly earnings jumped 45%, helped by solid demand for chips used in everything from smartphones to cars. Annual revenue in dollar terms will top the previous outlook for as much as 20%-plus growth, the world’s biggest contract manufacturer of chips said. Sales will rise to $17.6 billion …

  VIENNA / WAM The Opec Fund for International Development (Ofid) signed a $100 million loan agreement with the government of Morocco to help build an inclusive financial sector as part of broader efforts to modernise the economy and support the kingdom’s recovery from the Covid-19 pandemic. Under the “Financial and Digital Inclusion Programme”, co-financed with the World Bank, the …

Bloomberg A group of Gazprom PJSC companies temporarily under the control of the German government will not return to the ownership of the Russian gas giant, according to the group’s trading unit. Gazprom views the separation as permanent and has already asked the companies to stop using its branding and trademarks, London-based Gazprom Marketing & Trading said in an email …

  Bloomberg French energy giant TotalEnergies SE will face calls to take a tougher stance on climate at its annual shareholders’ meeting next month. A group of 11 investors have filed a resolution demanding the company set and publish climate goals consistent with those of the Paris Agreement. While the shareholders represent a small portion of Total’s capital — about …

Bloomberg Tesco Plc warned profit will be squeezed this year as the UK’s biggest supermarket chain battles to keep prices low for consumers facing a cost of living crisis. The stock fell to its lowest level in more than six months. The grocer, along with rivals like Wm Morrison Supermarkets, is grappling with inflation that soared to a 30-year high …

  Bloomberg LVMH SE posted strong revenue growth as the world’s largest seller of luxury goods defied disruptions from the war in Ukraine and the resurgence of Covid-19 in China, a potential harbinger for the rest of the industry. First-quarter sales advanced 23% on an organic basis to 18 billion euros ($19.5 billion), led by LVMH’s biggest unit, fashion and …

  Bloomberg India barred 90 pilots from flying Boeing Co 737 Max jets after finding problems with a simulator they’d trained on to operate the aircraft, which the country cleared to fly again in August following a global grounding. A routine check of the simulator revealed deficiencies, and an investigation is underway to discover what caused them, Arun Kumar, chief …

  Bloomberg Walmart named PayPal Holdings Chief Financial Officer as its new finance chief, turning to a company outsider as it seeks to build a financial-technology venture and a membership program. Rainey will start his new job June 6, Walmart said in a statement. A veteran of United Airlines who jumped to PayPal in 2015, Rainey will replace Brett Biggs, …

Bloomberg Online prices in the US rose 3.6% last month from a year earlier, matching February’s record high, according to data compiled by Adobe Inc. From groceries to clothes and pet products, 14 of the 18 categories tracked by Adobe recorded price increases since March 2021. Online inflation, first observed in June 2020 after years of declines, has now persisted …

Bloomberg The average price of a Toronto home dipped in March as a slight cooling of activity allowed the pace of new listings to close the gap with sales, even as the market remained heavily tipped in sellers’ favour compared with historic standards. The average home price in Canada’s largest city dipped 2.6% to just under C$1.3 million in March …