By Robert Harvey and Natalie Grover LONDON (Reuters) – Plentiful supplies of some of the biggest crude grades are limiting the impact on benchmark oil futures prices of conflict in the Middle East, according to analysts and traders. Brent crude futures briefly topped $92 a barrel last week, the highest since October. While that’s bad …
Analysis-Ample oil supplies limit impact of MidEast flare-up on prices Read More »
SHANGHAI (Reuters) – HHLR Management, part of Chinese investment giant Hillhouse’s public investment arm, raised its stake in solar energy firm LONGi Green Energy Technology to 5% on Friday as it moves to reverse share selling that had invited a regulatory probe, LONGi said. HHLR was placed under investigation last November for a possible violation …
China’s Hillhouse moves to rebuild stake in LONGi following probe on selling Read More »
By Sophie Yu and Brenda Goh SHANGHAI (Reuters) – Lufthansa Airlines’ capacity on routes to and from China has returned to 70% of the levels before the COVID-19 pandemic and it is evaluating adding new routes to the country, CEO Jens Ritter said on Friday. However, Ritter told reporters in Shanghai that the company hoped …
Lufthansa evaluates new China routes amid slow recovery in capacity Read More »
By Kane Wu HONG KONG (Reuters) -Private equity firm Blackstone Inc is nearing a deal to sell its controlling stake in South Korean wholesale drug distributor Geo-Young to North Asian buyout fund MBK Partners for over $1 billion, three sources said. Blackstone is in final negotiations with Seoul-headquartered MBK about the sale and signing of …
Blackstone nears deal to sell S.Korean pharma wholesaler to MBK Partners, sources say Read More »
TOKYO (Reuters) -Nissan Motor slashed its annual operating profit estimate by 14.5% on Friday, citing lower-than-expected vehicle sales and other factors. Japan’s third-largest automaker by volume now estimates an operating profit of 530 billion yen ($3.43 billion) instead of 620 billion yen for the year that ended in March. Net profit is now estimated at …
Nissan cuts annual operating profit estimate by 14.5% on lower sales Read More »
SHANGHAI (Reuters) – China is widely expected to leave benchmark lending rates unchanged on Monday, a Reuters survey showed, as encouraging first quarter economic data reduces the urgency for further monetary stimulus to aid a fragile recovery. A weakening yuan also continues to restrict the headroom available for Beijing to easy policy. The loan prime …
China set to keep lending benchmark LPRs unchanged in April Read More »
By Andrew Silver SHANGHAI/SUZHOU, China (Reuters) – China’s vaccine developers stuck with unused mRNA COVID shots and idle manufacturing plants are pursuing new targets for the novel messenger RNA technology, but they face a tough path, crimped by a lack of revenue. Three Chinese companies – Walvax Biotechnology , CSPC Pharmaceutical Group and Stemirna Therapeutics …
China’s drugmakers can’t sell mRNA shots but haven’t quit yet Read More »
TAIPEI (Reuters) -TSMC’s Taipei-listed shares tumbled 6.7% on Friday following the company’s first-quarter earnings report in which it dialled back its expectations for chip sector growth and did not revise up its capital spending plans, contrary to expectations. Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest contract chipmaker, forecast second-quarter sales may rise as much …
TSMC’s shares slide nearly 7% in Taipei on global chip outlook concerns Read More »
By Karin Strohecker WASHINGTON (Reuters) – Pakistan hopes to agree the contours of a new International Monetary Fund loan in May, Finance Minister Muhammad Aurangzeb told Reuters, and has kicked off talks with ratings agencies to lay the groundwork for a return to international debt markets. The country’s current $3 billion arrangement with the fund …
Pakistan aims to agree outline of new IMF loan in May – Finance Minister Read More »
By Pritam Biswas and Mehnaz Yasmin (Reuters) -American financial institutions facilitated investments worth billions of dollars in index funds that included several blacklisted Chinese companies, according to a bipartisan House Committee investigation. The firms funneled $6.5 billion last year to some 63 Chinese companies flagged by the U.S. government, the probe report unveiled on Thursday …
US firms channeled funds to blacklisted Chinese companies, says House panel Read More »
