(Reuters) -The union representing employees of United States Steel on Tuesday said it would not support Japanese firm Nippon Steel’s draft agreement to gain support for its takeover of the U.S. company. In December, Nippon agreed to buy U.S. Steel for roughly $15 billion but the deal faces an uphill battle to approval amid bipartisan …
U.S. Steel union rejects Nippon Steel’s appeal for takeover support Read More »
By Roushni Nair and Rishav Chatterjee (Reuters) -Singapore Telecommunications (Singtel) on Wednesday ruled out any impending deal to sell its Australian mobile network operation Optus following reports that talks for a potential stake divestment had fallen off. Southeast Asia’s largest telecom operator, Singtel sought a trading halt after its shares sank 3.15% to S$2.46. The …
Singtel rules out impending deal to sell Australian unit Optus Read More »
By Scott Murdoch and Julie Zhu SYDNEY (Reuters) – Zeekr, the premium electric vehicle (EV) brand of Chinese automaker Geely , has restarted stalled plans to raise up to $500 million in a New York initial public offering (IPO), according to two sources with direct knowledge of the matter. The company in November put listing …
China’s Zeekr renews plans to raise up to $500 million in U.S. IPO, sources say Read More »
TOKYO (Reuters) – Japanese trading house Itochu on Wednesday forecast a 10% rise in its net profit to 880 billion yen ($5.8 billion) this financial year, from an estimated 800 billion yen a year earlier, and expected a shareholder return ratio of 50%. Unveiling its new management plan for the 2024/25 financial year that started …
Japanese trading house Itochu expects 10% higher profit this financial year Read More »
By Leika Kihara TOKYO (Reuters) – Japan’s economic output recovered to full capacity for the first time in about four years in the October-December quarter, a positive sign that may allow the central bank to raise interest rates again. Japan’s output gap, which measures the difference between an economy’s actual and potential output, stood at …
Japan’s economy recovers to full capacity, keeps alive BOJ rate hike prospects Read More »
(Reuters) -The U.S. Cyber Safety Review Board said on Tuesday a targeted Chinese hack of top government officials’ emails last year was “preventable”, faulting technology giant Microsoft for its cybersecurity lapses and a deliberate lack of transparency. The board said in its report that it identified a series of decisions taken by Microsoft that had …
Cyber board says Chinese hack of US officials was ‘preventable’ Read More »
By Herbert Lash and Caroline Valetkevitch NEW YORK (Reuters) -The three major U.S. stock indexes fell about 1% on Tuesday and the yield on benchmark 10-year Treasuries hit a four-month high after data showing strong labor demand raised the prospect that the Federal Reserve could delay cutting interest rates. The dollar also hit a four-month …
Stocks fall, yields climb as rate cut outlook takes a hit Read More »
By David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen will return to China this week to continue her economic dialogue with top Chinese officials amid a new emphasis on the threat to global economies from the Asian superpower’s growing excess industrial capacity, the Treasury Department said on Tuesday. The April 3-9 trip, which will …
Yellen to return to China, press counterparts on excess factory capacity threat Read More »
WASHINGTON (Reuters) – TikTok and its ownership came up as a topic of conversation in the call between U.S. President Joe Biden and his Chinese counterpart Xi Jinping on Tuesday, the White House said, adding Biden raised American concerns about the app’s ownership. In March, the U.S. House of Representatives overwhelmingly voted to pass a …
Biden reiterated US concerns over TikTok in call with Xi, White House says Read More »
By Simon Jessop and Virginia Furness LONDON (Reuters) – A global initiative to accelerate electric vehicle uptake has received a $100 million funding boost from the IKEA Foundation to help developing countries bypass gasoline-driven vehicles and go straight to the greener alternative. The Drive Electric Campaign, whose partners also include the European Climate Foundation, said …
IKEA Foundation backs emerging market EV push with $100 million grant Read More »
