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By Ariba Shahid KARACHI (Reuters) -The International Monetary Fund has asked for more time for negotiations with Pakistan over a deal that would unlock $1.1 billion in much-needed funds for the country, Secretary of Finance Hamed Sheikh said Thursday.Cash-strapped Pakistan, pushed to the limit by last year’s devastating floods, had been host to the talks …

IMF seeks more time to conclude Pakistan deal worth $1.1 billion Read More »

BRUSSELS (Reuters) -Korean Air Lines’ planned takeover of Asiana Airlines is expected to face a full-scale EU antitrust investigation because of concerns about the merged entity’s market power, people familiar with the matter said.    The proposed acquisition, announced in late 2020 and one of the first major deals in the aviation industry since the COVID-19 …

Exclusive-EU regulators to probe Korean Air, Asiana deal -sources Read More »

(Reuters) -Yahoo said on Thursday it plans to lay off more than 20% of its total workforce as part of a major restructuring of its ad tech division. The cuts will impact nearly 50% of Yahoo’s ad tech employees by the end of this year, including nearly 1,000 employees this week, the company said. Yahoo, which is …

Yahoo to lay off more than 20% of staff Read More »

By Svea Herbst-Bayliss and Dawn Chmielewski (Reuters) -Activist investor Nelson Peltz on Thursday ended his quest for a board seat at Walt Disney Co after Chief Executive Bob Iger laid out plans to fix the home of Mickey Mouse, cheering investors. “The proxy fight is over. This is a win for all shareholders,” a spokesperson …

Activist Peltz makes nice with Disney, ends board challenge Read More »

WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen said on Thursday that she wants China to move more quickly to support specific debt restructuring for developing countries, especially for Zambia, while leaving broader restructuring questions to separate talks. Yellen told an event at the Center for Strategic and International Studies in Washington that China has held …

Yellen says China should move faster on some debt restructurings Read More »

By Mimosa Spencer PARIS (Reuters) -L’Oreal posted 8.1% sales growth in the fourth quarter, a touch slower than in the previous three months, with firm demand in the United States and Europe helping to offset the dent from coronavirus disruptions in China. The cosmetics company, which sells Maybelline mascara and CeraVe skincare, recorded sales for …

U.S. demand boosts L’Oreal fourth-quarter sales, China weighs Read More »

PARIS (Reuters) – French carmaker Renault, which is revamping its 24-year old alliance with Nissan, said on Thursday the Japanese firm contributed 174 million euros ($187 million) to its own results in the fourth quarter. The total contribution for 2022 stood at 526 million euros, the highest amount since 2018 and up from 352 million …

Nissan’s 2022 contribution to Renault results highest in four years Read More »

By Leika Kihara TOKYO (Reuters) – A future Bank of Japan (BOJ) interest rate hike could affect the country’s sovereign debt rating if firms struggle to absorb rising funding costs, an official at S&P Global Ratings said on Thursday. Higher borrowing costs could also lead to a downturn in long-term economic growth, S&P said. Japanese …

S&P warns of possible economic blow, hit to Japan Inc from BOJ rate hike Read More »