By David Gaffen NEW YORK (Reuters) – Oil prices surged nearly 3% on Wednesday, bolstered by record U.S. crude exports and as the nation’s refiners operated at higher-than-usual levels for this time of year. The dollar’s weakness added support, as the greenback’s strength of late has been a notable factor inhibiting oil market gains. Brent …
Weak dollar, big U.S. crude exports buoy oil markets Read More »
(Reuters) -Chijet Motor Co on Wednesday agreed to go public in the United States through a merger with a blank-check company that gave the China-based automaker a 37% lesser valuation than what it had secured in another deal that was terminated. The deal with special purpose acquisition company (SPAC) Jupiter Wellness Acquisition Corp values Chijet …
China’s Chijet to merge with new SPAC at lower valuation than prior deal Read More »
By Karen Freifeld (Reuters) -Seagate Technology Holdings said in a filing on Wednesday the U.S. government has warned the company that it may have violated export control laws by providing hard disk drives to a customer that a source familiar with the situation identified as Huawei Technologies. Reuters was the first to report the disclosure …
Exclusive-U.S. alleges Seagate broke export rules to sell Huawei hard drives -source Read More »
NEW DELHI (Reuters) – The Indian unit of Japan’s Sony and Zee Entertainment Enterprises have agreed to divest three Hindi language channels as part of their deal to create a $10-billion TV behemoth, according to an order by India’s competition regulator. The plan became public on Wednesday as the Competition Commission of India released a …
Zee, Sony unit to divest three channels before India merger Read More »
By Sergio Goncalves LISBON (Reuters) -China’s Fosun International said on Wednesday that its 30% stake in Portugal’s largest listed bank Millennium bcp is not for sale after reports that it could sell assets in the country to cut its debt. Fosun, controlled by billionaire entrepreneur Guo Guangchang, has been one of the most aggressive foreign …
China’s Fosun says stake in Portugal’s Millennium bcp not for sale Read More »
By Jorgelina do Rosario LONDON (Reuters) – Emerging market investors who avoided Chinese shares this year have seen less pain than those with portfolios exposed to the gamut of EM stocks, a trend exacerbated by this week’s selloff. The iShares Emerging Markets excluding China ETF has fallen by 25% so far this year, its worst …
Investors avoiding China stocks face less pain in bearish year for markets Read More »
(Reuters) – Singapore’s Temasek Holdings said on Wednesday President Tan Chong Lee will resign to take up the role as chief executive officer at its fund management firm 65 Equity Partners. In a slew of management changes announced by the investment giant, Leong Wai Leng will step down as the chief financial officer after 16 …
Temasek shifts president, CFO in management shuffle Read More »
By Kaori Kaneko and Tetsushi Kajimoto TOKYO (Reuters) -Japan will likely spend $170 billion in a scheduled fresh stimulus package to cushion the economic blow from rising raw material costs, Kyodo news agency reported, a move that would add to the country’s already huge debt pile. The massive spending, which is likely to be finalised …
Japan eyes $170 billion spending to ease inflation pain-Kyodo Read More »
BANGKOK (Reuters) – Thailand’s exports rose more than expected in September, helped by increased global activity, an improved supply of components and a weak baht currency, but exports to China continued to fall, the commerce ministry said on Wednesday. Exports, a key driver of Thai growth, rose 7.8% in September from a year earlier, compared …
Thai Sept exports top forecast but Chinese shipments fall Read More »
By Emily Chow and Isabel Kua SINGAPORE (Reuters) – Thailand expects to burn coal for power for longer after it extended the lifespans of some plants to cope with record high natural gas prices, the assistant secretary general of its Energy Regulatory Commission (ERC) said on Wednesday. The country has intensified its search for alternative …
Thailand to rely on coal for power longer amid record gas prices Read More »
