By Chibuike Oguh, Kane Wu and Anirban Sen (Reuters) -Carlyle Group Inc Chief Executive Kewsong Lee has abruptly stepped down months before the scheduled end of his five-year contract, raising questions about succession plans at the private equity firm. Washington, D.C.-based Carlyle said it mutually agreed with Lee not to renew his contract, which was …
Carlyle CEO Kewsong Lee steps down in abrupt early departure Read More »
(Reuters) -Kia Corp’s Russian subsidiary launched a voluntary recall of more than 100,000 cars on Monday due to a possible airbag malfunction, a government regulator announced. The recall affects Kia Rio models assembled between 2013 and 2018 at the Hyundai Motor Group factory in the Russian city of St Petersburg, Russia’s federal agency for technical …
By Sam Nussey TOKYO (Reuters) – SoftBank Group Corp is planning to cut headcount at its flagship Vision Fund investing arm, CEO Masayoshi Son said on Monday, after a crash in the value of its portfolio pushed his conglomerate to a record quarterly net loss. Vision Fund, which upended the world of venture capital with …
SoftBank plans Vision Fund job cuts after record net loss Read More »
By Yantoultra Ngui SINGAPORE (Reuters) – Malaysia’s second-richest man Quek Leng Chan is weighing options for his stake in Hong Leong Bank Bhd, including a merger, two sources with knowledge of the matter said, in a move that could trigger wider consolidation in the sector.Quek, 80, is also exploring the possibility of reducing his stake …
Exclusive-Malaysia’s Hong Leong Bank chairman weighs options for stake in bank – sources Read More »
(Reuters) -Elon Musk said that if Twitter Inc. could provide its method of sampling 100 accounts and how it confirmed that the accounts are real, his $44 billion deal to buy the company should proceed on its original terms. “However, if it turns out that their SEC filings are materially false, then it should not,” …
Musk says Twitter deal should go ahead if it provides proof of real accounts Read More »
By David Shepardson WASHINGTON (Reuters) – The heads of chipmakers GlobalFoundries and Applied Materials and carmakers Ford Motor and General Motors Co were to meet at a closed-door summit with U.S. government officials on Monday to discuss administration plans to invest in semiconductors. On Tuesday, President Joe Biden will sign legislation to subsidize the U.S. …
Chip and carmaker CEOs meet ahead of Biden signing Read More »
SHANGHAI (Reuters) – China should adopt autonomous vehicles in passenger transport with care, the country’s Ministry of Transportation said in drafted rules to regulate the self-driving industry. The ministry will encourage the use of autonomous vehicles as taxis in easily controlled scenarios in low traffic situations, according to a draft seeking public advice published on …
China drafts rules on use of self-driving vehicles for public transport Read More »
(Corrects Nomura’s Charnon Boonnuch comment in 14th paragraph to “demand-pull” not “demand pool”, in 15th paragraph to “risks of” not “resource”) By Anant Chandak BENGALURU (Reuters) -Thailand’s central bank will raise interest rates for the first time in around four years from a record low on Aug. 10 as the central bank shifts its focus …
Thai central bank to raise rates on August 10 as inflation surges Read More »
By Scott Murdoch and Julie Zhu HONG KONG (Reuters) -China Tourism Group Duty Free Corp is aiming to launch its Hong Kong listing worth up to $2.74 billion on Friday in what would be the city’s largest share sale in 2022, said two sources with direct knowledge of the matter. The Shanghai-listed company, which has …
China Tourism plans to launch Hong Kong listing on Friday – sources Read More »
By Chen Aizhu and Muyu Xu SINGAPORE (Reuters) – China is set to begin another round of tax inspections on independent refiners that will last months, adding to pressure on refinery operations which are already running well below capacity, five trading and refinery executives told Reuters. The world’s top crude oil importer has been clamping …
China set for new tax probe on independent oil refiners – sources Read More »
