By Aditi Shah NEW DELHI/SHANGHAI (Reuters) -General Motors (GM) said on Friday it had called off the sale of a shuttered Indian plant to China’s Great Wall Motor after they failed to obtain regulatory approvals, amid a tougher stance by New Delhi towards investments from Beijing. GM struck a deal in January 2020 to sell …
GM calls off plan to sell India car plant to China’s Great Wall Read More »
SEOUL (Reuters) – South Korea’s financial regulatory agency announced on Friday a series of measures aimed to stabilise the local stock market, saying they would take effect next week for three months. From next Monday, stock brokerage houses will be exempted from a requirement to hold 140% or more worth of stocks for credit provided …
S.Korea takes steps to stabilise local stock markets Read More »
By Liang-sa Loh TAIPEI (Reuters) -Taiwan’s economic fundamentals are good and investors should remain calm and rational, and not panic, Deputy Finance Minister Frank Juan told Reuters on Friday after a large fall in share prices including by top chipmaker TSMC. Taiwan’s benchmark stock index closed down 3.3%, making it the worst performing market in …
Taiwan urges investors to stay calm as stocks including TSMC fall Read More »
By Makiko Yamazaki TOKYO (Reuters) -Japan’s Government Pension Investment Fund (GPIF) reported on Friday an investment loss of $16 billion in January-March, the first quarterly negative return in two years, as higher U.S. interest rates and the war in Ukraine rattled financial markets. The world’s largest pension fund’s 1.1% negative return on its overall assets …
Japan’s GPIF logs first quarterly investment loss in two years Read More »
By Heekyong Yang SEOUL (Reuters) – Hyundai Motor Co’s unionised workers in South Korea vote on Friday to decide whether to go on a strike for the first time in four years over demands for higher wages and anger the management was prioritising overseas investment. If the union, one of the biggest in the country …
Hyundai Motor’s union in S.Korea vote on first strike in 4 years Read More »
By Foo Yun Chee BRUSSELS (Reuters) -EU states and lawmakers on Thursday agreed to rules to put a brake on state-backed foreign firms acquiring EU companies with annual turnover of 500 million euros ($520 million), underlining a more protectionist approach against a possible Chinese buying spree. The European Commission presented proposals for the new takeover …
EU agrees to curb takeovers by state-backed foreign firms Read More »
(Reuters) -Costco Wholesale Corp said on Thursday it bought the 45% stake it did not already own in its Taiwan joint venture, Costco-Taiwan, for $1.05 billion. The deal, executed through a unit, is expected to add to the company’s earnings per share by 1% to 1-1/2%, Costco said in a statement. The membership-only retailer operates …
Costco buys remaining stake in Taiwan joint venture for $1.05 billion Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices sank around 3% on Thursday as OPEC+ confirmed it would only increase output in August as much as previously announced despite tight global supplies, but left the market wondering about future output. Brent crude futures for September delivery fell $3.42, or 3%, to settle at $109.03 per …
Oil falls 3% on uncertainty over future OPEC+ output, recession fears Read More »
By Hyunjoo Jin and Akash Sriram SAN FRANCISCO (Reuters) -Tesla Inc is expected to end its nearly two-year-long run of record quarterly deliveries as a prolonged COVID-related shutdown in Shanghai hit its production and supply chain, highlighting the risks of its reliance on China. While Tesla Chief Executive Elon Musk has been pursuing the acquisition …
Tesla’s run of record deliveries may be reaching the end of the road Read More »
By Marc Jones LONDON (Reuters) – Credit rating agency Fitch downgraded its view on sovereign debt on Thursday on concerns about the rise in global borrowing costs and the potential for a flurry of new defaults. Fitch, which monitors over 100 countries, said the Ukraine-Russia war was stoking problems such as higher inflation, trade disruptions …
