TIRANA (Reuters) -Albania on Saturday announced a one-year ban on TikTok, the popular short video app, following the killing of a teenager last month that raised fears over the influence of social media on children. The ban, part of a broader plan to make schools safer, will come into effect early next year, Prime Minister …
Albania bans TikTok for a year after killing of teenager Read More »
GUANGZHOU, China (Reuters) – Nio unveiled a lower-cost brand named Firefly on Saturday that it touted as a rival to Mercedes’ Smart and BMW’s Mini in the Chinese electric vehicle maker’s latest bid to broaden its customer base and boost sales. CEO William Li announced the new brand at an annual company event in Guangzhou …
China’s Nio introduces Firefly brand to take on BMW’s Mini Read More »
TOKYO (Reuters) -Honda and Nissan are considering producing vehicles in one another’s factories as part of their plan to deepen ties and potentially merge, Japan’s Kyodo news agency said on Saturday. Honda will consider supplying hybrid vehicles to Nissan as part of the plan, the report said, without citing the source of the information. A …
Honda and Nissan consider mutual production of vehicles, Kyodo reports Read More »
SEOUL (Reuters) – North Korean leader Kim Jong Un called to step up development of the country’s industrial production in regions outside Pyongyang to strengthen rural economies, state media KCNA said on Saturday. Kim called for the modernisation of regional manufacturing facilities, improvements in agriculture, and “to come up with clear results every year, regardless …
North Korea’s Kim Jong Un calls for stronger rural economies, state media says Read More »
By David Shepardson WASHINGTON (Reuters) -The U.S. Commerce Department said on Friday it was finalizing an award of up to $4.745 billion to South Korea’s Samsung Electronics and up to $1.61 billion for Texas Instruments to expand chip production. The department also finalized an award of up to $407 million to help fund Amkor Technology’s …
US finalizes up to $6.75 billion in chips awards for Samsung, Texas Instruments, Amkor Read More »
By Alexandra Alper WASHINGTON (Reuters) -Nippon Steel alleges the White House had “impermissible undue influence” over a national security review of its $14.9 billion bid for U.S. Steel and threatened legal action if the deal is blocked. The accusation was made in a Dec. 17 letter, signed by counsel for Nippon Steel and U.S. Steel …
By Sheila Dang and Krystal Hu (Reuters) – U.S. billionaire businessman Frank McCourt is crafting a fundamental overhaul of TikTok’s business model as part of a plan to bid for the Chinese-owned short-form video app, he told Reuters. McCourt, who formerly owned the Los Angeles Dodgers baseball team, said he has received verbal funding commitments …
Potential TikTok bidder seeks a CEO, prepares business overhaul Read More »
(Reuters) – Hong Kong-listed special purpose acquisition firm TechStar Acquisition Corp said on Friday it is set to merge with Seyond Merger Sub, a special purpose acquisition unit of Seyond Holdings, in a SPAC transaction. TechStar said in a statement that the merged entity would become a unit of Seyond Holdings, with the negotiated value …
HK firm TechStar Acquisition enters SPAC merger deal with Seyond unit Read More »
By Andres Gonzalez and Oliver Hirt LONDON (Reuters) – French cosmetics giant L’Oreal is in final talks to acquire the South Korean skincare business Gowoonsesang Cosmetics owned by Mibelle Group, a unit of Swiss retailer Migros, according to two sources with knowledge of the deal. An announcement could be made as soon as on Monday, …
L’Oreal in talks to buy Migros’ South Korean cosmetic unit, sources say Read More »
(Reuters) – Credit ratings agency Fitch on Friday upgraded Sri Lanka’s long-term foreign-currency default rating to ‘CCC+’ from ‘restricted default’ (RD) following approval by creditors of the country’s $12.55 billion debt overhaul earlier this week. The island nation’s bondholders overwhelmingly signed off on the government’s proposal to restructure international bonds, a much-needed step in its …
Fitch raises Sri Lanka rating after creditor nod to $12.55 billion debt overhaul Read More »
