By Florence Tan and Naveen Thukral SINGAPORE (Reuters) -Oil prices lost ground on Thursday, falling more than $1 a barrel from their highest levels in more than a month after U.S. fuel stockpiles surged amid declining demand. The global benchmark Brent crude futures fell $1.12, or 1.40%, to $79.68 a barrel, as of 0423 GMT….
By Makiko Yamazaki TOKYO (Reuters) – The second-largest investor in Japan’s Toshiba Corp on Thursday called for an extraordinary general meeting, seeking to force the company to win two-thirds support for a three-way breakup plan that has angered some major overseas shareholders. The proposal by Singapore-based hedge fund 3D Investment Partners marks the latest in…
(Reuters) – AT&T Inc’s WarnerMedia and ViacomCBS Inc are exploring a possible sale of a significant stake or all of the CW Network, which they jointly own, the Wall Street Journal reported late on Wednesday. Nexstar Media Group Inc is among the suitors, according to the report, which cited people close to the talks. (Reporting…
TOKYO (Reuters) – Honda Motor Co and its Chinese joint venture partner Dongfeng Motor said on Thursday they would build a new factory in Wuhan to exclusively manufacture electric vehicles (EVs) from 2024. The factory would have a production capacity of 120,000 vehicles a year, Honda said in a statement. Honda, Japan’s second-largest automaker, is…
HONG KONG (Reuters) – UBS Group will split its 2,500 Hong Kong workforce into two groups with each returning to the workplace on alternate weeks, as the city tightens curbs amid a spike in COVID-19 cases, according to an internal memo to staff seen by Reuters. A spokesman for the bank confirmed the contents of…
TOKYO (Reuters) – Japan’s services sector activity expanded at a slower pace in December as growth in new and outstanding business softened and expectations for the 12 months ahead eased to a four-month low. The world’s third-largest economy is expected to rebound in the final quarter of last year after COVID-19 cases fell, as it…
By Nick Carey LONDON (Reuters) – The global semiconductor chip shortage will continue to hurt British car sales throughout this year and into 2023 after making a serious dent in vehicle supply in 2021, an industry group said on Thursday. The Society of Motor Manufacturers and Traders (SMMT) said around one in six new cars…
By Praveen Paramasivam (Reuters) -Royal Caribbean and Norwegian Cruise Line on Wednesday canceled sailings amid rising fears of Omicron-related coronavirus infections that have dampened the nascent recovery of the pandemic-ravaged cruise industry. Royal Caribbean Cruises Ltd called off its Spectrum of the Seas cruise for Jan. 6 after nine guests on its Jan. 2 trip…
(Reuters) – The demand for electric vehicles pushed U.S. automakers last year to unveil plans to spend billions of dollars to electrify gasoline models or introduce electric cars and trucks in a bid to catch up with market leader Tesla Inc. General Motors Co and Ford Motor Co are among those leading the chase. Last…
By Siddharth Cavale and Richa Naidu (Reuters) -Walmart Inc workers in the United States who must isolate or who have tested positive for COVID-19 will receive one week of paid leave instead of two under a new policy that aligns with a change in U.S. health guidance. A memo, seen by Reuters, sent on Tuesday…
