January 20, 2022

By Poppy McPherson and Fanny Potkin BANGKOK (Reuters) -Lebanon’s M1 Group will partner with a Myanmar firm to take over Norwegian telco Telenor’s business in the Southeast Asian country after its military junta sought a local buyer, three sources familiar with the matter told Reuters. Telenor https://www.reuters.com/business/media-telecom/telenor-sells-myanmar-operations-m1-group-105-mln-2021-07-08, one of the biggest foreign investors in Myanmar,…

By Brenda Goh and Clare Jim SHANGHAI/HONG KONG (Reuters) -China Evergrande Group said on Friday that it was hiring more financial and legal advisers to help it with demands from creditors, after a key group of its international creditors threatened to take legal action if it did not show more urgency to resolve a default….

(Reuters) – Intel Corp is committing $20 billion to build a manufacturing mega-site in New Albany, on the outskirts of Columbus, Ohio, Time reported on Thursday. (Reporting by Akriti Sharma in Bengaluru; Editing by Shounak Dasgupta)

By Yuka Obayashi TOKYO (Reuters) – Oil prices plunged on Friday, after rising to seven-year highs this week, as an increase in U.S. crude and fuel stockpiles prompted investors to take profits from the rally. Brent crude futures dropped $2.46, or 2.8%, to $85.92 a barrel by 0136 GMT. The contract earlier fell by as…

By Svea Herbst-Bayliss BOSTON (Reuters) – Galaxy Digital Holdings Ltd, a crypto-oriented financial services firm, on Thursday said it hired an executive from asset management giant Blackstone Group to help grow its business and expand product offerings. William Burt, a former managing director at Blackstone, joined Galaxy Digital as chief operating officer of Galaxy Digital…

By Lisa Richwine LOS ANGELES (Reuters) -Netflix Inc dashed hopes for a quick rebound after forecasting weak first-quarter subscriber growth on Thursday, sending shares sinking nearly 20% and wiping away most of its remaining pandemic-fueled gains from 2020. The world’s largest streaming service projected it would add 2.5 million customers from January through March, less…

(Reuters) – Deutsche Bank AG has hired John Arena from Bank of America to help structure art loans for ultra-rich individuals in the Americas, according to an internal memo on Thursday seen by Reuters. Fine-art lending programs are a wealth-planning strategy designed to help individuals looking to fund an investment in fine art or make…

By Marcy deLuna HOUSTON (Reuters) – A California investor sued Tellurian Inc Chairman Charif Souki on Thursday, accusing him of fraud in relation to an agreement over Tellurian stock. Shareholder Chris Parker filed a breach of contract lawsuit with the U.S. District Court in Denver seeking unspecified damages from Souki, founder of the U.S. liquefied…

(Reuters) -Peloton Interactive Inc is temporarily halting production of its connected fitness bikes and treadmills after a significant drop in demand, CNBC reported on Thursday, citing internal documents from the company. Shares in the exercise bike maker, once a pandemic darling, closed down 24% at about $24, wiping off nearly $2.5 billion in market value….