BENGALURU(Reuters) – Shares of India’s Tata Motors Ltd fell 3.7% on Tuesday, after the Jaguar Land Rover (JLR) owner reported a bigger quarterly loss than expected and warned of rising inflationary pressures. Automakers worldwide have been roiled by chip shortages, supply chain disruptions, COVID-19 restrictions and rising raw material prices after a short-lived recovery towards…
By Yuka Obayashi TOKYO (Reuters) – Oil prices edged higher on Tuesday, trading near seven-year highs hit last week, as investors bet supplies will stay tight, with a limited production hike by major oil producers and a strong post-pandemic recovery in fuel demand. Brent crude for April delivery was up 14 cents, or 0.2% at…
By Tetsushi Kajimoto and Takaya Yamaguchi TOKYO (Reuters) -Japan’s top currency diplomat Masato Kanda said a weak yen has both merits and demerits for the economy due to the country’s changing export patterns and increasing reliance on imports. The remark underscores how a weak yen has become a tricky political issue for Japan’s finance ministry,…
TOKYO (Reuters) -Japanese retailer Seven & I Holdings Co Ltd is in final negotiations to sell its department store unit, Sogo & Seibu, the Nikkei business daily reported on Monday, amid investor pressure to focus on its core convenience store business. Investment funds and companies are expected to be among the potential bidders with negotiations…
NEW YORK (AP) — The New York Times said on Monday that it has bought Wordle, the free online word game that has exploded in popularity and, for some, become a daily obsession. It listed the purchase price as being in the “low-seven figures,” but did not disclose specifics. The Times, which has popular word…
By David Shepardson, Eric M. Johnson and Tim Hepher WASHINGTON/SEATTLE (Reuters) -Qatar Airways handed Boeing Co a record launch order for 34 new 777X freighters and a surprise purchase of 737 MAX passenger jets on Monday, in a $30 billion-plus package as President Joe Biden hailed the Gulf state as a major U.S. ally. The…
By David French (Reuters) – U.S. stocks closed higher on Monday, at the end of a volatile month for Wall Street where the tech-heavy Nasdaq narrowly avoided its worst ever start to the year and the S&P 500 recorded its weakest January performance since 2009. Valuations of growth and technology stocks have come under increasing…
(Reuters) – Members of the Sackler family who own Purdue Pharma LP are nearing an agreement to boost their more than $4 billion offer to resolve sprawling opioid litigation after negotiating with states that had objected to terms of the OxyContin maker’s bankruptcy reorganization, according to a court filing. Sackler family members and states objecting…
MEXICO CITY (AP) — Mexico’s economy entered a technical recession at the end of last year with two consecutive quarters of contraction despite annual growth of 5% for 2021. Continuing issues with the global supply chain have been a problem for Mexican assembly plants. Despite COVID-19 infections falling late last year and there being few…
By Chavi Mehta and Krystal Hu (Reuters) -Software company Citrix Systems said on Monday it would be taken private for $16.5 billion including debt by affiliates of Elliott Management and Vista Equity Partners, which are seeking to tap the pandemic-driven boom in cloud computing. The company said its shareholders would get $104 per share, implying…
