HONG KONG (Reuters) – Cash-strapped Kaisa Group entered into a strategic co-operation agreement with state-owned China Merchants Shekou Industrial Zone Holdings and China Great Wall Asset Management on joint venture arrangements and asset acquisitions. Analysts said Kaisa’s move could set an example for other distressed property developers, including China Evergrande Group and Shimao Group, to…
By David Shepardson WASHINGTON (Reuters) – JetBlue Airways said Tuesday it made an unsolicited $3.6 billion bid for Spirit Airlines, potentially snarling merger plans between the ultra-low-cost carrier and Frontier Group Holdings. JetBlue Chief Executive Officer Robin Hayes said the deal would make the New York-based airline a stronger competitor to the so-called four legacy…
(Reuters) -U.S. chipmaker Intel Corp said on Tuesday it has suspended business operations in Russia, joining a slew of companies to exit the country following its invasion of Ukraine. The company, which had last month suspended shipments to customers in Russia and Belarus, said it has implemented business continuity measures to minimize disruption to its…
(Reuters) -Intel Corp is suspending all business operations in Russia, effective immediately, the U.S. chipmaker said on Tuesday, adding that it has implemented business continuity measures to minimize disruption to its global operations. “Intel continues to join the global community in condemning Russia’s war against Ukraine and calling for a swift return to peace,” it…
By Yuka Obayashi TOKYO (Reuters) – Oil futures slid on Wednesday, extending losses from the previous day, as a stronger U.S. dollar prompted fresh selling while data showing a build in U.S. crude stocks and Shanghai’s extended lockdown fuelled fears of slower demand. Brent crude futures fell 97 cents, or 0.9%, to $105.67 a barrel,…
(Reuters) – The Victorian gambling regulator will launch disciplinary action and can impose fines of up to A$100 million ($75.82 million) on Crown Resorts after an inquiry found the Australian casino operator enabled illegal transfer of funds from China. The Victorian Gambling and Casino Control Commission (VGCCC) said on Tuesday it will launch disciplinary proceedings…
By Dawn Chmielewski (Reuters) – WarnerMedia CEO Jason Kilar said the future of Hollywood is in the blockchain as he prepares to leave the media company that he helped lead into the streaming era. Kilar said he saw new opportunities at the intersection of storytelling and technology although he declined to discuss his next pursuit….
By Caroline Valetkevitch NEW YORK (Reuters) – Stocks on global indexes fell on Tuesday while U.S. Treasury yields rose to multi-year highs as comments from U.S. Federal Reserve Governor Lael Brainard put investor focus on the possibility of aggressive monetary policy tightening by the central bank to curb inflation. The U.S. dollar hit its highest…
SAO PAULO (Reuters) – Toyota said on Tuesday it will close its 60-year-old plant in the Brazilian city of Sao Bernardo do Campo, its first ever outside Japan, and shift production to its other manufacturing facilities in Sao Paulo state. The automaker said the move will be made gradually, starting in December and due for…
NEW YORK (AP) — The new CEO of Hertz says he’s working to fix a glitch in the rental-car giant’s systems that has led to some of its customers being wrongly accused of stealing cars they had rented. Stephen Scherr, who took over as CEO on Feb. 28, said the company has changed its practices…
