SHANGHAI (Reuters) -China’s central bank kept borrowing costs of its medium-term policy loan unchanged for the third straight month as expected on Friday, despite Beijing calling for more monetary stimulus to cushion an economic slowdown. The People’s Bank of China (PBOC) said it was keeping the rate on 150 billion yuan ($23.52 billion) worth of…
By Kevin Buckland TOKYO (Reuters) – The dollar rose to a two-decade peak against the yen and kept close to a two-year high to the euro on Friday, as more hawkish comments from Federal Reserve officials reinforced expectations for faster U.S. policy tightening. The greenback was 0.43% higher at 126.40 yen after earlier reaching 126.56…
KUALA LUMPUR (Reuters) – Italian confectionary giant Ferrero said it will stop sourcing palm oil from Sime Darby Plantation after the U.S. customs service found the Malaysian planter used forced labour. “Ferrero will comply with the U.S. Customs and Border Protection’s decision,” Ferrero, which uses palm oil its in Ferrero Rocher chocolates and Nutella spread,…
TOKYO (Reuters) -Japan’s Subaru Corp has suspended shipment of some of its three main automobile models over an engine sensor malfunction and also plans to temporarily halt production of the models, the company said on Friday. The automaker discovered the problem with the sensor in the CB18 engine used in its Forester, Outback and Levorg…
TOKYO (Reuters) – Japan’s Subaru Corp has suspended shipment of some of its three main automobile models due to an engine sensor malfunction, the Nikkei newspaper and other media reported. The automaker discovered the problem with the sensor in the CB18 engine that is used in its Forester, Outback and Levorg models, according to reports…
By Hyunjoo Jin and Chavi Mehta (Reuters) – Elon Musk’s offer to buy Twitter sparked concerns among Tesla investors and analysts that the electric carmaker could suffer as the chief executive becomes distracted by his takeover play and the possible sales of Tesla shares to fund the deal. The billionaire entrepreneur, who also heads rocket…
(Reuters) – Nektar Therapeutics said on Thursday it had stopped all trials involving its key cancer drug following its failure in multiple studies, dragging the drug developer’s shares down 23% in after-market trading. The trials that Nektar stopped included those involving a combination of its drug bempegaldesleukin with Bristol Myers Squibb Co’s cancer drug Opdivo as…
By Sheila Dang (Reuters) -Twitter Chief Executive Officer Parag Agrawal sought to reassure employees during an all-hands meeting on Thursday that the company was not being “held hostage” by news of Elon Musk’s offer to buy the company, a source familiar with the matter told Reuters. As Agrawal took questions from staff that were posted…
By Gram Slattery, Gabriel Araujo, Peter Frontini and Roberto Samora RIO DE JANEIRO/SAO PAULO (Reuters) -Brazilian state-run oil company Petrobras on Thursday formally elected Jose Mauro Coelho as its chief executive for a one-year term, ending weeks of turmoil in which the government struggled to fill the top position. Coelho, a government technocrat, pledged to…
OMAHA, Neb. (AP) — Newspaper publisher Lee Enterprises is facing renewed pressure from a hedge fund to speed up its transition to digital publishing and consider adding new digital-savvy leaders to its board after successfully fighting off a hostile takeover from a different hedge fund. Lee’s largest shareholder, Cannell Capital, this week disclosed buying nearly…
