HAIPHONG (Reuters) – Vietnamese automaker VinFast said on Thursday that a Singapore-based holding company that owns a stake in it had confidentially filed for an initial public offering (IPO) with U.S. securities regulators. VinFast, which is a unit of Vietnam’s biggest conglomerate Vingroup JSC, said it had not determined the size and price range for…
NICOSIA, Cyprus (AP) — A proposed pipeline to deliver natural gas from deposits in the east Mediterranean to European markets is too expensive, not economically viable and will take too long to help countries seeking alternatives to Russian gas any time soon, a senior U.S. diplomat said Thursday. U.S. Under Secretary of State Victoria Nuland…
LONDON (AP) — Shell says its decision to pull out of Russia in response to the country’s invasion of Ukraine has already cost the international energy giant as much as $5 billion. The reduced value of Russian assets, credit losses and “onerous” contract terms will cut earnings for the first three months of the year…
MILAN (Reuters) – Shares in Atlantia jumped almost 12% to their highest levels in over two years after Global Infrastructure Partners and Brookfield Infrastructure pitched a possible takeover of the Italian road and airport operator. The funds have an agreement with ACS under which the Spanish construction company could acquire a majority stake in Atlantia’s…
By Stephen Jewkes MILAN (Reuters) -Global Infrastructure Partners and Brookfield Infrastructure pitched a possible takeover of Italian road and airport operator Atlantia last week after talks with its main shareholder, the two funds said. Shares in Atlantia, which has a market capitalisation of over 16 billion euros ($17.5 billion), surged 10% on Thursday as the…
By Swathi Nair BENGALURU (Reuters) – Recession risks in the euro area are rising, with euro zone inflation seen running hot for the remainder of 2022 and the European Central Bank likely to increase its deposit rate by year-end, a Reuters poll showed. While inflation hit another record high of 7.5% in March, it is…
By Aditya Kalra, Aftab Ahmed and Anirban Sen NEW DELHI (Reuters) – Walmart’s Indian e-commerce company Flipkart has internally raised its IPO valuation target by around a third to $60-70 billion, and now plans a U.S. listing in 2023 instead of this year, two sources with direct knowledge of the plan told Reuters. Flipkart, which…
LONDON (Reuters) – Britain’s financial watchdog said on Thursday it will create 80 new roles to shut down problem companies faster as it faces pressure from lawmakers to tackle a rising volume of scams. The Financial Conduct Authority said a three-year business plan will focus on preventing serious harm to consumers, set higher standards and…
TOKYO (AP) — Asian shares were mostly lower Friday as investors eyed the war in Ukraine and what the world’s central banks might do to keep inflation in check. Benchmarks fell in Tokyo, Seoul, Hong Kong and Shanghai, while Sydney advanced. Oil prices retreated. Investors have been weighing the latest updates from the U.S. Federal…
LONDON (Reuters) – Shell said on Thursday it expects to write off $4 to $5 billion post-tax from the value of its assets in the first quarter of 2022 following its decision to exit Russia. (Reporting by Ron Bousso; editing by Jason Neely)
