(Reuters) -Billionaire Gautam Adani’s conglomerate plans to buy Switzerland-based Holcim AG’s cement businesses in India for $10.5 billion, becoming the country’s No. 2 cement manufacturer in its largest-ever acquisition. Under the deal, the biggest in India since 2018, Adani Group will pay $6.4 billion in cash to acquire Holcim’s 63.1% stake in Ambuja Cements Ltd…
By Michael Shields DAVOS, Switzerland (Reuters) – Movers and shakers arriving for the annual meeting of the World Economic Forum (WEF) this month can pack sandals instead of ski boots for a rare springtime version of the event in Davos, the Swiss ski resort that is Europe’s highest city. In December, organisers postponed the meeting…
LONDON (Reuters) – British employers expect to raise staff pay by 3%, a big increase by normal standards but far below the current rate of inflation, and there are signs of weaker wage momentum ahead, a survey published on Monday showed. The Chartered Institute of Personnel and Development (CIPD) said recruitment intentions remained strong across…
By Kevin Yao and Ellen Zhang BEIJING (Reuters) -China’s retail and factory activity fell sharply in April as wide COVID-19 lockdowns confined workers and consumers to their homes and severely disrupted supply chains, casting a long shadow over the outlook for the world’s second-largest economy. Full or partial lockdowns were imposed in major centres across…
BEIJING (AP) — China’s factory and consumer activity fell even more than expected in April under anti-virus controls, official data showed Monday, but a Cabinet official said the economy is reviving as anti-virus curbs ease and its commercial capital of Shanghai reopens. The slump in the second-biggest economy fueled fears global manufacturing and trade might…
(Reuters) -Renault will sell its majority stake in carmaker Avtovaz to a Russian science institute, the French carmaker said on Monday, adding that the deal included a six-year option to buy back the stake. The Western carmaker most exposed to the Russian market, Renault added that its holding of nearly 67.69% in Avtovaz would be…
DUBLIN (Reuters) – Ryanair on Monday posted a 355 million euro ($369.06 million) loss for the pandemic-hit 12 months to end-March, but said it was impossible to accurately forecast anything beyond hoping for a return to “reasonable profitability” this year. The Irish airline, which is operating more flights than any other European airline according to…
By Liangping Gao and Clare Jim BEIJING/HONG KONG (Reuters) – China’s property sales in April fell at their fastest pace in at least 12 years as COVID-19 lockdowns further cooled demand despite more policy easing steps aimed at reviving a key pillar of the world’s second-largest economy. Property sales by value in April slumped 46.6%…
Shares advanced in Asia on Tuesday after another wobbly day on Wall Street extended a losing streak for markets. Hong Kong advanced nearly 2.5% and other regional benchmarks were moderately higher. Oil prices slipped. Signs of progress in China’s effort to bring outbreaks of coronavirus under control appeared to be outweighing concern over weaker than…
By Choonsik Yoo and Seunggyu Lim SEOUL (Reuters) -The South Korean central bank chief’s comment that he could consider big-step interest rate raises in coming months shook the local bond market on Monday, as Asia’s fourth-largest economy also braced for fast slowing in growth. Yields on government bonds rose as traders rushed to cut their…
