Ad Behind the Markets
By Lisa Richwine LOS ANGELES (Reuters) -Walt Disney Co’s board of directors on Tuesday unanimously voted to extend Chief Executive Officer Bob Chapek’s contract for three years, a major vote of confidence in his leadership following recent controversies at the media giant. Chapek, 63, became Disney’s CEO in February 2020, succeeding Bob Iger just months…
By Francesco Canepa and Balazs Koranyi SINTRA, Portugal (Reuters) – European Central Bank policymakers are weighing up whether or not they should announce the size and duration of their upcoming bond-buying scheme, designed to curb financing costs for Italy and other debt-laden countries, sources told Reuters. The ECB is set to announce the new tool…
BERLIN/SEOUL (Reuters) -German authorities have raided Hyundai and Kia over allegations that they put over 210,000 diesel vehicles with suspected illegal defeat devices onto the road, the Frankfurt state prosecutor’s office said on Tuesday. The announcement sent shares of the two South Korean automakers down more than 6% on Wednesday, as investors fear it may…
HONG KONG (AP) — When the British handed its colony Hong Kong to Beijing in 1997, it was promised 50 years of self-government and freedoms of assembly, speech and press that are not allowed Chinese on the Communist-ruled mainland. As the city of 7.4 million people marks 25 years under Beijing’s rule on Friday, those…
BEIJING (Reuters) – China’s factory activity likely expanded in June for the first time in four months, driven by a faster recovery in production and an easing of supply chain snags as manufacturing hubs emerged from lockdowns, a Reuters poll showed on Wednesday. The official manufacturing Purchasing Manager’s Index (PMI) is expected to rise to…
By Heekyong Yang SEOUL (Reuters) – South Korean battery maker LG Energy Solution Ltd (LGES), a major supplier to U.S. carmakers including Tesla, is reassessing a $1.3 billion investment plan for a Arizona factory citing “unprecedented” economic conditions. News that South Korea’s biggest battery maker is reviewing the plan, unveiled only three months ago, knocked…
BEIJING (AP) — With no one at the wheel, a self-driving taxi developed by tech giant Baidu Inc. is rolling down a Beijing street when its sensors spot the corner of a delivery cart jutting into its lane. The taxi stops a half-car-length away. “So sorry,” a recorded voice tells passengers. The steering wheel turns…
LOS ANGELES (Reuters) – Talks to reach a new contract with union workers at West Coast shipping ports before the existing deal expires this week are going well with no major sticking points, U.S. Labor Secretary Martin Walsh told Reuters on Tuesday. The current contract covering more than 22,000 port laborers at 29 West Coast…
By Jonathan Stempel (Reuters) – A federal judge in Washington, D.C. on Tuesday dismissed a lawsuit by eight citizens of Mali who sought to hold Hershey Co, Nestle SA, Cargill Inc and others liable for child slavery on Ivory Coast cocoa farms. U.S. District Judge Dabney Friedrich said the plaintiffs in the proposed class action…
By Chen Aizhu SINGAPORE (Reuters) -PetroChina may sell out from natural gas projects in Australia and oil sands in Canada to stem losses and divert funds to more lucrative sites in the Middle East, Africa and central Asia, two people with knowledge of the matter said. PetroChina’s plan follows a similar strategic shift by smaller…
