MILAN (AP) — Giambarini Group’s plants in northern Italy must keep zinc baths that rustproof steel and iron parts super-heated around the clock, seven days a week, an energy-intensive process that has grown exponentially more costly as natural gas prices spike. Methane to create molten zinc that forms a protective coating over high-rise support beams…
By Kane Wu and Anshuman Daga HONG KONG/SINGAPORE (Reuters) -U.S. private equity firm TPG Inc is set to reach first-close of its new Asia-focused fund at more than $3 billion, two people with direct knowledge of the matter told Reuters. TPG kicked off fundraising of its eighth private equity fund for the region in January,…
TURIN, Italy (Reuters) – Stellantis signed an agreement with its partner Punch Powertrain to increase production in Italy of electrified dual-clutch transmissions (eDCT) for hybrid and plug-in hybrid electric vehicles, the carmaker said on Tuesday. The upgraded facility will be developed within Mirafiori, Stellantis’ main plant in Turin, northern Italy, and it will complement the…
BERLIN (Reuters) – The books for Volkswagen’s hotly anticipated initial public offering of Porsche AG are covered multiple times on the full size of the deal, a bookrunner involved in the listing said on Tuesday. Indicated demand for the listing, due to take place on September 29 at the Frankfurt Stock Exchange, exceeds the full…
TOKYO (AP) — Asian shares mostly rose Tuesday, after Wall Street closed higher on a late buying spree following recent losses as investors await another interest rate increase by the U.S. Federal Reserve. Markets have been jittery over whether the Fed’s plan to cool the hottest U.S. inflation in four decades might be too aggressive…
By Hyonhee Shin SEOUL (Reuters) – South Korea’s opposition to new rules governing U.S. subsidies for electric vehicles are set to overshadow President Yoon Suk-yeol’s first official trip to the United States, disrupting a recent display of alliance strength with Washington. Yoon, who was in London for the funeral of Britain’s Queen Elizabeth, departed for…
LONDON (Reuters) – Haleon on Tuesday said it had notified GSK and Pfizer that it had rejected their requests for indemnification in relation to U.S.-based litigation over the heartburn drug, Zantac. More than 2,000 legal cases related to Zantac have been filed in the United States over allegations that the compound contains probable carcinogens. Zantac,…
CANBERRA, Australia (AP) — Australian iron ore miner Fortescue Metals Group announced on Tuesday a $6.2 billion plan to eliminate fossil fuels and carbon emissions from its operations by the end of the decade. The world’s fourth-largest iron ore producer expects to save $818 million a year from 2030 based on current prices of diesel,…
NEW YORK (AP) — Prime Minister Liz Truss has kicked off her first visit to the United States as Britain’s leader with an admission that a U.K-U.S. free trade deal is not going to happen for years. Truss said a trans-Atlantic deal is not one of her priorities — a sharp contrast with the stance…
(Reuters) – SpaceX CEO Elon Musk said on Monday that the company will ask for an exemption from sanctions against Iran to provide the firm’s Starlink satellite broadband service in the country. Musk made the statement on Twitter at a time of widespread protests in Iran over the death of a woman in police custody….
