By Isabel Kua SINGAPORE (Reuters) -Oil prices fell on Tuesday as recession concerns and worsening COVID-19 outbreaks in China sparked fears of lower fuel demand, outweighing supply worries. Brent crude fell 31 cents, or 0.3%, to $97.61 a barrel by 0434 GMT, while U.S. West Texas Intermediate (WTI) crude fell 36 cents, or 0.4%, to…
FRANKFURT (Reuters) – Munich Re on Tuesday said it posted a 44% rise in net profit in the third quarter, despite big claims from Hurricane Ian, and it “firmly” stuck to its full-year earnings target. Net profit in the quarter of 527 million euros ($527.21 million) compares with 366 million euros a year ago when…
BANGKOK (AP) — Asian shares were mixed on Wednesday as investors awaited the outcome of the U.S. midterm elections and a major inflation update due later in the week. Tokyo’s Nikkei 225 index slipped 0.2% and the Hang Seng in Hong Kong also shed 0.2%, to 16,517.04. The Shanghai Composite index edged 0.1% higher to…
BEIJING (AP) — Renault SA and China’s Geely announced plans Tuesday for a jointly owned venture to produce gasoline-powered and hybrid powertrains, adding to a series of partnerships between global automakers to share soaring technology costs. The venture will have 17 plants with annual production capacity of 5 million powertrains, five research and development centers…
Tyson Foods’ Chief Financial Officer John R. Tyson __ a great-grandson of the company’s founder __ has been charged with public intoxication and criminal trespassing after allegedly entering a stranger’s home and falling asleep on her bed. According to an incident report provided by the Fayetteville, Arkansas, police department, officers received a call early Sunday…
SHANGHAI (Reuters) – Chinese electric vehicle giant BYD said on Tuesday that it would launch a new premium brand in the first quarter of 2023. BYD said the products under the new brand will be priced above 1 million yuan ($138,096.75), without further elaboration. ($1 = 7.2413 Chinese yuan renminbi) (Reporting by Zhuzhu Cui, Zhang…
(Reuters) -British Prime Minister Rishi Sunak is poised to announce a major natural gas deal with the United States after the COP27 climate change summit, the Telegraph newspaper reported on Monday. Britain hopes the United States will promise about 10 billion cubic metres of liquefied natural gas (LNG) over the coming year, the report said,…
(Reuters) -Lordstown Motors Corp has agreed a deal under which a Foxconn affiliate will invest up to $170 million in the electric vehicle (EV) maker, making the Taiwanese contract manufacturer its biggest shareholder with a near 20% stake. Foxconn Ventures Pte Ltd will purchase 12.9 million shares on or after Nov. 22 and an additional…
By David Shepardson (Reuters) -German auto supplier Bosch has agreed pay $25 million to resolve California’s probe into the company’s role in the diesel emissions scandals at Volkswagen and Fiat Chrysler, the company and state said Monday. The settlement, which is subject to court approval, resolves allegations Bosch participated in misconduct by providing hardware, software,…
(Reuters) – British Prime Minister Rishi Sunak is poised to announce a major gas deal with the U.S. after the COP27 climate change summit, The Telegraph reported on Monday. Talks about the “energy security partnership” are in their final stages, with the U.S. planning to sell billions of cubic metres of liquefied natural gas to…
