BANGKOK (AP) — Stocks were mostly lower in Asia on Tuesday after Wall Street pulled back as surprisingly strong economic reports highlighted the difficulty of the Federal Reserve’s fight against inflation. Tokyo rose while other regional markets declined. U.S. futures gained and oil prices also advanced. Adding to worries over the potential for recession, Fitch…
By Lisa Baertlein (Reuters) -The first electric delivery trucks rolled off production lines at BrightDrop’s new factory in Canada on Monday, when the upstart unit of General Motors Co also announced DHL Express Canada as its first customer outside the United States. GM spent seven months and more than $2 billion transforming its 2 million-square-foot…
(Reuters) – Germany will set up so-called climate protection contracts with industrial companies next year to support a transition towards cleaner production and a switch to hydrogen, Economy Minister Robert Habeck said on Sunday. “The aim is to efficiently develop a green industry along the value chain that becomes marketable,” Habeck was quoted as saying…
By Jonathan Stempel NEW YORK (Reuters) – Bill Hwang is seeking the dismissal of his U.S. fraud indictment over the collapse of his once-$36 billion Archegos Capital Management LP, saying prosecutors committed misconduct by sandbagging him when building their case. Hwang made the request in a Friday night filing in Manhattan federal court, where he…
By Rhea Binoy (Reuters) – Softbank-backed Indian hotel aggregator Oyo Hotels and Homes Pvt Ltd said on Saturday it ins cutting 600 jobs in its corporate and technology departments. India’s IPO-bound Oyo will cut 10% of its 3,700-employee base, while at the same time hiring 250 people, it said in a statement. Product and engineering…
By Valentina Za MILAN (Reuters) -UniCredit will reassess the remuneration of CEO Andrea Orcel ahead of its 2023 general meeting to see if the results achieved by Italy’s second-biggest bank in 2021-2022 warrant an increase, a document on its website showed. UniCredit Chairman Pier Carlo Padoan said in an emailed comment late on Friday that…
KYIV, Ukraine (AP) — Russian authorities rejected a price cap on the country’s oil set by Ukraine’s Western supporters and threatened Saturday to stop supplying the nations that endorsed it. Australia, Britain, Canada, Japan, the United States and the 27-nation European Union agreed Friday to cap what they would pay for Russian oil at $60-per-barrel….
(Reuters) – AT&T Inc. has agreed to pay a $6.25 million penalty to settle a Securities and Exchange Commission lawsuit accusing the phone company of selectively leaking financial information to Wall Street analysts, the SEC said in a court filing. Three executives of the company: Christopher Womack, Kent Evans and Michael Black, who the SEC…
By Valentina Za MILAN (Reuters) – UniCredit will reassess the remuneration of CEO Andrea Orcel ahead of its 2023 general meeting to see if the results achieved by Italy’s second-biggest bank in 2021-2022 warrant an increase, a document on its website showed. UniCredit Chairman Pier Carlo Padoan said in an emailed comment late on Friday…
By Maki Shiraki and Norihiko Shirouzu TOKYO (Reuters) -Renault SA and Nissan Motor Co are set to forgo a Wednesday announcement of a deal to restructure their automotive alliance as they struggle to bridge their differences, three people familiar with the matter said. In their discussions, Renault is looking to Nissan to invest in its…
