PARIS (Reuters) -The European Commission said on Tuesday it had approved Germany’s 34.5 billion euro ($36.60 billion) plan to recapitalise German natural gas trader Uniper, subject to future state divestment, management pay and acquisitions. The plan complies with EU state aid rules on the necessity, appropriateness and size of the intervention, the Commission said in…
By Laila Kearney and Isabel Kua SINGAPORE (Reuters) -Oil prices were little changed on Wednesday as a larger-than-expected draw in U.S. crude stocks offset worries about rising COVID-19 cases in top oil importer China. Brent crude futures rose 7 cents, or 0.1%, to $80.06 per barrel by 0404 GMT, while U.S. West Texas Intermediate (WTI)…
By Byron Kaye SYDNEY (Reuters) – Australia’s antitrust regulator blocked an asset transfer deal between Telstra and TPG, the country’s No.1 and No.2 wireless internet firms, citing competition concerns, setting the scene for a legal battle over access to four million customers. In a deal announced in May, Telstra Group was to buy spectrum –…
(Reuters) – Elon Musk said on Tuesday he will step down as chief executive of Twitter after finding a replacement. “I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams,” Musk wrote on Twitter. This is the…
By Ankur Banerjee SINGAPORE (Reuters) – The yen hovered around a four-month high against the dollar on Wednesday as traders contemplated the shock move by the Bank of Japan to adjust its bond yield control programme and potentially open the door to move away from its ultra-easy monetary policy. In a surprise move, the BOJ…
By David Shepardson and Tim Hepher WASHINGTON/LONDON (Reuters) -Boeing Commercial Airplanes is tapping the sales chief who helped lead the U.S. planemaker through two major crises in recent years to oversee fractured global supply chains as the aerospace industry battles to meet resurgent jet demand. Ihssane Mounir has been named senior vice president of global…
By Katie Paul SAN JOSE, Calif. (Reuters) -Meta Platforms Inc boss Mark Zuckerberg defended his acquisition of a virtual reality fitness app to an antitrust judge on Tuesday, arguing that his company was helping to build a nascent virtual reality industry, not dominate it. Zuckerberg testified in federal court in San Jose, California, that owning…
By Lisa Baertlein and Priyamvada C (Reuters) -FedEx Corp on Tuesday vowed to accelerate “aggressive cost reduction plans” by slashing an additional $1 billion in costs as it races to get ahead of falling demand for its delivery services. Shares rose 3.7% to $170.37 in extended trading after Memphis, Tennessee-based FedEx also reported a bigger…
By David Shepardson and Tim Hepher WASHINGTON/LONDON (Reuters) -Boeing Commercial Airplanes is tapping its sales chief who helped lead the U.S. planemaker through two major crises in recent years to oversee supply-chain issues as part of a number of executive moves. Ihssane Mounir has been named senior vice president of global supply chain, Boeing Commercial…
By Amanda Cooper LONDON (Reuters) -The dollar’s biggest bull run in 40 years may have finally come to a screeching halt, now that the world’s last dovish central bank – the Bank of Japan – has finally relaxed its iron grip on long-term interest rates. The BOJ shocked markets on Tuesday with a surprise tweak…
