(Reuters) -Private equity firm Lone Star said on Friday its cash proposal to buy Bank of Cyprus Holdings PLC was rejected by the lender’s board. Shares in the Cyprus-based firm, which are up about 11% so far this year, closed at around 1.14 euros on Thursday. Bank of Cyprus currently has a market cap of…
HANOI (Reuters) – Apple supplier Foxconn has signed a $300 million memorandum of understanding with Vietnamese developer Kinh Bac City to expand its facility in the north of the country to diversify and boost production, state media said on Saturday. The Taiwanese company’s new factory, on a plot of 50.5 hectares (125 acres) in Bac…
TOKYO (Reuters) – Japanese trading firm Mitsui & Co is close to making a final decision to join a new Russian operator for the Sakhalin-2 liquefied natural gas (LNG) project, the Nikkei newspaper said, without citing sources. Registered on Aug. 5, the new entity replaces project operator Sakhalin Energy as Moscow rewrites the rules for…
SINGAPORE (Reuters) – China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted coal while Western countries shunned Russian cargoes over its invasion of Ukraine. China brought in 7.42 million tonnes of coal from Russia last month, data from the…
BEIJING (Reuters) -A Shanghai court on Friday sentenced Chinese-Canadian billionaire Xiao Jianhua, not seen in public since 2017, to 13 years in jail and fined his Tomorrow Holdings conglomerate 55.03 billion yuan ($8.1 billion), a record in China. Xiao and Tomorrow Holdings were charged with illegally siphoning away public deposits, betraying the use of entrusted…
By David Shepardson WASHINGTON (Reuters) – The White House is ramping up efforts to tout the $1 trillion bipartisan infrastructure bill and the effort to refurbish roads, bridges and airports and reduce emissions. U.S. Transportation Secretary Pete Buttigieg will go on a four-day, six-state tour starting Tuesday, visiting Florida, Oklahoma, Minnesota, Ohio, Nevada and New…
By David Lawder WASHINGTON (Reuters) – As a political messaging war rages over $80 billion in new Internal Revenue Service funding, a U.S. Treasury official is pushing back on an informal estimate that the money could cause Americans earning less than $400,000 to pay as much as $20 billion more in taxes over a decade….
BOISE, Idaho (AP) — A five-year review by U.S. officials has determined that Endangered Species Act protections for ocean-going salmon and steelhead that reproduce in the Snake River and its Idaho tributaries must stay in effect. The National Oceanic and Atmospheric Administration’s fisheries division review made public Thursday found that steelhead, spring and summer chinook,…
By Lewis Krauskopf NEW YORK (Reuters) -The rebound in U.S. stocks is gaining believers among investors who study market trends, bolstering hopes for equities in the second half of 2022. After notching its worst first half since 1970, the S&P 500 has bounced some 15% from its mid-June low, fueled by stronger-than-expected corporate earnings and…
(Reuters) -A panel of investors said on Friday that it expects to hold an auction to settle credit default swaps (CDS) related to Russia’s defaulted debt in the first half of September, as it continues to work on the auction setup. The Credit Derivatives Determinations Committee (CDDC) said the exact date is yet to be…
