FRANKFURT (Reuters) -Uniper, Finnish parent Fortum and their governments have agreed in principle on a bailout for the German gas importer hit by high gas prices and dwindling Russian supplies, three sources told Reuters. Germany has been trying to rescue Uniper, which became a high-profile casualty of the economic standoff between the West and Moscow…
By Byungwook Kim and Heekyong Yang SEOUL (Reuters) -South Korean contract workers have tentatively agreed to end their strike at the country’s No.3 shipbuilder in return for a much smaller wage hike than they had demanded, union officials and subcontractors said on Friday. Since late last month, about 100 sub-contractors pressing for an increase of…
By Jesús Aguado and Inti Landauro MADRID (Reuters) -Santander has dropped out of the process to buy Citigroup’s Mexican retail bank after having previously submitted a non-binding offer earlier this year. The euro zone’s second-biggest bank by market value has been expanding in emerging economies in search of faster growth than in its core European…
NEW YORK (AP) — Stocks slipped Friday, giving back some of their gains from earlier in the week as worries brewed about the global economy and prospects for profits at big internet companies. The S&P 500 lost 0.9% to break a three-day rally that had carried Wall Street to its highest level in six weeks….
MADRID (Reuters) -Spain’s Santander said on Friday it was out of the process to buy Citigroup’s Mexican retail bank. After submitting a non-binding offer to buy assets of Citibanamex, Santander “has been informed it will not be continuing in the next stages of the process,” the Spanish bank said in a statement. Santander Executive Chairman…
By Sonali Paul MELBOURNE (Reuters) – Oil prices were roughly unchanged in early trading on Friday after sliding around 3% in the previous session on weakened demand in the United States, the world’s top oil consumer, and a pick-up in supply from Libya. Brent crude futures rose 17 cents, or 0.2%, to $104.03 a barrel…
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics has begun applications for tax breaks for 11 potential chip plants in Texas adding up to investments of about $192 billion, according to documents filed with Texas authorities. Samsung’s applications were filed ahead of the December expiry the state’s Chapter 313 property tax incentives programme….
By Kylie Madry and Noe Torres MEXICO CITY (Reuters) – Mexican breadmaker Grupo Bimbo on Thursday reported its second-quarter net profit doubled and the company raised its sales and operating earnings outlook, citing strong demand from regions including the United States and Europe. Net profit rose to 6.1 billion pesos ($305 million), the company said…
SAN BRUNO, Calif. (AP) — YouTube will begin removing misleading videos about abortion in response to falsehoods being spread about the procedure that is being banned or restricted across a broad swath of the U.S. The move announced Thursday by the Google-owned video site comes about a month after the U.S. Supreme Court overturned Roe…
By Sheila Dang (Reuters) -Snap Inc on Thursday painted a grim picture of the effects of a weakening economy on social media and declined to make a forecast in “incredibly challenging” conditions, sending its shares down 25% and setting off a chain reaction of stocks among rivals. The Snapchat owner said some advertisers continue to…
