PARIS (Reuters) – Stellantis said on Wednesday it would sell its entire stake in an auto financing joint venture with Dongfeng to the Chinese car maker and consolidate its own financial services in China into a new structure it fully owns. “As we continue our push to drive profitable growth in China, we need to…
DALLAS (AP) — Union officials say pilots of Southwest Airlines pilots are suffering through an epidemic of fatigue due to poor scheduling practices by the airline, and that it is raising safety concerns. Union leaders said in an open letter Tuesday to Southwest CEO Robert Jordan and other executives that problems started last summer when…
BEIJING (Reuters) -China increased its overall trade with Russia and war-hit Ukraine in the first quarter from a year earlier in yuan terms, and Beijing said economic cooperation with both countries would remain normal. Overall trade with Russia rose to 243.03 billion yuan ($38.18 billion) in January-March, Chinese customs spokesman Li Kuiwen said at a…
By Makiko Yamazaki TOKYO (Reuters) – Big Japanese firms including Sumitomo Mitsui Financial Group, Tokyo Electric Power (Tepco) and Mitsubishi Corp will face resolutions from activist shareholders urging greater commitment to tackling climate change at their annual meetings this year. Five climate activist groups, including Japan’s Kiko Network and Australia’s Market Forces, said in a…
By Alun John HONG KONG (Reuters) – Asian shares rose on Wednesday boosted by U.S. inflation figures that fared better than markets’ worst expectations – and caused U.S. yields to pause their march higher – though Chinese shares remained pressured by COVID-19. Share market sentiment was also capped by gains in oil and other commodity…
By Ross Kerber (Reuters) – Top proxy adviser Institutional Shareholder Services on Tuesday recommended investors cast proxy votes against the pay of Wells Fargo & Co Chief Executive Charles Scharf and other leaders, citing concerns about the discretion used to award the pay and lack of disclosures. In a report provided by a representative, ISS…
By Kantaro Komiya TOKYO (Reuters) – Japan’s core machinery orders posted their biggest monthly fall in nearly two years in February, official data showed on Wednesday, dragged down by a steep drop in demand from IT and other service firms to extend their decline into a second month. The data added to concerns that Japanese…
(Reuters) – Profits at Ma Hong’s spicy hotpot restaurant have been squeezed by about a fifth since he opened in downtown Beijing last year, crushed by beef tripe prices that have shot up by more than 50% and the surging costs of other key ingredients. “We sell it at the same price as before. Also…
SYDNEY (Reuters) – A measure of Australian consumer sentiment slipped for a fifth straight month in April as rising inflation and the risk of higher interest rates weighed on family finances and spending intentions. The Westpac-Melbourne Institute index of consumer sentiment released on Wednesday dipped 0.9% in April from March, when it slid 4.2%. The…
OMAHA, Neb. (AP) — Some grain elevators are so full that farmers trying to sell their crops are being turned away. But at the same time, flour and animal-feed mills are halting production because they can’t get the grain they need. The issue? The lack of trains to move the grain. Federal regulators are holding…
