By Engen Tham and Xie Yu SHANGHAI/HONG KONG (Reuters) – Greenland Holdings Corp Ltd, a major Shanghai-based Chinese state-backed property developer responsible for marquee projects at home and abroad, was scrambling for funds late last year, people with direct knowledge of the matter said. In danger of defaulting on a $500 million offshore bond in…
By Kantaro Komiya TOKYO (Reuters) – Japanese manufacturers’ business confidence improved for the first time in three months in March, as automakers became less pessimistic, though firms feared a fresh surge in energy prices due to the Ukraine crisis, the Reuters Tankan poll showed. Service-sector sentiment turned negative for the first time since October due…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices tumbled more than 6% on Tuesday to their lowest in almost three weeks, as Russia suggested it would allow a revival of the Iran nuclear deal to go forward and as traders worried growing pandemic lockdowns in China could dent demand. Both Brent and U.S. crude futures…
TUSCALOOSA, Ala. (AP) — Mercedes-Benz has opened a new electric vehicle battery factory near Tuscaloosa, Alabama, that will create up to 600 new jobs. The German automaker said Tuesday that the plant in Bibb County opened a few months before Mercedes plans to start making two all-electric SUVs at a large assembly plant in nearby…
NEW YORK (Reuters) – Net foreign inflows into Treasuries rose for a third straight month in January in the amount of $74.36 billion, data from the U.S. Treasury department showed on Tuesday. Private overseas investors bought $62.22 billion in Treasuries and foreign official institutions bought $12.29 billion in January, according to Treasury International Capital (TIC)…
By Chibuike Oguh New York (Reuters) -The three main Wall Street stock indexes rallied on Tuesday, a day before an expected interest rate hike by the U.S. Federal Reserve, while oil prices dropped 7% on hopes of an end to the conflict in Ukraine. Investors are expecting the U.S. central bank to raise interest rates…
ALBUQUERQUE, N.M. (AP) — There’s no way of knowing if cost increases and missed construction deadlines will continue at the only U.S. underground nuclear waste repository, according to independent federal investigators, according to results of a federal watchdog report made public Tuesday. The Government Accountability Office outlined the concerns in its report, noting that the…
(Reuters) – Global commodities trader Trafigura Group has been holding talks with private equity groups to secure additional financing as soaring prices trigger margin calls across the commodities industry, Bloomberg News reported on Tuesday. Trafigura faced margin calls in the billions of dollars last week, the report said, citing people familiar with the matter. The…
By Pete Schroeder WASHINGTON (Reuters) -Sarah Bloom Raskin ended her bid to become the top bank regulator at the Federal Reserve on Tuesday, one day after Democratic Senator Joe Manchin said he would not support her, citing worries she would discourage banks from lending to oil and gas companies. With Raskin informing President Joe Biden…
(Reuters) – The 2023 Cadillac Lyriq appears to be an early winner some two months before the first of the new electric crossovers begin arriving at U.S. dealers, General Motors officials said on Tuesday. GM’s premium brand already has received 233,000 expressions of interest from consumers, Rory Harvey, Cadillac’s global vice president, said. “We can’t…
