By Alex Lawler and Swati Verma LONDON (Reuters) -Oil prices extended losses on Monday as looming increases to interest rates by major central banks and signs of strong Russian exports offset rising Middle East tension over a drone attack in Iran and hopes of higher Chinese demand. Investors expect the U.S. Federal Reserve to raise…
By Nikunj Ohri NEW DELHI (Reuters) -State-run Life Insurance Corporation (LIC), India’s largest insurer, is reviewing Adani Group’s response to scathing criticism by a U.S. short-seller and will hold talks with the group’s management within days to seek clarifications. LIC has invested more than $4 billion in the group, which has lost about $66 billion…
By Richa Naidu LONDON (Reuters) – Unilever on Monday appointed Hein Schumacher to replace Alan Jope as chief executive from July in a move that was welcomed by investors including board member and activist shareholder Nelson Peltz. Schumacher, 51, rejoined Unilever in October last year as non-executive director and is currently the chief of Dutch…
BEIJING (Reuters) – China’s factory activity in January is expected to have contracted more slowly than in December, a Reuters poll showed on Monday, with production hampered as workers continued to fall sick after the government dismantled its “zero-COVID” regime.” While the “exit wave” of infections passed through the population and workforce faster than economists…
By John O’Donnell, Lawrence White and Tom Sims LONDON/FRANKFURT (Reuters) -Rising borrowing costs are giving a long-awaited lift to Europe’s beleaguered banks, but they come with a sting in the tail. Last year central banks ended a decade of rock-bottom interest rates as the U.S. Federal Reserve and then the European Central Bank moved towards…
By Chris Thomas and Aditya Kalra NEW DELHI (Reuters) – Most Adani group shares extended their sharp falls on Monday as the Indian conglomerate’s rebuttal of a U.S. short-seller’s criticism failed to pacify investors, driving stock market losses for the companies to $66 billion over three days. Flagship Adani Enterprises, which is facing a crucial…
By Dhara Ranasinghe and Stefano Rebaudo LONDON (Reuters) – The European Central Bank looks set on Thursday to deliver another large interest rate rise to curb inflation. What it does after that is less certain. ECB President Christine Lagarde, speaking in Davos recently, stressed the need for monetary policy to “stay the course.” Investors are…
By Chris Thomas and Aditya Kalra NEW DELHI (Reuters) -Most Adani group shares extended their sharp falls to Monday as a detailed rebuttal of a U.S. short-seller’s criticisms by the Indian conglomerate failed to pacify investors whose market losses have now risen to $65 billion over three days. Flagship Adani Enterprises, which is facing a…
TOKYO (Reuters) – Toyota Motor Corp sold 10.5 million vehicles in 2022, it said on Monday, defending its title as the world’s top-selling automaker for a third straight year. Global sales for the group, including truck unit Hino Motors and small-car maker Daihatsu, inched down 0.1% as record overseas sales of 8.6 million vehicles helped…
By Wayne Cole SYDNEY (Reuters) – Asian shares edged higher on Monday into a week that is certain to see interest rates rise in Europe and the United States, along with U.S. jobs and wage data that may influence how much further they still have to go. Earnings from a who’s who of tech giants…
