BEIJING (Reuters) -Warning that risks remain in the property market, China’s government said in a report released at parliament’s annual opening on Sunday that it would promote the sector’s stable development and prevent disorderly expansion by developers. Premier Li Keqiang made guarding against risks to top property developers one of the government’s priorities this year,…
WASHINGTON (Reuters) – A program to address the risks of outbound U.S. investment in areas with sensitive technology potentially harmful to national security would cost $10 million if set up this fiscal year, according to a U.S. Treasury Department report obtained by Reuters. The report surfaced as President Joe Biden’s administration weighs restrictions on outbound…
By Elvira Pollina and Giuseppe Fonte MILAN (Reuters) -Italian state investor CDP has called a board meeting on Sunday which is expected to approve a long-delayed non-binding offer for the fixed network of former phone monopoly Telecom Italia, three sources close to the matter said. CDP has teamed up with Australian infrastructure fund Macquarie in…
FRANKFURT (Reuters) – Mercedes-Benz laid the foundation stone for a sustainable battery recycling factory in Kuppenheim, southern Germany on Friday. The pilot plant will have an annual capacity of 2500 tonnes and will contribute to the production of more than 50,000 battery modules for new electric Mercedes-Benz vehicles. Recycled batteries will come from test vehicles…
(Reuters) -Goldman Sachs Group Inc’s asset management arm is among the suitors for the U.S. based sandwich chain Subway, which has been put up for sale with an estimated $10 billion price tag, Sky News reported on Saturday. Bain Capital, TPG and TDR Capital are also among the other suitors, the report added. Goldman Sachs…
By Jonathan Stempel NEW YORK (Reuters) – Sam Bankman-Fried should be allowed while on bail to have a flip phone with no internet capability and a basic laptop with limited functions, but be forbidden from using other electronic communication devices, the U.S. Department of Justice said. The proposal to limit the indicted FTX cryptocurrency exchange…
By David Shepardson WASHINGTON (Reuters) -Tesla Inc said it is recalling 3,470 2022 through 2023 Model Y vehicles in the United States because bolts securing the second-row seatback frames may not have been securely tightened, according to a filing made public Saturday. The National Highway Traffic Safety Administration (NHTSA) said a loose seat frame bolt…
(Corrects headline and first paragraph to remove reference to 30% headcount reduction) (Reuters) -Home rental firm Airbnb Inc laid off some of its recruiting staff this week, a company spokesperson said on Friday, noting that it’s not an indication of more widespread layoffs. The decision, first reported by Bloomberg News, affected less than 0.4% of…
FRANKFURT (Reuters) – German defence contractor Rheinmetall is in negotiations about building a tank factory in Ukraine, the newspaper Rheinische Post reported on Saturday, citing an interview with CEO Armin Papperger. Rheinmetall makes ammunition, other military equipment and also the Leopard tanks that Germany decided to send to Ukraine, which the company produces jointly with…
By Selena Li and Kane Wu HONG KONG (Reuters) -Bank of America and Citigroup have cut some investment banking jobs in Asia, people familiar with the matter told Reuters, joining global peers in paring headcount as China dealmaking slows. Bank of America (BofA), which is shrinking its investment banking business globally, did away with around…
