By Shariq Khan BENGALURU (Reuters) – Oil benchmarks jumped 6% on Monday, the day after the OPEC+ group jolted markets with plans to cut more production, raising fears of tightening supplies while some warned of reduced demand if oil refiners flinch at paying higher prices for crude. Brent crude settled higher by $5.04, or 6.3%,…
By Foo Yun Chee BRUSSELS (Reuters) – The European Commission is working on rules to ensure fair access to valuable car data for companies and industry but does not know when they will be ready, a spokesperson said on Monday as industry groups fret about unfair competition from U.S. and Chinese tech companies. The huge…
By Diane Bartz WASHINGTON (Reuters) -The U.S. Federal Trade Commission (FTC) on Monday ordered Illumina to divest cancer diagnostic test maker Grail, finding that its ownership would stifle competition in the U.S. market for cancer tests. Illumina said it would appeal the decision, and will seek expedited consideration from an appeals court. The company said…
(Reuters) – Canadian telecommunications company Rogers Communications Inc said on Monday it closed the C$20 billion ($14.87 billion) deal to acquire Shaw Communications. ($1 = 1.3449 Canadian dollars) (Reporting by Akash Sriram in Bengaluru; Editing by Krishna Chandra Eluri)
(Reuters) -Teck Resources Ltd on Monday rejected an unsolicited $22.5 billion bid from Swiss commodity firm Glencore Plc, sending the U.S.-listed shares of the Canadian copper miner up about 10% in premarket trading. Glencore’s all-share offer was a 20% premium to the closing stock price of Teck on March 26 when the bid was made…
By Noah Browning LONDON (Reuters) – Oil prices surged on Monday, posting their biggest daily rise in nearly a year, after a surprise announcement by OPEC+ to cut more production jolted markets. Brent crude was trading at $84.80 a barrel as of 1215 GMT, up $4.91, or 6.2%, after touching the highest in a month…
By Tim Hepher and Michel Rose PARIS (Reuters) – European planemaker Airbus is negotiating a new round of plane orders with China, coinciding with a visit by French President Emmanuel Macron to the economic superpower later this week, government and industry sources said. The potential deal for dozens of jets comes amid worsening relations between…
BEIJING (Reuters) – China’s top lenders should enhance risk management practices and be more sensitive to macroeconomic fluctuations, senior Chinese banking officials said, in response to a global banking sector crisis that has roiled financial markets. The collapse of Silicon Valley Bank (SVB) suggests banks should strictly abide by the regulatory requirements and measures of…
(Reuters) – Movie chain operator Cineworld Group said on Monday it has terminated the sale process for its U.S., UK and Ireland businesses after failing to find an all-cash buyer, and has reached a conditional deal with lenders to exit bankruptcy. The company, which is under Chapter 11 bankruptcy protection, said it will continue to…
By Leika Kihara TOKYO (Reuters) – Asia’s factory activity weakened in March as soft overseas demand hurt output, surveys showed on Monday, suggesting that a deteriorating global outlook will remain a drag on the region’s recovery and keep policymakers on their toes. Export-reliant Japan and South Korea both saw manufacturing activity contract in March while…