By Noah Browning LONDON (Reuters) -Oil prices were steady on Wednesday after a surprise rise in U.S. crude inventories stoked demand concerns as economic worries competed with a tighter supply outlook for later in the year. Brent crude futures rose 2 cents, or 0.7%, to $74.42 a barrel. West Texas Intermediate U.S. crude was down…
(Reuters) – Online fashion giant Shein raised $2 billion in its latest fundraising round that values the company at $66 billion, about a third less than a year earlier, the Wall Street Journal reported on Wednesday, citing people close to the company. (Reporting by Sheena K Thomas)
By Laurie Chen BEIJING (Reuters) -China has notified foreign embassies and international organisations not to exhibit “politicised propaganda” on their buildings, an instruction diplomats say is aimed at missions that have displayed Ukrainian flags since Russia’s invasion. Several foreign missions in China raised the Ukrainian flag, or displayed its image in posters and lights, following…
By Victoria Waldersee and Joseph White MUNICH (Reuters) – Electric car maker Fisker Inc is exploring collaboration with other companies to scale up market share faster, Chief Executive Henrik Fisker said on Wednesday. “Buyers aren’t loyal anymore to their traditional brands. That changes everything. If we collaborate with someone, you can scale quicker … it…
TAIPEI (Reuters) -Former British prime minister Liz Truss said in Taiwan on Wednesday the West must avoid appeasing China and show unwavering support for the democratically governed island, in a speech that risks further damaging Britain’s ties with Beijing. Truss is the most well-known British politician to visit Taiwan since former prime minister Margaret Thatcher…
(Reuters) -Bankrupt satellite launch company Virgin Orbit said on Tuesday it entered into a “stalking horse” agreement with Stratolaunch to sell mainly its aircraft assets, including the “Cosmic Girl” carrier aircraft, for $17 million in cash. A stalking horse bid is used as a starting bid or minimally accepted offer that other interested bidders must…
FRANKFURT (Reuters) – Euro zone inflation accelerated last month, Eurostat said on Wednesday, confirming preliminary data pointing to increasingly stubborn price growth among the 20 nations sharing the euro. Overall price growth accelerated to 7.0% in April from 6.9% a month earlier, as rising services and energy costs offset a slowdown in food price growth….
FRANKFURT (Reuters) – The European Central Bank said on Wednesday it is looking for a new top bank supervisor to succeed Andrea Enria when his term runs out at the end of the year. Candidates to the role of chair of the ECB’s Supervisory Board, the most senior banking watchdog for the euro zone, must…
(Reuters) – Russian Foreign Minister Sergei Lavrov said on Wednesday that White House officials had requested the release of detained Americans Evan Gershkovich and Paul Whelan in conversations with a Kremlin official. In an interview with a Russian TV channel, Lavrov said White House officials “sometimes call” Yury Ushakov, a presidential aide specialising in foreign…
By Trixie Yap and Florence Tan SINGAPORE (Reuters) – Finnish refiner Neste expects renewable fuels from its new facilities in Singapore and the U.S. to drive its growth this year despite expectations of lower oil product margins in the second quarter, its chief executive said on Wednesday. “The macroeconomic situation is something that is affecting…
