MILAN (Reuters) -Pirelli said on Thursday it expected Italy would conclude its review of governance agreements involving the holding in the tyre maker by China’s Sinochem after early June, pushing it to further postpone the appointment of its new board. Earlier this year, Pirelli said Sinochem, its largest shareholder, with a 37% stake, notified Italy’s…
By Gibran Naiyyar Peshimam and Asif Shahzad ISLAMABAD (Reuters) -Pakistan’s Supreme Court ruled on Thursday that former Prime Minister Imran Khan’s arrest was unlawful, two days after his detention on graft allegations triggered deadly violence, escalating his tussle with the powerful military. The protests coincide with Pakistan’s worst economic crisis in decades, with record high…
By Michael Erman and Bhanvi Satija NEW YORK (Reuters) -Pfizer Inc Chief Executive Albert Bourla on Thursday called U.S. plans to negotiate drug prices for its Medicare health program “negotiation with a gun to your head” and said he expects drugmakers to sue in an attempt to halt the process. “It is not negotiation at…
By Alexander Villegas SALAR DE ATACAMA, Chile (Reuters) – Albemarle Corp hopes to expand its lithium operations in Chile’s Atacama salt flat as early as 2028 with direct lithium extraction (DLE) technology under its current government contract, Ignacio Mehech, the company’s Chile manager, told Reuters. “Depending on environmental and other permits needed in Chile, as…
By Svea Herbst-Bayliss (Reuters) – Activist investor Elliott Investment Management L.P. disclosed a large investment in Goodyear Tire & Rubber Co on Thursday and said it wants the company to strengthen its financial position by refreshing the board, selling its stores and conducting an operational review. Elliott holds a 10% stake in the 125-year-old company,…
By Max Hunder KYIV (Reuters) – The EU has not observed any significant smuggling of weapons into Europe from wartime Ukraine, the European Commission’s top internal affairs official said on Thursday during a visit to Kyiv. “I must say that we have not seen any industrial smuggling of firearms out of Ukraine,” European Home Affairs…
By Naomi Rovnick LONDON (Reuters) -It’s the best performing currency this year in the G10 group of advanced economies against the dollar. But sterling’s strengthening streak is about to be put to the test as a succession of rate hikes heighten worries about growth. Britain’s pound, at around $1.251, on Thursday edged back from recent…
(Reuters) -China’s e-commerce giant JD.com Inc said on Thursday its chief executive Xu Lei will step down, with the company’s chief financial officer taking on the role. Xu Lei, who has officially been CEO for a year, said on a call with analysts after the company reported first quarter earnings that he had resigned to…
UPINGTON, South Africa (Reuters) – When she was a girl in South Africa’s Northern Cape, Katrina Esau stopped speaking her mother tongue, N|uu, after being mocked by other people and told it was an “ugly language”. Now at age 90, she is the last known speaker of N|uu, one of a group of indigenous languages…
By David Lawder WASHINGTON (Reuters) – The International Monetary Fund said on Thursday that a U.S. debt default prompted by failure to raise the country’s debt ceiling would have “very serious repercussions” for the U.S. economy as well as the global economy, including likely higher borrowing costs. IMF spokesperson Julie Kozack also told a news…
