By Ellen Zhang and Ryan Woo BEIJING (Reuters) -China’s factory activity unexpectedly contracted in April as orders fell and poor domestic demand dragged on the sprawling manufacturing sector, a private survey showed on Thursday, imperilling the broader economic outlook for the second quarter. The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) fell to 49.5 in…
By Fransiska Nangoy, Stefanno Sulaiman JAKARTA (Reuters) -Indonesia has cut tax incentives to limit investment in lower quality nickel products as it aims to extract as much value as possible from its rich nickel reserves and push for further downstream investment, a cabinet minister said on Wednesday. The government is aiming for around $95 billion…
MELBOURNE (Reuters) -Albemarle has agreed to double the capacity at its lithium hydroxide processing operations in Western Australia to 100,000 tonnes by 2026 and spend around $1.5 billion to build two more trains at the facility, Albemarle said on Wednesday. Construction is expected to start immediately at Albemarle’s Kemerton operations south of Perth, with the…
SYDNEY (Reuters) – Australia’s exports to China surged to record highs in March as the Asian giant sucked in more iron for its steel industry and lowered barriers to thermal coal shipments amid thawing diplomatic relations. Data out on Thursday showed exports of Australian goods to China hit A$19 billion ($12.71 billion) in March, a…
By Ross Kerber (Reuters) – Median pay for top U.S. CEOs rose 7.7% last year to a record $22.3 million, a new study found, as big stock awards helped the group stay ahead of inflation while U.S. workers’ pay fell behind. Among those receiving big pay increases were the CEOs of Jefferies Financial Group and…
By Humeyra Pamuk WASHINGTON (Reuters) – U.S. citizen Jose Pereira, who was “wrongfully detained” in Venezuela exactly one year ago, stood meters away from the White House on Wednesday and pleaded with U.S. President Joe Biden to step up efforts to bring home Americans detained abroad. Pereira was among the executives who worked for U.S….
By Leika Kihara (Reuters) -The International Monetary Fund on Thursday warned of “uncertainty” around the direction of Japan’s monetary policy, saying a possible shift from ultra-low interest rates could have a significant impact on global financial markets. Krishna Srinivasan, director of the IMF’s Asia and Pacific Department, also pointed to risks surrounding Asia’s economic outlook…
By Byron Kaye and Himanshi Akhand (Reuters) – National Australia Bank Ltd, the country’s No. 2 lender, fell short of analyst forecasts in half-year profit released on Thursday and took a hit to its share price after warning that the windfall from rising interest rates had peaked. Profit at the bank, also Australia’s biggest business…
(Reuters) – LATAM Airlines reported a first-quarter net profit of $121.8 million, the company said on Wednesday, reversing a net loss of $380 million in the year-ago period. The airline, created by the 2012 merger of Chile’s LAN with Brazilian rival TAM, operates units in Chile, Brazil, Colombia and Peru. Revenue for Santiago-based LATAM during…
(Reuters) – LATAM Airlines reported a first-quarter net profit of $121.8 million, the company said on Wednesday, reversing a net loss of $380 million in the year-ago period. The airline, created by the 2012 merger of Chile’s LAN with Brazilian rival TAM, operates units in Chile, Brazil, Colombia and Peru. Revenue for Santiago-based LATAM during…
