TOKYO (Reuters) -Japan’s Mazda Motor needs to overhaul its strategy in China, the world’s biggest auto market, where it faces increasingly tough competition from domestic players, the automaker’s chief executive said on Friday. CEO Masahiro Moro said business conditions for Mazda in China, where it has a joint venture with Chongqing Changan Automobile and China…
By Marie Mannes STOCKHOLM (Reuters) -Swedish property group SBB on Friday ruled out state support as it sought to repair its battered finances, marred by a heavy loss and dwindling cash. The $13 billion group, which owns swathes of property across Sweden including hospitals and schools, racked up a pre-tax loss of 11.1 billion Swedish…
SHANGHAI (Reuters) – Several workers at Tesla’s Shanghai plant, its biggest manufacturing hub globally by output, said they had been awarded a large increase in their latest quarterly performance bonuses. The workers said they welcomed the award after the U.S. electric automaker had cut bonuses for many staff in the previous quarter. Discontent at the…
By Lewis Jackson SYDNEY (Reuters) -An Australian real estate investment trust (REIT) has limited how much investors can withdraw from one of its largest office funds citing challenging property conditions, in the latest sign of trouble for the embattled commercial property sector. Investors in the unlisted A$2.5 billion ($1.72 billion) Charter Hall Direct PFA Fund…
By Guy Faulconbridge MOSCOW (Reuters) -Russian President Vladimir Putin offered Wagner mercenaries the opportunity to keep fighting at a meeting just days after their failed mutiny but suggested Yevgeny Prigozhin be moved aside in favour of a different commander, the Kommersant newspaper said. Putin initially said he would crush the June 23-24 mutiny, comparing it…
LONDON (Reuters) – Investors piled into bonds and stocks while shedding cash in the week to Wednesday, according to a report on Friday from Bank of America (BofA) Global Research. The report said this reflected the “end of inflation, end of war, end of U.S. dollar bull” following data this week that showed the U.S….
By Martin Coulter LONDON (Reuters) -Finland’s Nokia cut its annual outlook on Friday and Swedish rival Ericsson reported plunging quarterly profits, as a slowdown in consumer spending hit sales of telecommunications gear. Nokia’s shares were down 9.6% in morning trade to their lowest since April 2021, while Ericsson shares were down 8.7%. Fears of an…
By Andrew Osborn MOSCOW (Reuters) – Russia accused the West on Friday of sponsoring “nuclear terrorism” after authorities said a Ukrainian drone had struck the western Russian town of Kurchatov, where a nuclear power station similar to the ill-fated Chernobyl plant is located. Roman Starovoit, the governor of Russia’s Kursk region which borders Ukraine, said…
By Michelle Nichols UNITED NATIONS (Reuters) -North Korea’s launch of an intercontinental ballistic missile (ICBM) was an exercise of its right to self-defense “to deter dangerous military moves of hostile forces and safeguard the security of our state,” the country’s U.N. envoy told the Security Council on Thursday during a rare appearance. The 15-member Security…
(Reuters) – Former Fox News host Tucker Carlson and former White House adviser Neil Patel are looking to raise funds to start a new media company that could potentially be anchored on Twitter, the Wall Street Journal reported on Friday. The duo is looking to raise hundreds of millions of dollars to fund the company,…
