(Reuters) -Hong Kong’s Cathay Pacific Airways on Thursday said it intends to purchase up to 32 Airbus A321neo and A320neo aircraft to invest and upgrade its fleet, bringing the carrier’s new aircraft deliveries to up to more than 70. “These aircraft feature the latest technological enhancements to provide a quieter, more comfortable, and more fuel-efficient…
(Reuters) – Ratings agency Moody’s on Thursday downgraded Chinese developer Country Garden’s corporate family rating (CFR) to Caa1 from B1, citing heightened liquidity and refinancing risk after the company missed bond payments. Caa1 rating is a level that signals a very high credit risk, according to the ratings agency’s website. Country Garden expects to record…
By Foo Yun Chee BRUSSELS (Reuters) -The European Commission will analyse the U.S. ban on new U.S. investment in China in sensitive technologies as the issue is also important to the European Union’s economic security, the EU executive said on Thursday. U.S. President Joe Biden on Wednesday signed an executive order to prohibit or restrict…
By Karen Freifeld, Andrea Shalal and David Shepardson NEW YORK/WASHINGTON (Reuters) -President Joe Biden on Wednesday signed an executive order that will prohibit some new U.S. investment in China in sensitive technologies like computer chips and require government notification in other tech sectors. The long-awaited order authorizes the U.S. Treasury secretary to prohibit or restrict…
TOKYO/SEOUL (Reuters) -Flights were cancelled and trains halted on Wednesday as heavy rain from Typhoon Khanun pounded southern regions of Japan and South Korea, just as another storm approached from the east to threaten Tokyo ahead of Japan’s peak summer holiday season. Khanun could make landfall at the southeastern South Korean port city of Tongyeong…
By Marco Garcia KAHULUI, Hawaii (Reuters) -At least 36 people have died after wildfires, fanned by winds from a faraway hurricane, devastated much of the resort city Lahaina on Hawaii’s Maui island, the Maui County said in a statement late on Wednesday. Multiple neighborhoods were burnt to the ground as the western side of the…
By Nandita Bose BELEN, New Mexico (Reuters) -U.S. President Joe Biden took his economic pitch to New Mexico on Wednesday to boast how his signature legislation helped turn a previously shuttered facility into a wind tower manufacturing facility. Biden, a Democrat who is running for reelection, said the Arcosa plant is the latest piece of…
By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) – Thyssenkrupp on Thursday flagged a new cost-cutting programme to raise its performance and improve returns for shareholders, and said it now expects to hit the upper end of its profit outlook following solid third-quarter results. The company has been making strides in its turnaround in the…
BEIJING (Reuters) – Two lithium mine auctions in China’s southwestern Sichuan province that began this week have received nearly 7,000 bids, with prices hundreds of times higher than starting levels and rising as of Thursday, a provincial government body said. An auction for a five-year exploration right to the Jiada Lithium Mine in Maerkang city…
By John Revill ZURICH (Reuters) -Siemens missed profit forecasts in its latest quarter, the German engineering company reported on Thursday, noting weakening demand in several markets including China. The trains-to-factory-automation manufacturer said China, long a driver for global manufacturing and its third largest market, had seen only a tepid recovery after its zero-COVID shutdown last…
