By Noah Browning LONDON (Reuters) – Oil futures rose slightly on Thursday, recouping losses from earlier in the session as an expected rise in Chinese demand and further restrictions on Russian exports suggested market supply will remain tight. Brent crude futures rose 36 cents, or 0.4%, to $85.34 a barrel at 1415 GMT. U.S. West…
By Elisa Anzolin and Federico Maccioni MILAN (Reuters) -Italy’s EuroGroup Laminations, a maker of electric motor components, said on Thursday it planned to launch a new share offering in Milan as early as next month, as the market for public listings thaws after a tough 2022. Market volatility fuelled by Russia’s invasion of Ukraine and…
(Refiles to remove extra space in headline) SHANGHAI (Reuters) – JPMorgan and Standard Chartered won Chinese regulatory approval on Thursday to expand operations in China, as Beijing encourages expansion by foreign companies after lifting its restrictive COVID policies. China is speeding up the process of granting permissions to foreign institutions in a move to boost…
By Angelo Amante, Giuseppe Fonte and Ilona Wissenbach ROME/FRANKFURT (Reuters) – German carrier Lufthansa said on Wednesday it had offered to buy an minority stake in ITA Airways, betting on reviving the loss-making successor to Italy’s Alitalia and expanding its footprint in Europe. Lufthansa said Italy is the most important market outside of its existing…
By Aditi Shah and Arpan Chaturvedi NEW DELHI (Reuters) -A union in India has sued General Motors’ local unit and its global CEO for failing to pay court-ordered compensation to sacked factory workers, deepening the U.S. automaker’s struggles to exit the country years after it shuttered local operations. GM stopped selling cars in India in…
By Jayshree Pyasi MUMBAI (Reuters) – An Indian regulator is investigating investments between Nippon India Mutual Fund, the largest foreign-owned fund in the country, and Yes Bank between 2016 and 2019 for suspected misuse of investors’ money, sources said. At the time, the parent company of the mutual fund was owned by the Anil Dhirubhai…
By Gaurav Dogra (Reuters) – Chinese companies are expected to report their highest earnings growth in five years, Refinitiv data shows, as economic reopening after COVID lockdowns and accommodative monetary policy raise hopes for higher profits. According to Refinitiv IBES data, China’s large and mid-cap companies’ profits are seen rising 16.2% in 2023, the fastest…
By Summer Zhen Hong Kong (Reuters) – Hedge funds that bet on a swift shift in the country’s zero-COVID and regulatory policies in late 2022 while the stock market was tumbling and political uncertainty was intense were rewarded handsomely, according to sources and fund documents. The MSCI China index plunged by 17% in October as…
By Melanie Burton and Sonali Paul MELBOURNE (Reuters) – Australia’s most populous state is set to require coal miners to reserve up to 10% of production for the domestic market, as part of a national move to cap soaring energy prices, government officials said on Thursday. Australia’s Labor government led by Prime Minister Anthony Albanese…
(Reuters) – Citigroup Inc has discriminated against the firearms sector, the office of Texas Attorney General Ken Paxton said, making a decision that “has the effect” of halting the bank’s ability to underwrite most municipal bond offerings in Texas. Republicans have been ramping up pressure on the finance industry over what they say are their…
