By Simon Lewis and Humeyra Pamuk WASHINGTON (Reuters) – The Biden administration has taken diplomatic steps that have slowed down a Chinese effort to project military power around the world, Secretary of State Antony Blinken said on Monday ahead of a visit to Beijing later this week. Washington’s top diplomat was asked at a press…
COLOMBO (Reuters) – Sri Lanka’s government has decided to extend a restriction on outward capital transactions by six months due to pressure on its limited foreign exchange reserves, cabinet spokesperson Bandula Gunawardena said on Tuesday. The decision will be revisited after debt talks are finalised in September, added Gunawardena, who is also the transport minister…
By Stella Qiu SYDNEY (Reuters) -Australian business and consumer surveys showed on Tuesday that storm clouds were gathering for the economy, with a slowdown in business activity accelerating and spending confidence staying near recession levels, amid warnings of more rate hikes to come. A survey from National Australia Bank (NAB) that is closely watched by…
(Reuters) – Intel is in talks with SoftBank Group Corp’s Arm to be an anchor investor in the chip designer’s initial public offering (IPO), a source familiar with the matter told Reuters on Monday. Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8 billion and $10 billion, Reuters…
(Reuters) – CharIN, the industry body promoting the Combined Charging System (CCS) standard to power electric vehicles, said on Monday Tesla’s charging model is not a standard yet and does not provide an open charging ecosystem for the industry. U.S. automakers General Motors and Ford said they will adopt Tesla’s model of charging cars with…
By Navya Mittal (Reuters) – Australia’s Domino’s Pizza Enterprises said on Tuesday it would shut 27 stores in Denmark, and its construction and supply arm in Australia, sending its shares as much as 11.9% lower in early trade to the bottom of the ASX 200 index. The Australian franchise said the streamlining of operations would…
By Krystal Hu SAN FRANCISCO (Reuters) – SoftBank Group Corp is planning a fresh round of layoffs at its Vision Fund investment arm, two people familiar with the matter said, the latest cost-cutting move at the Japanese conglomerate. The layoffs, which could be announced in the next two weeks, may impact up to 30% of…
By Trevor Hunnicutt WASHINGTON (Reuters) -The United States has made its concerns known to the Cuban government about Cuba hosting Chinese spy operations on its territory, White House spokesperson John Kirby said on Monday. Kirby said the bilateral relationship with China was tense at the moment, but President Joe Biden was committed to keeping the…
(Reuters) – Mining giant Rio Tinto said on Tuesday it will partner with Western Australia-based Gemco Rail to bring local iron ore rail car manufacturing and bearing maintenance to the Pilbara region. Rio intends to invest about A$150 million ($101.2 million) to acquire 100 domestically built ore rail cars over six years, it said. Adequate…
SYDNEY (Reuters) – Australia’s business conditions eased sharply in May, dented by slower gains in sales and employment, suggesting demand growth is moderating in the wake of the central bank’s most aggressive tightening campaign in its modern history. The survey from National Australia Bank Ltd (NAB) released on Tuesday showed its index of business conditions…
