TOKYO (Reuters) – Daimler Truck Holding AG and Toyota Motor Corp have struck a preliminary deal to combine their truck units in Japan, the companies said on Tuesday. Under the memorandum of understanding (MOU), the businesses of Daimler-owned Mitsubishi Fuso Truck and Bus Corp and Toyota subsidiary Hino Motors Ltd would be combined under a…
By Tommy Wilkes LONDON (Reuters) -Lloyd’s of London became the sixth organisation to quit a net-zero alliance for insurers within 36 hours on Friday, as a U.N.-backed coalition of financial groups warned about the fallout of “political attacks” on insurers in the United States. Lloyd’s joined Australia’s QBE Insurance in withdrawing from the Net-Zero Insurance…
MELBOURNE (Reuters) – BHP Group has teamed up with Microsoft Corp to improve copper recovery from its Escondida mine in Chile, the world’s biggest copper mine, by using machine learning and artificial intelligence, it said on Tuesday. BHP estimates the world needs to double the amount of copper produced over the next 30 years to…
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is expected to keep rates unchanged at its policy meeting this week as it continues to support the debt-laden economy amid persistently high inflation. The island nation defaulted on its foreign debt for the first time in April last year, as the worst financial crisis…
HONG KONG (Reuters) – Singapore’s private home prices have surpassed Hong Kong as the most expensive in Asia Pacific in 2023, while rents in the city-state were also the region’s highest, the Urban Land Institute said on Tuesday. The institute’s 2023 APAC Home Attainability Index showed the median price for a Singapore home was $1.2…
By Kirsty Needham SYDNEY (Reuters) -Papua New Guinea said a proposed security treaty with neighbour Australia would be delayed as it consults “domestic processes”, a week after signing a defence agreement with the United States that sparked student protests. Papua New Guinea (PNG), a few kilometres (miles) to Australia’s north, is being courted by China…
(Reuters) – Australian regulators have over the recent years fined a slew of companies over breaches and non-compliance issues, with the country’s “Big Four” banks penalised the heaviest over money laundering and plenty of other charges. Here are some of the major penalties imposed by the regulators: AMP LTD Troubled Australian wealth manager AMP Ltd…
By Lewis Jackson SYDNEY (Reuters) -Australia’s Treasury department may not renew a A$1 million audit contract with PricewaterhouseCoopers (PwC) when it ends this year, an official told a senate hearing amid a scandal over the firm’s misuse of confidential government tax plans. The global professional services firm is reeling after a former Australian tax partner…
By Philip Blenkinsop LULEA, Sweden (Reuters) – Top U.S. and European Union officials meet in Sweden on Tuesday to weigh how best to deal with China and cooperate on artificial intelligence and other future technology as well as EU complaints about Trump-era tariffs and U.S. green subsidies. U.S. Secretary of State Antony Blinken and European…
TOKYO (Reuters) – Toyota Motor Corp’s global sales rose by nearly 5% in April from a year earlier, boosted by stronger demand for hybrids and gasoline-powered cars in Japan and China. The Japanese automaker also reported better overseas sales of battery electric vehicles (EVs), bringing the total number of battery-powered units it sold in the…
