(Reuters) – Vedanta Group, the promoter of metals-to-oil conglomerate Vedanta Ltd, has signed a five-year loan for about $850 million with JPMorgan and Oaktree, Bloomberg News reported, citing people familiar with the matter. The billionaire Anil Agarwal-led group is relying on money from its units to tackle its debt burden, after its efforts to sell…
By Lucila Sigal BUENOS AIRES (Reuters) – Australian-based lithium miner Allkem Ltd, set for a $10.6 billion merger with U.S.-based Livent Corp, sees “enormous” opportunity in Argentina, a top executive said on Tuesday. Speaking at a mining event in Buenos Aires, Chief Sustainability and External Affairs Officer Karen Vizental said Argentina’s strong pipeline of lithium…
BEIJING (Reuters) – China’s new ambassador to the United States Xie Feng arrived in New York on Tuesday to take up his duties, Chinese state broadcaster CCTV reported. Xie was most recently vice foreign minister and in this post has been involved in high-profile diplomatic spats with Washington that have driven relations between the two…
BEIJING (Reuters) – China firmly opposed the agreement reached between the U.S. and Taiwan, urging the U.S. to “carefully handle economic and trade relations with Taiwan”, China’s ministry of commerce said on Tuesday. The U.S. Trade Representative’s office announced last week that the U.S. and Taiwan reached agreement on the first part of their “21st…
(Reuters) -GQG Partners has raised its stake in Gautam Adani’s conglomerate by about 10% and will take part in the group’s future fundraising, the U.S. investment firm said on Tuesday. Although the company did not disclose the total value of its stake in its statement, GQG Chief Investment Officer Rajiv Jain told Bloomberg News that…
By Andrew Mills DOHA (Reuters) -Standard Chartered CEO Bill Winters on Tuesday said the sale of Credit Suisse to UBS was “surprising” given the “unusual” terms of the deal, which prioritised shareholders over bondholders. “The conclusion was very surprising to me, in terms of the way that the bank was resolved through this very unusual…
WASHINGTON (Reuters) – The United States called for the immediate release of detained Wall Street Journal reporter Evan Gershkovich on Tuesday after Russia’s security service sought to extend his detention. “He shouldn’t be detained at all. Journalism is not a crime. He needs to be released immediately,” White House national security spokesman John Kirby told…
(Reuters) – Alibaba Group Holding Ltd’s cloud unit has started a round of downsizing that will impact 7% of the staff as it streamlines its business in preparation for an IPO, a source familiar with the matter said on Tuesday. The cloud unit has started to offer severance to employees, the source said. Alibaba did…
By Gloria Dickie and Kate Abnett LONDON (Reuters) -Over 100 members of the U.S. Congress and European Parliament called on Tuesday for Sultan al-Jaber to be removed as the designated head of the upcoming COP28 climate talks, saying the oil exec’s appointment threatened the integrity of negotiations. Jaber, who heads the United Arab Emirates oil…
BEIJING (Reuters) – China plans to build world-class advanced factory clusters in the Beijing-Tianjin-Hebei region focused on products such as electric vehicles and robots, it said on Tuesday, as the country seeks to confirm its global competitiveness. As tensions have mounted with the United States, Chinese leaders have pledged to build a modern industrial system…
