(Reuters) -Lithium companies Allkem Ltd and Livent Corp said on Wednesday they will combine in an all-stock $10.6 billion deal to create the world’s third-largest producer of the metal used to make electric vehicle batteries. Shares of Livent were up about 5.4% to $25.53 in late morning trading on the New York Stock Exchange. Allkem’s…
By Victoria Waldersee and Jan Schwartz BERLIN (Reuters) -Volkswagen defended its record in China and its decision to jointly own a plant in the Xinjiang region after activists and investors lashed out at the carmaker at a volatile annual general shareholder meeting on Wednesday. About ten activists, including one topless woman with ‘Dirty Money’ painted…
By Daniel Leussink TOKYO (Reuters) -Toyota Motor Corp on Wednesday said it expects operating profit to climb 10% this business year, with a five-fold jump in pure electric vehicle (EV) sales amid an easing in global supply chain disruption from a shortage of chips. The growth plan was unveiled by new CEO Koji Sato, installed…
(Reuters) – Several U.S. companies, including PepsiCo, Qualcomm and Cummins, struck a cautious note on their growth prospects in China, blaming what they said was a slower-than-expected recovery after the country lifted COVID curbs in December. China’s economy grew faster than expected in the first quarter but remarks from American companies with substantial operations in…
By Gabriela Baczynska BRUSSELS (Reuters) -European Union states were holding a first discussion on Wednesday on proposed new sanctions over Russia’s war in Ukraine that would target Chinese and Iranian firms and allow export curbs on third countries for busting trade restrictions. Talks among the EU envoys were set to be heated, according to one…
By David Dolan and Daniel Leussink TOKYO (Reuters) -A trio of European asset managers has submitted a shareholder proposal urging Toyota Motor Corp to improve disclosure of its lobbying on climate change, likely the first time such a resolution will go before the Japanese automaker’s investors. The move by the three funds, which collectively hold…
By Umit Ozdal and Daren Butler DIYARBAKIR, Turkey (Reuters) – Formerly a Tayyip Erdogan supporter, broadcaster Mehmet Dalgic switched allegiance to his main challenger after the ruling AK Party failed to offer sympathy for the destruction of his TV station in southeast Turkey in February’s earthquake. The lack of support was the final straw in…
By Arpan Chaturvedi, Aditi Shah and Aditya Kalra NEW DELHI (Reuters) – Go Airlines (India) Ltd was granted bankruptcy protection on Wednesday, bolstering the country’s fourth-largest carrier chances of getting back on its feet, but lessors are expected to mount legal challenges to repossess planes. The low-cost carrier, recently rebranded as Go First, was plunged…
A look at the day ahead in U.S. and global markets from Mike Dolan The Federal Reserve’s willingness to end its interest rate rise campaign here hinges just a few high-frequency data points over the months ahead – and April’s inflation readout sits high on that list. With markets edgy about the U.S. debt ceiling…
By Lewis Jackson, Siyi Liu and Melanie Burton SYDNEY (Reuters) – Australia exported roughly $40 million worth of copper ore and concentrate to China early this year, Australian customs data shows, a sign of industry hope that trade in the red metal will resume as diplomatic relations improve. Australian trade data shows exports worth A$60.5…
