MILAN (Reuters) – The head of Telecom Italia (TIM) said the company’s service business is “already sustainable” as a standalone entity and is expected to generate strong core profit this year. Chief Executive Pietro Labriola on Thursday asserted that TIM had a viable future should he manage to complete the sale of its domestic landline…
BEIJING (Reuters) – Australia’s Trade Minister arrived in Beijing On Thursday to meet his Chinese counterpart, as Canberra pushes for the removal of all trade barriers and for diplomatic relations to stabilise. Trade Minister Don Farrell said he would meet Chinese Commerce Minister Wang Wentao in Beijing and “be advocating strongly for the full resumption…
By Archishma Iyer (Reuters) – Australian lithium producer Allkem surged more than 14% on Thursday after announcing a $10.6 billion merger with U.S- based Livent to create the third-largest producer of the key component used in electric-vehicle batteries. Allkem shares soared as much as 14.2% to A$14.740 by 0014 GMT, touching their highest since Nov….
By Herbert Lash NEW YORK (Reuters) – A gauge of global stock markets rose and bond yields slid on Wednesday after data showed U.S. consumer prices in April rose at a slightly slower-than-expected pace, suggesting the Federal Reserve is succeeding in taming high inflation. The Consumer Price Index rose 0.4% after rising 0.1% in March,…
By Laura Matthews NEW YORK (Reuters) – The dollar remained stable against a basket of currencies on Wednesday as data showed inflation slowed slightly more than expected last month but gave traders little clarity on the U.S. monetary policy outlook. A U.S. Labor Department report on Wednesday showed the annual increase in consumer prices dipped…
(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 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…
By Scott Murdoch and Lewis Jackson SYDNEY (Reuters) -Planning for Virgin Australia’s upcoming initial public offering (IPO) is “well advanced”, Chairman Ryan Cotton said on Wednesday in an internal email that also outlined bonus payments to the airline’s shareholders and staff after a return to profit. Cotton said Australia’s second-biggest airline was days away from…
By Renju Jose SYDNEY (Reuters) – Australia’s Labor government said on Wednesday the billions in cost-of-living relief unveiled in the federal budget for families and businesses will not worsen inflationary pressures and put more pressure on the central bank to lift rates further. Australia on Tuesday boasted the first budget surplus in 15 years after…
By Herbert Lash and Alun John NEW YORK/LONDON (Reuters) -A gauge of global equities fell on Tuesday as investors grew cautious ahead of key data on U.S. consumer prices, while the impasse over the U.S. debt ceiling sparked a sharp sell-off in short-dated Treasury bills. Disappointing forecasts from companies such as PayPal and Apple supplier…
