By Gwladys Fouche and Victoria Klesty OSLO (Reuters) – Norway’s $1.4 trillion sovereign wealth fund on Tuesday welcomed a government request that it consider investing in unlisted equities and said it will make a recommendation by December. The Norwegian Finance Ministry said last month it had asked the fund, the world’s largest single stock market…
By Anirban Sen NEW YORK (Reuters) – Mark Gerstein, a veteran dealmaker who stepped down from law firm Latham & Watkins in December, has joined PJT Partners Inc, the investment bank led by Paul Taubman, as a senior adviser. Gerstein, who spent 27 years at Latham & Watkins and served as the firm’s global co-chair…
BERLIN/SHANGHAI (Reuters) – Volkswagen is investing around 1 billion euros ($1.10 billion) in a new development and procurement centre for electric vehicles in Hefei, China, the company said on Tuesday, in a bid to better adapt its cars to Chinese customers’ tastes. The aim of the centre, dubbed “100%TechCo”, will be to reduce development times…
By David Milliken LONDON (Reuters) -British wages rose faster than anticipated last month, in a move that economists judge may tip the Bank of England towards a further rise in interest rates next month, despite an unexpected increase in joblessness too. The Office for National Statistics (ONS) said the unemployment rate edged up to 3.8%…
HONG KONG (Reuters) – Top shareholder of HSBC renewed its call for breaking up of the Asia-focused bank on Tuesday, saying the lender has failed to address key business model challenges which has resulted in deterioration in its operating performance. Ping An Asset Management Company (Ping An AMC) said in a statement HSBC has “drained”…
ROME (Reuters) – British American Tobacco and Amazon are under investigation in Italy over what regulators say is potentially misleading advertising for the Glo Hyper X2 tobacco heater, the Italian Competition Authority said on Tuesday. “It is not made clear, or it is inadequately stated” in the advertising that Glo Hyper X2 is a nicotine-based…
By Kevin Yao and Joe Cash BEIJING (Reuters) – China’s economy grew at a faster-than-expected pace in the first quarter, as the end of strict COVID curbs lifted businesses and consumers out of crippling pandemic disruptions, although headwinds from a global slowdown point to a bumpy ride ahead. More than a year-long sweeping streak of…
TOKYO (Reuters) – Japanese automaker Nissan Motor aims to have seven electrified vehicle models by 2026 and 80% of its line-up to be electrified by 2030 in China, chief operating officer Ashwani Gupta said on the sidelines of the Shanghai auto show on Tuesday. He said that China had already passed the tipping point where…
By Jack Queen (Reuters) – One of the most closely watched U.S. media trials in decades kicks off in a Delaware court on Tuesday as Fox Corp and Fox News face a $1.6 billion defamation lawsuit by Dominion Voting Systems over the network’s coverage of false claims that the ballot-counter company rigged the 2020 presidential…
LONDON (Reuters) – More companies in England and Wales entered insolvency during March than at any point since monthly records started three years ago, according to official data on Tuesday that showed a 16% increase on a year ago. The Insolvency Service Agency reported 2,457 corporate insolvencies last month, up from 1,784 in February. The…
