(Reuters) – Hyundai Motor, the No. 3 global automaker by sales with its affiliate Kia Corp, outlined plans on Tuesday for a deepened push into battery development, steps to cut the cost of new electric vehicles and a restructuring of its China operations. Here are some of the highlights from Hyundai’s investor day presentation: CHINA…
A look at the day ahead in U.S. and global markets from Mike Dolan Wall St looks set to return from the ‘Juneteenth’ holiday in a slightly more cautious mood as hawkish European policymakers contrast with another interest rate cut in China and as U.S. housing dominates the data slate. Both the S&P500 and Nasdaq…
By Sinchita Mitra (Reuters) – Continued hiring caution and declining demand in the U.S. and life sciences sector dented SThree’s half-year net fees from permanent hires, although strong demand for contract workers sustained the British recruiter’s overall growth. Still-high inflation has pushed companies to cut jobs, freeze hiring, and to favour temporary over permanent roles…
By Arathy Somasekhar HOUSTON (Reuters) – U.S. sweet and sour oil differentials narrowed significantly this month, pricing data showed, as demand for higher sulfur crudes climbed from refineries and exporters while supplies tightened. The spread between Light Louisiana Sweet and Mars sour crude, both priced in Louisiana, narrowed to $1.70 a barrel last week from…
(Reuters) – Beleagured U.S. medical technology company Surgalign Holdings filed for a voluntary Chapter 11 bankruptcy on Monday. Surgalign filed for the bankruptcy with estimated assets and liabilities in the range of $50 million to $100 million in the Bankruptcy Court for the Southern District of Texas. The Deerfield, Illinois-based company said in March that…
(Refiles to make clear in headline IMCO is a pensions manager) By Tommy Wilkes, Simon Jessop and Supantha Mukherjee LONDON (Reuters) – Canada’s Investment Management Corporation of Ontario (IMCO) has invested $400 million in battery producer Northvolt, which will help the Swedish company expand production of lithium-ion batteries ahead of a possible initial public offering….
(Reuters) – Alibaba Group said on Tuesday its CEO and chairman Daniel Zhang will step down from those roles to focus on its cloud division as the Chinese e-commerce giant moves ahead with a plan to split into six business units. The CEO role will be handed over to Eddie Yongming Wu, chairman of Alibaba’s…
SINGAPORE (Reuters) – Singapore for the first time became the most expensive city for goods and services for wealthy people, overtaking Hong Kong, London and New York, according to a report on Tuesday. Cars and essential health insurance in Singapore are 133% and 109% more expensive than the global average, among 12 consumer goods and…
LONDON(Reuters) – JPMorgan has made a strategic investment in Cleareye.ai, a financial technology firm focused on trade finance, the companies said on Tuesday. The parties, which entered into a commercial partnership last September, did not provide the financial terms of the transaction. Trade finance refers to financial products offered by banks and other institutions that…
(Reuters) – Australian airline Regional Express on Tuesday forecast an operational loss for fiscal 2023, citing a global shortage of pilots and engineers, as well as significantly lower business travel in May and June. The carrier said it was now expecting to record a group operational loss of A$35 million ($23.8 million) for the financial…
