By Joey Roulette (Reuters) – Satellite launch company Virgin Orbit is planning to move back the deadline for prospective bidders to buy its assets by a handful of days, according to two sources familiar with the matter. The development was first reported by Sky News. Virgin Orbit, founded by billionaire Richard Branson, filed for Chapter…
(Reuters) – Property developer China Evergrande Group said on Friday it has received an enforcement notice from the court in relation to arbitral proceedings against its unit and executive director by Hexin Hengju (Shenzhen) Investment Holding Center. The group said the enforcement notice requires it to pay compensation of about 770 million yuan ($111.40 million)…
By Nichola Groom and David Lawder (Reuters) -The U.S. Treasury Department on Friday clarified that developers of solar energy projects can claim a new subsidy for facilities built with American-made products even if the system’s panels contain cells made entirely with Chinese materials. The long-awaited rules around how companies can claim a new tax credit…
(Reuters) – U.S. equity funds faced huge outflows in the week ended May 10, on caution over the U.S. debt ceiling and concerns over disappointing earnings forecasts from some top companies. According to Refinitiv Lipper, U.S. equity funds faced outflows worth $5.7 billion, which was their seventh consecutive week of outflows. Investors were looking for…
By Tom Käckenhoff DUESSELDORF (Reuters) -Thyssenkrupp has urged Berlin to move quickly to approve hundreds of millions in subsidies for a landmark carbon-neutral steel site, with one of the company’s labour bosses saying workers’ patience had run out. The criticism is mainly aimed at Economy Minister Robert Habeck, who visited Thyssenkrupp’s steel hub in Duisburg…
MANILA (Reuters) – The International Monetary Fund (IMF) kept its economic growth forecast for the Philippines this year at 6.0%, but said on Friday high inflation was a downside risk to the outlook and should be tackled with both fiscal and monetary measures. The IMF projected next year’s GDP expansion for the Philippines to come…
(Reuters) – Netflix Inc plans to cut its spending by $300 million this year, the Wall Street Journal reported on Friday, citing people familiar with the matter. Company leaders urged staffers to be judicious with their spending, including in relation to hiring, but said there would be no hiring freeze or additional layoffs, according to…
By Aftab Ahmed NEW DELHI (Reuters) – India’s annual retail inflation eased to 18-month low in April, staying well below the Reserve Bank of India’s (RBI) upper tolerance limit for the second consecutive month, as food prices eased. Annual retail inflation eased to 4.7% in April from 5.66% in the previous month, government data showed…
(This May 11 story has been corrected to remove reference to more weight in paragraph 1) By Belén Carreño MADRID (Reuters) – Spanish Prime Minister Pedro Sanchez will ask U.S. President Joe Biden in Washington on Friday to listen to the opinions of non-NATO members such as China and Brazil on the war in Ukraine,…
WASHINGTON (Reuters) – U.S. consumer sentiment slumped to a six-month low in May as a standoff to raise the federal government’s borrowing cap fanned worries about the economy’s outlook, a survey showed on Friday. The University of Michigan’s preliminary reading on the overall index of consumer sentiment came in at 57.7 this month, the lowest…
