By Svea Herbst-Bayliss NEW YORK (Reuters) – ValueAct Capital is pushing to oust Seven & i Holdings President Ryuichi Isaka, saying he is responsible for a “flawed strategy” and stating publicly for the first time that he is one of four directors it wants to replace at next month’s annual meeting. The San Francisco-based investment…
DETROIT (Reuters) – Facing a booming and hyper-competitive market for electric vehicles (EVs) in China, Ford Motor Co needs to reshape its brand for the world’s largest car market, Chief Executive Jim Farley said. “We’re going to have to rethink what the Ford brand means in a place like China,” Farley told reporters on Thursday…
A look at the day ahead in European and global markets from Tom Westbrook A month-long risky-asset rally, in the absence of any further banks collapsing, seems to be running out of steam as economic data offers few excuses for confidence. Softening second-tier data in the U.S. on Thursday put a bid under bonds for…
By Richard Cowan WASHINGTON (Reuters) – U.S. House Speaker Kevin McCarthy has begun working in earnest to persuade his fellow Republicans to support a $1.5 trillion increase in the nation’s debt ceiling, amid early indications of a possible revolt in his thin majority. McCarthy faces the toughest test of his young speakership with a bill…
By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s last exports of livestock by sea have been completed and live exports have ceased, its agriculture minister said on Friday, as it fully implemented a ban on export shipments of animals on the grounds of their welfare. The government announced in 2021 that shipping animals offshore, largely…
By Kantaro Komiya TOKYO (Reuters) – The Bank of Japan’s new chief Kazuo Ueda will not start unwinding its ultra-easy policy at April 27-28 meeting, nearly 90% of economists polled by Reuters said, as the chance of a surprise tweak at his first rate-review subsided. Since succeeding Haruhiko Kuroda early this month, Ueda has reassured…
By Jason Xue and Summer Zhen SHANGHAI/HONG KONG (Reuters) – Chinese asset managers are rushing to launch funds to woo investors into state-owned firms, whose shares have surged this year as Beijing pushes the market to revalue the previously overlooked state sector. Shares of state-owned enterprises (SOEs) have risen sharply since November, when top securities…
DETROIT (Reuters) – Electric car giant Tesla’s decision to cut prices to drive up sales volume reflects the pressure it faces from competition and an ageing product line-up, Ford Chief Executive Jim Farley said on Thursday. Farley said Tesla’s price cuts underscore intense competition in the two-row crossover or SUV segment of the auto market,…
TOKYO (Reuters) – The Group of Seven (G7) countries are considering a near-total ban on exports to Russia, Kyodo news agency reported on Friday, citing Japanese government sources. Bloomberg news on Thursday also reported that the United States and Ukraine’s allies were considering “an outright ban on most exports to Russia”. That report said officials…
By Leika Kihara and Takahiko Wada TOKYO (Reuters) -Japan’s consumer inflation held steady above the central bank’s target in March and an index excluding fuel costs rose at the fastest annual pace in four decades, data showed, indicating broadening price pressure in the world’s third-largest economy. The data may keep alive market expectations that the…
