KARACHI, Pakistan (Reuters) – The International Monetary Fund (IMF) Executive Board meeting on Pakistan has been scheduled for July 12, the lender confirmed in email on Wednesday. Pakistan secured a badly needed $3 billion stand-by arrangement (SBA) from the International Monetary Fund on Friday, giving the South Asian economy a much-awaited respite as it teeters…
(Reuters) – Hydrogen firm ThyssenKrupp Nucera has priced its initial public offering at 20 euros ($21.72) per share, implying a market capitalisation of around 2.5 billion euros, the company said in a statement on Wednesday. The company and its shareholders, Germany’s ThyssenKrupp and Italy’s De Nora, expect to raise up to 605 million euros through…
By Daina Beth Solomon and Dave Graham MEXICO CITY (Reuters) -German carmaker Audi is this month scheduled to announce plans to begin producing electric vehicles in Mexico, according to three people with knowledge of the matter, joining other major carmakers in ramping up EV output in Mexico. Asked to comment, a spokesman in Germany said…
(Reuters) – Canada’s financial watchdog on Wednesday released new guidelines for lenders aimed at protecting mortgage holders facing high borrowing costs or who are at the risk of defaulting. The Financial Consumer Agency of Canada (FCAC) said federally regulated financial institutions, including banks, must work to help at-risk consumers by “providing tailored support” that could…
BERLIN (Reuters) -Germany’s cabinet approved the first draft of its 2024 budget and financial plans through 2027, the finance ministry said on Wednesday, as Europe’s biggest economic power curbs spending that surged in response to COVID-19 and the Ukraine war. “Today we have adopted a budget proposal aligned with fiscal realities,” Finance Minister Christian Lindner…
By Amruta Khandekar and Shreyashi Sanyal (Reuters) -Eurozone blue-chip stocks fell on Wednesday as tech shares were pressured ahead of U.S. Federal Reserve’s minutes from the June policy meeting, while weak data from the single-currency bloc and China stoked fears of a sharp hit to global growth. The EURO STOXX 50 index closed 0.9% lower,…
By Anirban Sen and Abigail Summerville NEW YORK (Reuters) -Family-owned food giant Mars Inc on Wednesday agreed to buy Kevin’s Natural Foods, which is known for its sous-vide meals, sauces, and side dishes, the companies said. The deal values private equity-backed Kevin’s at nearly $800 million, according to people familiar with the matter. Kevin’s started…
(Reuters) – Utility firm Duke Energy said on Wednesday it would sell its commercial distributed generation business to private equity firm ArcLight Capital Partners in a $364 million deal. The business includes operating assets of REC Solar, which Duke had acquired in 2015, development pipeline and operations and maintenance portfolio, as well as distributed fuel…
By Nick Carey LONDON (Reuters) -A lack of data on electric vehicle (EV) batteries continues to challenge insurers who are forced to scrap EVs after mild accidents, potentially undermining EV adoption, Thatcham Research said on Wednesday. The British automotive risk intelligence company cited a “concerning lack of affordable or available repair solutions and post-accident diagnostics”…
MILAN (Reuters) -The head of carmaker Stellantis said Beijing’s decision to restrict exports of two metals widely used in semiconductors and electric vehicles should not push Western companies to reduce their exposure to China. China on Monday announced controls from Aug. 1 on its exports of some gallium and germanium products prompting fears of new…
