BERLIN (Reuters) – A German court will rule next week in a case brought by Genting Group against a German regional government after a row over funding for cruise shipbuilder MV Werften, which filed for insolvency on Monday. Genting, led by Malaysian tycoon Tan Sri Lim Kok Thay, bought MV Werften in 2016. The pandemic…
By Andrea Shalal WASHINGTON (Reuters) -The World Bank on Tuesday cut its forecasts for economic growth in the United States, the Euro area and China and warned that high debt levels, rising income inequality and new coronavirus variants threatened the recovery in developing economies. It said global growth is expected to decelerate “markedly” to 4.1%…
(Reuters) – The Federal Reserve may need to raise interest rates at least three times this year, starting with a rate increase at the March meeting, to respond to a tight labor market and inflation that is persistently high and more broad based, Cleveland Fed President Loretta Mester said on Tuesday. “If the economy in…
(Reuters) – CVS Health Corp on Tuesday raised its adjusted earnings forecast for 2021, citing strong retail sales helped by higher demand for COVID-19 vaccines as well as over-the-counter testing in November and December. The company, best known for its chain of drugstores, raised its forecast for 2021 adjusted profit per share to a range…
FRANKFURT (Reuters) – Germany’s BioNTech said on Tuesday it would likely generate up to 17 billion euros ($19 billion) in 2022 revenue from the COVID-19 vaccine it co-developed with partner Pfizer. In presentation slides for J.P. Morgan’s annual healthcare conference, which is being held virtually this year, BioNTech said it expects 13 billion to 17…
SEOUL (Reuters) – South Korea’s telecommunications regulator said on Tuesday Apple Inc had submitted plans to allow third-party payment systems on its App Store to comply with a law banning major app store operators from forcing software developers to use their payments systems. The Korea Communications Commission (KCC) had requested Apple and Alphabet’s Google to…
VILNIUS (Reuters) – Taiwan will launch a $1 billion credit programme to help fund joint projects between Lithuanian and Taiwanese companies in six business categories, a Taiwan government minister said on Tuesday. Lithuania is under pressure from China https://www.reuters.com/world/asia-pacific/china-downgrades-its-diplomatic-ties-with-lithuania-over-taiwan-issue-2021-11-21 which claims democratically ruled Taiwan as its own territory, to reverse a decision last year to…
By Alex Lawler LONDON (Reuters) – Oil rose to around $82 a barrel on Tuesday, supported by tight supply and hopes that rising coronavirus cases and the spread of the Omicron variant will not derail a global demand recovery. OPEC supply additions are running below their allowed increase under a pact with allies due to…
By Howard Schneider WASHINGTON (Reuters) – High inflation and a strong recovery will require the Federal Reserve to raise interest rates at least three times this year, beginning as soon as March, and warrant a rapid rundown of Fed asset holdings to draw excess cash out of the financial system, Atlanta Fed President Raphael Bostic…
LONDON/BENGALURU (Reuters) -Trading on the London Metal Exchange (LME) resumed on Tuesday morning after a power outage as the world’s top marketplace for industrial metals struggles with declining volumes. Activity resumed at 0615 GMT following the outage at a third-party data centre on Monday evening, the LME said. The exchange, owned by Hong Kong Exchanges…
