ROME (Reuters) – Automotive Cells Company (ACC), a joint venture Stellantis has with Mercedes-Benz and TotalEenergies, said on Wednesday it plans to invest in Italy to build a battery plant. ACC said it would add to its facilities in France and in Germany a third production site in Termoli, in southern Italy, as agreed in…
SYDNEY/TOKYO (Reuters) – Hong Kong-based activist fund Oasis Management has voted in favour of a shareholder proposal demanding Toshiba Corp solicit buyout offers from private equity firms, a source with direct knowledge told Reuters on Wednesday. Oasis joined a chorus of other hedge fund investors who have opposed the Japanese conglomerate’s plan to break itself…
By Asha Sistla (Reuters) – Gold prices held steady on Wednesday as worries over the Ukraine crisis supported demand for the safe-haven metal, although calls from U.S. Federal Reserve officials for sharper interest rate hikes to combat inflation weighed on market sentiment. Spot gold was little changed at $1,920.84 per ounce by 0558 GMT. U.S….
SINGAPORE (Reuters) -Singapore’s February headline prices rose by their fastest pace in nine years due to higher private transport costs, while core prices eased for the first time since June last year, official data showed on Wednesday. Headline inflation rose by 4.3%, exceeding economists’ median forecast of 4.2%, according to a statement from the Monetary…
By Raphael Satter WASHINGTON (Reuters) – Hundreds of customers of digital authentication firm Okta Inc have possibly been affected by a security breach caused by a hacking group known as Lapsus$, the company said on Tuesday. The breach has sparked concern since the cyber extortion gang posted what appeared to be internal screenshots from within…
SHANGHAI (Reuters) – China’s Geely Automobile Holdings Ltd said on Wednesday its 2021 net profit fell 12%, as auto sales in the world’s biggest market were hit by the coronavirus pandemic and chip shortages. Geely Automobile, the world’s highest-profile Chinese automaker, thanks to investments in Volvo Cars and Daimler AG, posted 2021 profit of 4.85…
By Clare Jim HONG KONG (Reuters) -Cash-strapped Kaisa Group Holdings Ltd has joined a growing list of Chinese property developers unable to publish 2021 audited earnings by March 31 as required by listing rules, deepening market concern about the sector’s financial health. Kaisa late on Tuesday said a virus lockdown in Shenzhen left audit work…
By Karen Freifeld (Reuters) -A U.S. judge on Tuesday ruled that China’s ZTE Corp, a top telecommunications equipment maker, should be allowed to end its five-year probation from a 2017 guilty plea. The ruling came on the final day of the company’s probation for illegally shipping U.S. technology to Iran and North Korea. Trading in…
By Clare Jim HONG KONG (Reuters) – Cash-strapped Chinese developer Kaisa Group said a lockdown in Shenzhen had meant audit work has not been completed and it would not be able to publish its financial results by March 31, sending its shares tumbling. Due to the delay, its shares will be suspended from trade from…
By Sonali Paul MELBOURNE (Reuters) – Oil prices turned higher on Wednesday, erasing losses from the previous session, after industry data showed U.S. crude stocks fell last week, underlining how tight global supplies are amid the hit to Russian output from economic sanctions on Moscow. Brent crude futures climbed $1.06, or 0.9%, to $116.54 a…
