By Marie Mannes STOCKHOLM (Reuters) – Volvo Cars said on Thursday 2023 was likely to be another challenging year, despite healthy demand for its vehicles, as the Swedish carmaker reported a fall in quarterly profit. Volvo Cars, which is majority-owned by Chinese automotive company Geely Holding, said its fourth-quarter operating profit dropped to 3.4 billion…
By Scott Murdoch and Shivam Patel SYDNEY/NEW DELHI (Reuters) -Financial index provider MSCI said on Thursday that some Adani securities should no longer be designated as free float, after market participants raised concerns about the eligibility of the Indian conglomerate’s companies for some of its indexes. Billionaire tycoon Gautam Adani has already has seen $110…
By Scott Murdoch and Shivam Patel SYDNEY/NEW DELHI (Reuters) -Financial index provider MSCI said on Thursday that some Adani securities should no longer be designated as free float, after market participants raised concerns about the eligibility of the Indian conglomerate’s companies for some of its indexes. Billionaire tycoon Gautam Adani has already has seen $110…
By David Lawder and Kanishka Singh SPRING HILL, Tenn./ WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Wednesday she still hoped to visit China but offered no details on plans or timing. A team of U.S. Treasury officials was scheduled to travel to China this month to prepare for a visit by Yellen…
Stockholm (Reuters) -Volvo Cars said on Thursday that 2023 is likely to be another challenging year despite healthy demand for its vehicles as the Swedish carmaker reported a fall in quarterly profit. Volvo Cars, which is majority-owned by Chinese automotive company Geely Holding, said its fourth-quarter operating profit dropped to 3.4 billion crowns ($322.2 million)from…
By Gaurav Dogra (Reuters) – Emerging Asia ex-China stocks received massive inflows in January, with investors expecting the U.S. Federal Reserve to slow down the pace of its rate hikes and as the dollar weakened against regional currencies. Data from stock exchanges in Taiwan, India, the Philippines, Vietnam, Thailand, Indonesia and South Korea showed that…
By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) -A consortium led by Japan Industrial Partners (JIP) has formally submitted a proposal to Toshiba Corp to take the troubled conglomerate private after securing commitments for 1.4 trillion yen ($10.6 billion) of loans, sources said. Major Japanese banks, including Sumitomo Mitsui Financial Group, had issued letters of…
(Reuters) – Index provider MSCI said on Thursday it had determined that some Adani securities should no longer be designated as free float after market participants raised concerns about the eligibility of the Indian conglomerate’s companies for some of its indexes. Changes for Adani securities associated with its MSCI Global Investable Market Indexes are due…
SINGAPORE (Reuters) – Oil edged up in early trade on Thursday, extending gains for a fourth consecutive day, as crude loading disruptions in Turkey and optimism over China’s recovering demand continued to buoy sentiment. Brent crude futures rose 14 cents, or 0.2% to $85.26 a barrel by 0239 GMT, while U.S. West Texas Intermediate (WTI)…
By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) -A Japan Industrial Partners-led consortium has secured commitments for 1.4 trillion yen ($10.63 billion) of loans to finance the buyout of Toshiba Corp, two sources said, removing a major hurdle in the group’s long effort to take the troubled conglomerate private. Major Japanese banks, including Sumitomo Mitsui…
