(Reuters) – An investment group chaired by former U.S. Vice President Al Gore on Wednesday launched a $1.7 billion fund to take minority stakes in private companies focused on what it called a sustainable future. Generation Investment, co-founded by Gore, said it has $36 billion under management in private- and public-company funds that focus on…
STOCKHOLM (Reuters) – Ericsson on Wednesday laid out plans to restructure its operating units to focus on mobile infrastructure and business customers, and announced that two senior executives will leave the company. A new business unit was created by merging digital services and managed services to increase its cloud expertise and build products for automation…
LONDON (Reuters) -British consumer price inflation hit an annual rate of 9.0% in April, the highest since official estimates began in the late 1980s, data showed on Wednesday. A Reuters poll of economists had pointed to a reading of 9.1%. The Office for National Statistics said consumer price inflation was probably last higher sometime around…
By Heekyong Yang SEOUL (Reuters) -Hyundai Motor Group said on Wednesday it plans to invest a total of 21 trillion won ($16.54 billion) through 2030 for the expansion of its electric vehicle (EV) business in South Korea. The South Korean auto group, which houses Hyundai Motor Co and Kia Corp, plans to annually build 1.44…
By Sam Nussey TOKYO (Reuters) – Japanese conglomerate Sony Group Corp said it is well-positioned to play a leading role in the metaverse, or immersive virtual worlds, which commentators speculate will massively disrupt industries and establish new powerhouses. The metaverse is a vague term encapsulating the idea that consumers will spend more time in online…
TOKYO (Reuters) – Toyota Motor Corp is using well water at its factories to avoid the impact of an industrial water supply disruption in central Japan, a spokesperson said on Wednesday. A leakage at a water facility in the Aichi prefecture has disrupted industrial water supply, affecting more than 130 business establishments, local government officials…
SHANGHAI (Reuters) – Shanghai authorities issued a new ‘white’ list containing 864 financial institutions, allowing them to resume work, three sources with direct knowledge of the matter said on Wednesday. The move is part of the financial hub’s plan to reopen broadly and allow normal life to resume after a nearly two-month-long lockdown that halted…
By Tom Westbrook SINGAPORE (Reuters) – Asia’s stockmarkets struggled to carry recent gains into a fourth straight session on Wednesday and the U.S. dollar steadied, as nagging doubts about inflation and the drag from rate rises crept back in to the global growth outlook. MSCI’s broadest index of Asia-Pacific shares outside Japan gave up earlier…
By Dan Burns (Reuters) -Chicago Federal Reserve Bank President Charles Evans on Tuesday said he supports moving to a shallower rate-hike path by July or September to allow the Fed time to assess inflation and the job market as it pushes borrowing costs up to neutral, and likely beyond. “I think front-loading is important to…
By Daniel Leussink and Tetsushi Kajimoto TOKYO (Reuters) -Japan’s economy shrank for the first time in two quarters in the first three months of the year as COVID-19 curbs hit the service sector and surging commodity prices created new pressures, raising concerns about a protracted downturn. The decline presents a challenge to Prime Minister Fumio…
