By Nora Buli OSLO (Reuters) – Norway unveiled plans on Wednesday for a major expansion in offshore wind energy by 2040, aiming to turn a country that has built its wealth on oil and gas into an exporter of renewable electricity. The centre-left government, which has come under fire from environmentalists for continuing to support…
STOCKHOLM (Reuters) -Marlboro-maker Philip Morris International Inc (PMI) said on Wednesday it was making a recommended cash offer to buy tobacco and nicotine products maker Swedish Match for 106 Swedish crowns per share. It said the offer value for the Stockholm-listed company amounted to about 161.2 billion Swedish crowns ($16 billion). Swedish Match shares hit…
TOKYO (Reuters) – Panasonic Corp on Wednesday said it expects operating profit growth to be flat this business year as component shortages and rising material costs continued to pose a risk to earnings. The Japanese company forecast operating profit of 360 billion yen in the year to March 31, 2023, little changed from the 357…
TOKYO (Reuters) -Japan’s Takeda Pharmaceutical Co said on Wednesday its 12-month operating profit slid 9.5%, although the country’s largest drugmaker forecast a rebound for the current year. Operating profit for the year that ended on March 31 came in at 461 billion yen ($3.54 billion), compared with 509.27 billion yen in the year-ago period, reflecting…
(Fixes paragraph 2 spelling of Glovis Splendor) SHANGHAI (Reuters) -Tesla Inc sent out a shipment of 4,767 cars from its Shanghai plant on Wednesday for Slovenia, the first batch of exports since the factory reopened on April 19, government-backed media outlet Shanghai Observer reported. The ship Glovis Splendor set off early on Wednesday from Shanghai…
By Hannah Lang WASHINGTON (Reuters) – On Tuesday, bitcoin fell briefly below $30,000 for the first time in 10 months, while cryptocurrencies overall have lost nearly $800 billion in market value in the past month, according to data site CoinMarketCap, as investors fret about tightening monetary policy. Compared with the Fed’s last tightening cycle which…
By Satoshi Sugiyama TOKYO (Reuters) -Toyota Motor Corp warned that operating earnings this year could slump by a fifth “due to unprecedented increases in materials and logistics costs,” on the back of a 33% slide in fourth-quarter profit, sending its shares down more than 5%. Toyota said it expects materials costs to more than double…
HANOI (Reuters) – The chairman of Vietnam’s Vingroup conglomerate said on Wednesday that an initial public offering (IPO) for the company’s auto unit, VinFast, may be delayed until next year due to market uncertainty. The IPO is currently slated for the fourth quarter of this year. Vingroup Chairman Pham Nhat Vuong also told the company’s…
HANOI (Reuters) – The chairman of Vietnam’s Vingroup conglomerate said on Wednesday that an initial public offering (IPO) for the company’s auto unit, VinFast, may be delayed until next year due to market uncertainty. The IPO is currently slated for the fourth quarter of this year. Vingroup Chairman Pham Nhat Vuong also told the company’s…
By Lucy Craymer WELLINGTON (Reuters) – When Aarti and Gaurav Kathuria were saving for their first home, a three-bedroom townhouse in Auckland, they cut back on eating out and other expenses so they could put together the hefty deposit. Now, only months after paying NZ$875,000 ($560,000) for a home in one of the world’s most…
