By Fransiska Nangoy JAKARTA (Reuters) – Indonesia will effectively ban palm oil exports from April 28, until further notice, after President Joko Widodo announced on Friday a halting of shipments of cooking oil and its raw material to control soaring domestic prices. A previous move by Indonesia to restrict palm oil exports, introduced in late…
(Reuters) – Global equity funds faced massive outflows in the week to April 20, on concerns over growth due to the Russia-Ukraine war, impending rate hikes by major central banks and a rise in real yields. According to Refinitiv Lipper, investors offloaded global equity funds worth a net $15.21 billion in the reported week, which…
BERLIN (Reuters) – Europe’s carmakers should wean themselves off fossil fuels from 2040, chief executive of Volkswagen’s Audi said on Friday, calling for quicker expansion of renewable energy capacity in Bavaria, where Audi is based, and elsewhere. Discussions around a possible embargo on Russian gas in light of Moscow’s invasion of Ukraine have raised pressure…
By Nupur Anand and Abhirup Roy MUMBAI (Reuters) – Lenders to India’s Future Group rejected a $3.4 billion deal for its retail assets from Reliance Industries, banking sources said, adding to troubles at the firm which has been struggling to pay off debt since its business was hit hard by the COVID-19 pandemic. “All secured…
By Krystal Hu and Anirban Sen (Reuters) – It is the biggest acquisition financing ever put forward for one person. Elon Musk is doing it his way. More than two-thirds of the $46.5 billion financing package that Musk unveiled on Thursday in support of his bid for Twitter Inc would come from his assets, with…
By Lisa Pauline Mattackal and Sanjana Shivdas (Reuters) – Investors have discounted Marine Le Pen winning the French presidency on Sunday, so an upset would cause a selloff in French government bonds and dent the euro, fund managers and economists told the Reuters Global Markets Forum. Polls on Thursday showed President Emmanuel Macron with a…
By Gilles Guillaume and Nick Carey PARIS (Reuters) -French carmaker Renault said on Friday that “all options are on the table” for separating its electric vehicle (EV) business, including a possible public listing in the second half of 2023. Thierry Piéton, Renault’s finance chief, said that any plans were subject to approval from its alliance…
By Niklas Pollard STOCKHOLM (Reuters) -Swedish truck maker AB Volvo reported a surprise rise in first-quarter core earnings on Friday, as it juggled strong market demand with a strained supply chain that has limited its capacity to keep up with orders. The rival of Germany’s Daimler Truck and Traton also said it expected supplies of…
By Aftab Ahmed NEW DELHI (Reuters) -The Indian government is planning to raise about 300 billion rupees ($3.9 billion), half of what it had earlier estimated, from selling a stake of just over 5% in Life Insurance Corporation of India, a government source told Reuters. LIC is now valued at around 6 trillion rupees, significantly…
By Victoria Waldersee BERLIN (Reuters) – Germany’s industrial heavyweights are teaming up to retrain workers in areas such as software and logistics to fill a growing skills gap and avoid layoffs among workers of all ages as the economy shifts to clean energy and online shopping. More than 36 major companies, ranging from auto suppliers…
