By Tom Hals (Reuters) – Bayer AG reached an $80 million settlement with Ohio to resolve environmental damage allegedly caused by polychlorinated biphenyls, or PCBs, made by the company’s Monsanto business, the state attorney general said on Thursday. The funds from the German company, which did not admit liability, will be used for environmental cleanup,…
By Arathy Somasekhar HOUSTON (Reuters) – U.S. refiners have begun snapping up fuel oil cargoes from the Middle East this month after U.S. President Joe Biden banned Russian oil imports over the country’s invasion of Ukraine, shipping data showed. The United States last year imported about 700,000 barrels per day (bpd) of different types of…
By Elvira Pollina MILAN (Reuters) -KKR remains interested in taking over Telecom Italia (TIM) and also wants to discuss the phone group’s own plans to combine its fixed line assets with those of state-backed rival Open Fiber, two sources said on Thursday. KKR submitted a non-binding 10.8 billion euro ($11.9 billion) takeover proposal for TIM…
By Anthony Esposito ACAPULCO, Mexico (Reuters) – Citigroup’s retail unit in Mexico, known as Citibanamex, has said it hopes to define the terms of its sale by the beginning of April, amid signs of intensifying interest in the bank, expected to fetch at least $4 billion. Citi country head Manuel Romo told journalists on Wednesday…
By Katanga Johnson WASHINGTON (Reuters) – The U.S. public company accounting regulator said on Thursday that it continued to engage with Chinese regulators about getting access to their auditors’ records, but it remained unclear if the Chinese government would grant the access required by a new U.S. listing law. The Public Company Accounting Oversight Board (PCAOB) said recent media speculation about an imminent…
By Ann Saphir (Reuters) -The Federal Reserve needs to raise interest rates “in a timely fashion” this year and in 2023 to curb high inflation before it is embedded in U.S. psychology and becomes even harder to get rid of, Chicago Fed President Charles Evans said on Thursday. But Evans also said the U.S. central…
(Reuters) -Weibo Corp said on Thursday it will consider evaluating options after the Chinese social media platform was added to U.S. securities regulator’s list of companies facing the risk of being delisted. Washington has long demanded complete access to the books of U.S.-listed companies, but Beijing, citing national security concerns, bars foreign inspection of working…
ZURICH (Reuters) – Luxury goods group Richemont has sold its entire 20% stake in Swiss watchmaker Greubel Forsey, documents showed on Thursday. Greubel Forsey said in a statement that 100% of the brand’s shares are now owned by founding shareholders Robert Greubel and Stephen Forsey as well as by Chief Executive Antonio Calce, as of…
By Marc Jones LONDON (Reuters) – World share markets were choppy on Thursday as the Russia-Ukraine war kept oil above $120 a barrel, while worries about “stagflation” rose on renewed talk of aggressive U.S. interest rates hikes and slowing growth. Europe’s main stock indexes barely budged and government bond yields edged up toward multi-year highs…
(Reuters) -Uber Technologies Inc has agreed a deal to list all New York City taxis on its app, a move that could help the ride-hailing firm overcome a shortage of drivers in one of its biggest markets. The agreement was announced by Creative Mobile Technologies, which makes apps for the city’s yellow cabs, and Curb,…
