By Chris Helgren and Steve Scherer VANCOUVER (Reuters) – Dock workers on Canada’s Pacific coast said they have revoked a strike notice issued for Saturday, after Prime Minister Justin Trudeau directed a crisis meeting to pursue all options to ensure the stability of supply chains as he stressed the critical role of port operations. The…
SEOUL (Reuters) – South Korea’s financial market watchdog gathered local securities firms on Thursday to assess real estate-related risks and urged for thorough and preemptive preparation against them amid concerns the number of overdue loans could rise. The Financial Supervisory Service (FSS) called on the firms, which are akin to investment banks, to swiftly write…
(Reuters) – China’s Farizon, a maker of electric and hybrid trucks which is owned by automaker Geely, has raised $600 million in a Series-A funding round, the company said in a statement. The Hangzhou-based company, which produces and markets hybrid and pure electric commercial vehicles, said it plans to use the funds for further technology…
By Gleb Stolyarov and Alexander Marrow (Reuters) – The Western automakers that dominated Russia’s car market left following Moscow’s invasion of Ukraine, leaving a slumping production and sales in their wake, with domestic producers and Chinese firms picking up the pieces. Here is an overview of the fate of foreign carmakers’ assets in Russia: RENAULT…
(Reuters) – Australia’s Zip Co Ltd said on Thursday it faced a jump in bad debts at home grounds, its biggest market by revenue, during the March-June quarter due to poor domestic consumer credit and discrepancies with third-party payment processors. The country’s biggest standalone buy-now-pay-later (BNPL) provider said Australia’s June-quarter net bad debts, which are…
By Patricia Zengerle WASHINGTON (Reuters) – Republican and Democratic members of the U.S. House of Representatives introduced legislation on Wednesday that would authorize President Joe Biden’s administration to negotiate a tax agreement with Taiwan, seeking to foster investment as Washington works to shore up the island against a rising China. The lawmakers, including House Foreign…
By Diane Bartz and Anirban Sen WASHINGTON (Reuters) -U.S. antitrust regulators published guidelines on Wednesday on the kinds of mergers and acquisitions they object to, reaffirming the skepticism with which President Joe Biden’s administration has approached many deals, especially in the technology sector. The U.S. Justice Department and Federal Trade Commission (FTC) have mounted an…
By Steve Holland and Andrea Shalal WASHINGTON (Reuters) -The White House on Wednesday expanded its war on junk fees to the rental housing market, announced a crackdown on price-fixing in food and agricultural markets, and unveiled draft merger guidelines as part of an ongoing push to aid U.S. consumers. President Joe Biden, who has made…
(Reuters) – Drugmaker Pfizer Inc said on Wednesday its plant in Rocky Mount, North Carolina, which is one of the largest sterile injectable product facilities in the world, has suffered heavy damage from a tornado. A company spokesperson in an emailed statement confirmed that the Rocky Mount facility was damaged and the drugmaker was assessing…
By Kane Wu (Reuters) – Private equity firm Warburg Pincus on Wednesday named its Asia head of real estate Jeffrey Perlman as successor to Timothy Geithner as president. Geithner, who was U.S. Treasury Secretary in the Obama administration and had headed the Federal Reserve Bank of New York, will become the chair of the New…
