By Nivedita Balu (Reuters) -Shopify Inc said on Monday proposed changes to its fulfillment network would help merchants on its ecommerce platform compete better with big retailers and would not reduce capacity, fueling a sharp recovery in its shares. Shares of the Canadian company rose as much as 9.6% in afternoon trading following the statement….
BEIJING/HONG KONG (Reuters) -China Evergrande New Energy Vehicle Group (NEV) shares jumped nearly 50% on Tuesday after the electric vehicle unit of cash-strapped property firm China Evergrande Group announced a $3.2 billion plan to reduce debt and stay afloat. The plan unveiled late on Monday includes a new share sale worth nearly $500 million to…
By Khalid Abdelaziz, Nafisa Eltahir and Aidan Lewis KHARTOUM (Reuters) -Alarmed that movements of rival military factions in Sudan could bring bloodshed, a group of mediators pushed for last-ditch talks between army chief Abdel Fattah al-Burhan and paramilitary commander General Mohamed Hamdan Dagalo two weeks ago. But neither of Sudan’s two most powerful men showed…
(Reuters) – Carmakers must pay compensation for diesel vehicles fitted with illegal emissions controlling devices, Germany’s highest federal court ruled on Monday, in a case that could potentially cost Volkswagen, Mercedes-Benz and others millions of euros. Companies could owe owners between 5% and 15% of the purchase price of their vehicle, the court ruled, in…
By Harry Robertson LONDON (Reuters) – PIMCO is underweight the U.S. dollar and overweight UK government bonds in some funds, a senior fund manager said on Monday. “There’s no guarantee that we’re going to be short the dollar all the time, but today, (in) positioning we have dollar underweights versus G10 and EM (emerging markets),”…
LONDON (Reuters) -Prime Minister Rishi Sunak said on Monday Britain could be the global home of artificial intelligence regulation as he pitched London as a tech hub to industry leaders and urged them to grasp the opportunities and challenges of AI. Sunak’s government will host a summit on the risks and regulation of AI later…
(Reuters) -Industrial materials maker DuPont De Nemours said on Monday it has agreed to sell an 80.1% stake in its Delrin resins unit to private equity firm TJC, formerly known as The Jordan Company, in a deal that values the business at about $1.8 billion. Shares of the company fell 0.4% in morning trade after…
(Reuters) – Industrial conglomerate Honeywell International Inc raised its full-year profit and revenue forecasts on Thursday, after posting a quarterly results beat on strength in its aviation unit. Shares of the company, which makes everything from engines to cockpit components, were up 2.4% at $195.50 before the bell. Aviation suppliers such as Honeywell and General…
DOHA (Reuters) – Cathay Pacific Airways, battered by strict quarantine rules that have led to a 98% fall in passenger numbers, is preparing to bring back more planes to rebuild Hong Kong’s hub status as restrictions ease, the airline’s chief executive said. “We have about one-third of our passenger fleet still parked in the desert,…
By Daphne Psaledakis and Arshad Mohammed WASHINGTON (Reuters) -The United States on Wednesday imposed sanctions on a network of Chinese, Emirati and other companies that it accused of helping to deliver and sell Iranian petroleum and petrochemical products to East Asia, pressuring Tehran as it seeks to revive the 2015 Iran nuclear deal. The U.S….
