(Reuters) – Shares of China Evergrande Group were set to open up 1.8% on Thursday after the chairman of the world’s most indebted property developer said it would resume construction fully, and ruled out fire sales. Shares were set to open at HK$1.70, their highest since Jan. 28. That compared to a gain of 0.9%…
By Rowena Edwards LONDON (Reuters) – Global supplies of diesel are dwindling as refiners struggle to keep pace with rapid post-pandemic demand recovery, exacerbating an acute global energy shortage which has already sent the prices of gas, coal and crude oil soaring. At a time when global central banks are fretting over inflation rates not…
LONDON (Reuters) – British retailers have cancelled 7.1 billion pounds ($9.6 billion) in contracts over the last 12 months with suppliers that do not meet their ethical and sustainability standards, according to a report from Barclays Corporate Banking. The report, published on Thursday, found that the COVID-19 pandemic and an increasing focus on environment, sustainability…
(Reuters) – Western Digital Corp said on Wednesday certain materials at two of its manufacturing units in Japan, operated by joint-venture partner Kioxia Holdings Corp, were contaminated and will result in reduced availability of flash storage devices. According to the company’s current assessment, there would be a shortage of at least 6.5 exabytes in flash…
By David Lawder WASHINGTON (Reuters) -The Biden administration is considering a new China tariff probe if current talks fail to persuade Beijing to follow through on its promised purchases of U.S. goods, energy and services, officials from the largest U.S. business lobbying group said on Wednesday. The administration is also considering other options, including working…
(Reuters) – Most of Wells Fargo & Co’s employees, including those in customer-facing roles, will return to their offices on March 14 and work under a hybrid flexible model, according to a company memo seen by Reuters on Wednesday. (Reporting by Sohini Podder in Bengaluru; Editing by Anil D’Silva)
WASHINGTON (Reuters) – Ford Motor Co said on Wednesday that an interruption to traffic at a key U.S.-Canadian bridge, as a result of demonstration against coronavirus mandates, has hurt production at some of the second largest U.S. automaker’s plants in Canada. “While we continue to ship our current engine inventory to support our U.S. plants,…
By Helen Coster and Eva Mathews (Reuters) -Walt Disney Co’s Disney+ subscriber growth restored faith in the future of streaming video and came on top of strong demand at U.S. theme parks, lifting shares 8% after hours Wednesday. Speaking on CNBC Wednesday, Disney Chief Executive Bob Chapek reaffirmed the Disney+ subscriber target of 230 million…
(Reuters) – Walt Disney Co on Wednesday beat estimates for first-quarter revenue, as its theme parks business rebounded during the holiday season, while its streaming division recorded strong subscriber growth. Shares of the company rose 9% in extended trading. For much of the pandemic, the company’s two-year-old streaming service, Disney+, drove its business when its…
By Ron Bousso and Nerijus Adomaitis LONDON (Reuters) – Consumers should brace for years of high energy prices, heads of top oil and gas companies said, in what would pile pressure on governments struggling with spiralling inflation. Oil and gas prices have rocketed in recent months as a result of a rapid recovery in global…
