By Clyde Russell SINGAPORE (Reuters) -It’s time for a reality check about decarbonising Asia’s vast and growing steel sector. Reducing the carbon footprint is possible, but only in stages, and over a far longer than ideal time period, and only if incentives to do so are available. Steel is the biggest industrial contributor to global…
LAGOS (Reuters) – Microsoft is closing down its Africa Development Centre in the continent’s most populous nation Nigeria, which will lead to job losses, a spokesperson said on Wednesday. The centre, based in the commercial capital Lagos was opened in 2022 as part of Microsoft’s push to deliver high-end engineering and innovation solutions for the…
By Phil Stewart and Idrees Ali WASHINGTON (Reuters) -President Joe Biden decided to hold back delivery of high payload munitions to Israel because Washington believes a possible Israeli offensive in the Gaza city of Rafah could put civilians at risk, Defense Secretary Lloyd Austin said on Wednesday. Austin added that the administration was also reviewing…
By Yuvraj Malik (Reuters) -Ride-hailing company Lyft projected higher-than-expected gross bookings and core profit for the current quarter on Tuesday, driven by robust demand for its services and benefits from new user and driver features. It also reported first-quarter revenue and profit above expectations, sending its share up 5% in extended trading. Lyft has been…
By Akash Sriram and Abhirup Roy (Reuters) -Electric-pickup maker Rivian on Tuesday stuck to a 2024 production forecast well below Wall Street targets and reported a wider-than-expected first-quarter loss as it ended a weeks-long manufacturing halt. Rivian shares fell 6% in after-hours trading as the muted forecast drew questions from some analysts about demand for…
By Hadeel Al Sayegh DUBAI (Reuters) -Saudi Arabia’s state oil giant Aramco expects to pay $31 billion in dividends to the Saudi government and its shareholders despite reporting lower earnings for the first quarter on Tuesday, hit by lower oil prices and volumes sold. The Saudi government, which directly holds about 82.2% of Aramco, relies…
(Reuters) – Apple is developing its own chip to run artificial intelligence software in data centers, the Wall Street Journal reported on Monday, citing people familiar with the matter. The project, internally codenamed as Project ACDC (Apple Chips in Data Center), aims to leverage Apple’s chip design expertise for its server infrastructure, the report said….
By Anirban Sen and Dawn Chmielewski NEW YORK (Reuters) – Walt Disney and Comcast are seeking to hire a financial adviser to resolve a dispute over how to value the 33% stake in streaming platform Hulu that the former will acquire from the latter, according to people familiar with the matter. The move is in…
(Reuters) – United Parcel Service said on Monday that its CFO and Executive Vice President Brian Newman would leave the company on June 1. UPS will evaluate internal and external candidates to replace Newman, the firm said. “My near-term priority is to focus on my health,” Newman said in a statement. The largest parcel delivery…
By Guy Faulconbridge MOSCOW (Reuters) -Russia said on Monday it would practise the deployment of tactical nuclear weapons as part of a military exercise after what the Moscow said were threats from France, Britain and the United States. Since Russia invaded Ukraine in 2022, Russia has repeatedly warned of rising nuclear risks – warnings which…
