TOKYO (Reuters) -Mitsubishi Heavy Industries on Wednesday said it expects to book record defence equipment orders this business year as Japan embarks on its biggest military expansion since World War Two. The government plan to double defence spending to around 2% of gross domestic product within five years includes subsidies to support Japan’s fractured defense…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Proxy advisory firm Institutional Shareholder Services (ISS) on Tuesday backed ValueAct Capital’s boardroom challenge at Japanese convenience store operator Seven & i Holdings by recommending shareholders elect all four of the U.S. investment firm’s director candidates. ValueAct, which owns 4.4% of Seven & i, has long criticized the company’s…
WASHINGTON (Reuters) -The United States is encouraging the World Health Organization to invite Taiwan as an observer at its annual meeting in Geneva from May 21 to 30, Secretary of State Antony Blinken said on Tuesday, in remarks that provoked criticism from China. China, which considers Taiwan to be one of its provinces, began blocking…
By Lina Golovnya and Diana Mandia (Reuters) -French train maker Alstom on Wednesday forecast a rise in its annual operating margin, saying the market momentum remained very positive, but delayed its mid-term targets by one year due to high inflation. Alstom shares were down 4.8% at 0749 GMT, the worst performer on the French blue-chip…
By Maya Gebeily BEIRUT (Reuters) – Having brought President Bashar al-Assad in from the cold, Arab states want him to rein in Syria’s flourishing drugs trade in exchange for even closer ties. But as Damascus makes its own demands, the way ahead appears far from simple. Arab states turned the page on years of confrontation…
By Chiara Elisei LONDON Reuters) – UBS could have to lure investors with significantly higher yields when it next sells Additional Tier 1 bonds, paying what analysts say could be a punitive price for a Swiss decision to wipe out Credit Suisse AT1s under their shotgun merger. To sell new AT1s, UBS would have to…
By Summer Zhen HONG KONG (Reuters) – People in China splashed out on dining, travel and luxury goods after emerging from three years of pandemic restrictions but are still not spending freely on routine consumer items, if first quarter corporate results are an indication. There was a broad bounce in earnings after China ended its…
WASHINGTON (Reuters) -U.S. federal prosecutors have filed criminal charges against George Santos, the embattled Republican U.S. congressman who has admitted to lying about his resume but defied calls to step down, CNN reported on Tuesday, citing three sources. Santos is expected to appear as soon as Wednesday in federal court in New York’s Eastern District,…
By Julie Zhu HONG KONG (Reuters) – CICC Capital, a unit of leading Chinese investment bank CICC, has stopped using Capvision Partners’ services, three sources said, following an investigation into the “expert network” as part of Beijing’s crackdown on national security. Shanghai-based Capvision is the latest consultancy and due diligence firm to get caught in…
By Yantoultra Ngui SINGAPORE (Reuters) -Singapore’s second-biggest lender Oversea-Chinese Banking Corp (OCBC) joined bigger rival DBS Group in flagging a peak in interest rates after reporting record quarterly profit on Wednesday thanks to higher net interest margins. OCBC Group Chief Executive Officer Helen Wong said the bank believed interest rates had peaked and “will go…
