Month: October 2021

Reuters broke the news that the Italian government and UniCredit had called off discussions over the sale of Monte dei Paschi (MPS), with the two sides poles apart over the terms of a costly recapitalization plan for the Tuscan bank. News that the deal had collapsed was later confirmed in a joint statement the following […]

Reuters exclusively reported that French carmaker Renault expects to produce at least 300,000 fewer vehicles this year due to a global shortage in semiconductor chips, a much bigger hit than previously estimated. The supply problems would cost Renault, which is set to publish its third-quarter sales this week, over a third more than the 220,000 lost […]

Reuters exclusively reported India has asked Qatar to expedite delivery of 58 delayed liquefied natural gas (LNG) cargoes as it grapples with its worst power crisis in five years. Infrastructure maintenance at supplier Qatargas prevented it from delivering 50 LNG cargoes to India this year, prompting India’s oil ministry last week to write a letter […]

Australia risks losing its advantage in the green energy revolution if its leaders don’t promptly commit to cutting carbon emissions by 2050, the country’s richest man, Fortescue Metals Group founder Andrew Forrest told Reuters in an exclusive interview. Fortescue aims to build a 250 megawatt hydrogen electrolyser at Bell Bay in Tasmania – 25 times […]

Reuters revealed how South Africa’s economic woes are being compounded by the theft of massive amounts of copper from state firms Eskom and Transnet, much of which is smuggled overseas, costing the country billions of rand a year. Power firm Eskom, which expects to make a 15.2 billion rand ($1.1 billion) net loss in its […]

Reuters exclusively reported that Italy’s Treasury is considering extending by six months tax breaks for corporate mergers it first introduced to entice a buyer for troubled state-owned bank Monte dei Paschi di Siena (MPS). The scheme applies to all companies, but it benefits mostly banks and is a key plank of an incentive package the […]

Reuters was first to report that Chinese state-owned Yuexiu Property has pulled out of a proposed $1.7 billion deal to buy China Evergrande Group’s Hong Kong headquarters building over worries about the developer’s dire financial situation. The collapse of the talks for the landmark building’s sale is another setback for cash-strapped Evergrande which has been […]

Reuters was first to report that the White House will lift COVID-19 travel restrictions for fully vaccinated international visitors starting Nov. 8, ending historic restrictions that had barred much of the world from entering the United States for as long as 21 months. The unprecedented travel restrictions kept millions of visitors out of the U.S. […]

Reuters reported exclusively that coffee farmers in Colombia, the world’s No. 2 arabica producer, have failed to deliver up to 1 million bags of beans this year or nearly 10% of the country’s crop, leaving exporters, traders and roasters facing steep losses. World coffee prices have soared 55% this year, mainly due to adverse weather […]

Reuters reported exclusively that airlines are bracing for a major hit to business-class travel, a key revenue driver, as major companies look at drastic ways to cut carbon emissions from corporate travel. Several companies, such as HSBC, Zurich Insurance, Bain & Company and S&P Global, have already announced plans to quickly cut business travel emissions […]