Month: December 2021

Reuters exclusively reported that Russia’s second biggest bank VTB won’t necessarily see 2022 net profit match this year’s expected record high as sharp rises in interest rates reduce margins. Chief Executive Andrey Kostin told Reuters that one-off factors, including the sale of VTB’s 17.3% stake in food retailer Magnit, would help drive profit growth this year. He also said […]

Reuters broke the news that Lotus Technology, a new unit of China’s Geely set up to develop the technology to power Lotus sports cars, is planning to raise $400 million to $500 million before the end of this year. In an exclusive interview with Reuters, Lotus Technology’s Alexious Lee said the fundraising would give it a valuation […]

Reuters broke the news that Toshiba Corp’s second-largest shareholder had objected to the Japanese conglomerate’s plan to split itself into three companies and called on it to instead solicit offers from potential buyers. Hedge fund 3D Investment Partners, which owns more than 7% of Toshiba, laid out its objections in a three-page letter to the company’s board, […]

Reuters revealed that a FIFA proposal for a World Cup every two years and changes to the Club World Cup could cost the big domestic soccer leagues and UEFA around 8 billion euros ($9 billion) per season in lost TV rights and match day and commercial agreements, according to a report commissioned by the leagues. Gianni Infantino, […]

Reuters was first to report that Uber’s delivery and takeout unit has partnered with cannabis retailer Tokyo Smoke to allow online cannabis orders through Uber Eats in Ontario, Canada, marking the ride-hailing company’s foray into the business. More than three years into Canada’s legalization of recreational cannabis, the country is trying to fix its ailing pot market, […]

Reuters was first to report that OPEC and its allies (OPEC+) had agreed to increase oil output in January. Benchmark Brent oil prices fell $2 per barrel after the news, which ended uncertainty in the market over whether oil producers might halt their monthly supply increases due to concern about the impact of the new […]

Shares of Digital World Acquisition Corp rose as much as 22% after Reuters exclusively reported that the blank-check acquisition firm and former U.S. President Donald Trump’s social media venture were seeking to raise $1 billion for their deal. Trump Media & Technology Group, which has yet to roll out the social media app it says […]

Shares of Indian fertilizer companies surged after Reuters exclusively reported that the federal government plans to increase fertilizer subsidies to a record of more than 1.55 trillion rupees ($20.64 billion) in 2021-22. Global fertilizer prices have almost trebled over the past year due to record increases in the prices of coal and natural gas, the […]